Bitcoin Well Announces Customer Milestone, New Product Deliverables and Grant of Stock Options

EDMONTON, Alberta, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Bitcoin Well Inc. (the “Company” or “Bitcoin Well”) (TSXV:BTCW) (OTCQB:BCNWF) announces a user signup milestone and outlines new product deliverables. Please visit our website to review our most recent investor deck and other relevant materials.

“Our product and feature development will be accelerating drastically throughout the next 3-6 months,” said Adam O’Brien, Founder & CEO of the Company, “We are laser focused on future-proofing money by making Bitcoin useful for the everyday people.”

On the topic of user growth:

“We have signed up over 1,000 individuals to the platform without a significant marketing spend over the past 3 months. While we are still early in our product growth,” continued Adam, “and I believe the organic success we’ve seen in the last few weeks has been great. We have spent the summer solidifying the technology needed to accelerate feature development which we expect will increase our organic growth and give us opportunities to accelerate that growth through paid advertising avenues.”

Our users and shareholders can expect to see the following exciting deliverables in Q4:

  • Improved signup workflow
    • Importance: Allow users to use the product without the cumbersome signup process. This is only made possible because we are a non-custodial retailer.
    • Sets the stage: Incentivize users to sign up with rewards which are unlocked upon completed signup.
  • Canadian Dollar Balances
    • Importance: Allow users to fund Canadian Dollars Balances in their Bitcoin Well account. This will allow us to incentivize signups with promotional funds deposited into accounts.
    • Sets the stage: Be able to spend bitcoin or CAD from the eventual Bitcoin Well Card.
  • Mobile App Release
    • Importance: Greater brand recognition and more avenues to find new users
    • Sets the stage: Use iOS and Android operating systems to increase gamification of signup and app usage

The Company has also granted stock options (“Options”) to its independent directors to purchase up to a total of 1,523,752 common shares (“Common Shares”) of the Company as compensation. The Options will be granted at an exercise price of $0.05 per Common Share. One half of the options will vest on the first anniversary of the date of grant and one half will vest in quarterly installments over the second year. The Options will expire after five years from September 19, 2022. The grant of Options was made in accordance with the Company’s existing stock option plan and the policies of the TSX Venture Exchange.

About Bitcoin Well
Bitcoin Well is on a mission to enable independence through the convenient control of bitcoin. It promises to future-proof money by making bitcoin useful to everyday people with an ecosystem of products that make it safe and easy for its customers to buy, sell and use bitcoin. Since 2013 the company has built a successful cash-flowing foundation of Bitcoin ATMs that continues to produce recurring revenue which is being reinvested to fund this future-looking business unit.

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Bitcoin Well Contact Information
To book a virtual meeting with Founder & CEO Adam O’Brien please use the following link:

For additional investor & media information, please contact:
Tel: 1 888 711 3866

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: 
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.

Bitcoin Well actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which Bitcoin Well operates, prevailing economic conditions, and other factors, many of which are beyond the control of Bitcoin Well.

Bitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

Any forward-looking information contained in this news release represents Bitcoin Well expectations as of the date hereof, and is subject to change after such date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

For more information, see the Cautionary Note Regarding Forward Looking Information found in the Bitcoin Well quarterly Management Discussion and Analysis.