Star Metro - Spirit Blockchain Capital Inc. Announces Shares for Services Issuance and Provides Technology Commercialization Update

The amounts owing relate primarily to corporate and operational support, management and advisory services, technology development and related technical services, as well as investor relations and communications services. Of the Shares, 600,000 will be issued to a non-arm's-length party and 3,700,300 to arm's-length contractors and service providers.

The issuance to the non-arm's-length party constitutes a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the related party transaction does not exceed 25% of the Company's market capitalization.

The Shares are expected to be issued effective August 27, 2026, subject to applicable regulatory requirements and the policies of the Canadian Securities Exchange (the "CSE").

The Shares will be subject to applicable resale restrictions, including a statutory hold period expiring December 28, 2026, as required under applicable securities laws and CSE policies.

Strengthening the Balance Sheet

The issuance allows the Company to satisfy $215,015 in outstanding obligations arising from services previously provided through the issuance of equity rather than cash. The transaction is expected to strengthen the Company's balance sheet by reducing current liabilities without drawing on cash resources, supporting Spirit's working capital position and preserving liquidity for ongoing operations, technology development and other capital allocation priorities as the Company continues to advance its technology and commercialization strategy.

Operational & Strategic Update

Spirit continues to advance its underlying technology in step with its broader corporate strategy. Development efforts remain focused on platform optimization and functionality enhancements.

As part of the Company's multi-phase corporate evolution, market entry and commercial deployment are targeted following upcoming corporate milestones. Additional details regarding product functionality, strategic branding, and commercialization plans will be released in due course.

"Our focus is shifting toward commercial execution," said Suha Askary, Chief Executive Officer of Spirit. "As we prepare to introduce the technology solutions and next-generation capabilities in alignment with our corporate roadmap the objective is to bring the technology to market, build adoption and establish a foundation for revenue generation."

The Company expects to provide further updates as it progresses through its upcoming corporate milestones and advances toward commercial deployment of its technology.

About Spirit Blockchain Capital

Spirit Blockchain Capital Inc. is a Canadian-based publicly listed company focused on providing shareholders with exposure to the blockchain and digital asset economy. The Company is engaged in the business of developing, acquiring, operating and managing technology solutions, artificial intelligence, blockchain infrastructure and assets, and invests in emerging blockchain ventures and opportunities.

For further information, please contact:

Suha Askary
Chief Executive Officer
Spirit Blockchain Capital Inc.
Email: [email protected]
Phone: +1 604 757-0331

Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described under the heading "Risk Factors" in the Company's long-form prospectus dated August 8, 2022, that is available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents managements' best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the content of this news release.

SOURCE: Spirit Blockchain Capital Inc.

View the original press release on ACCESS Newswire

S.Belanger--SMC