Bitcoin Well Secures $5 Million Convertible Debt Financing Commitment
Summary
EDMONTON, Alberta, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Bitcoin Well (the “Company” or “BTCW”), a technology company building and utilizing products that offer safe and easy ways to buy, sell and use bitcoin, is pleased to announce that we have entered into a commitment to conduct a private placement of unsecured convertible notes (the "Convertible Notes") in the principal amount of up to CDN$5 million, with AIP Private Capital Inc. (“AIP”). The Convertible Notes financing is subject to the completion of due diligence, definitive legal documentation, approval of the TSX Venture Exchange as well as successful negotiation of a third party agreement on fees related to this transaction. Net proceeds from the issuance of the Convertible Notes will be used to finance growth and future potential acquisition opportunities, and general working capital. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) adverse market conditions and (ii) the need for additional financing.