Bitcoin Well Announces Brokered Financing Led by Haywood Securities
EDMONTON, Alberta, March 04, 2024 (GLOBE NEWSWIRE) -- Bitcoin Well Inc. (“Bitcoin Well” or the “Company”) (TSXV: BTCW; OTCQB: BCNWF), the non-custodial bitcoin business on a mission to enable independence, is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (“Haywood”) dated February 29, 2024 to act as sole agent and sole bookrunner to assist the Company in selling on a commercially reasonable efforts private placement basis, units of the Company (each, a “Unit”) at a price of C$0.175 per Unit (the “Issue Price”) for gross proceeds of a minimum of C$1,250,000 (from the sale of a minimum 7,142,857 Units) and a maximum of C$2,100,000 (from the sale of a maximum of 12,000,000 Units) (the “Offering”).
- The Company intends to use the net proceeds of the Offering for sales and marketing, working capital and general corporate purposes.
- The securities offered under the Listed Issuer Financing Exemption will not be subject to a statutory hold period in accordance with applicable Canadian securities laws.
- All securities not issued pursuant to the Listed Issuer Financing Exemption will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the Closing Date.
- The Company expects to close the Offering on or about March 22, 2024, or such other date as the Company and Haywood may agree.