Bitcoin Well Announces Closing of Oversubscribed Private Placement of Units for Gross Proceeds of $2.3 Million

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Last update: Mar 22, 2024

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EDMONTON, Alberta, March 22, 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 closed its previously announced commercially reasonable efforts private placement offering of an aggregate of 13,352,797 units of the Company (“Units”) at a price of $0.175 per Unit (the “Issue Price”) for aggregate gross proceeds of $2,336,740 (the “Offering”), which includes the exercise of the majority of the Agent’s Option (as defined below). Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.275 per share, subject to adjustment in certain events, at any time until March 22, 2027.