Spirit Blockchain Announces Adjustment to Terms of Strategic Investment in InvestDEFY Technologies

Vancouver, British Columbia, Oct. 13, 2023 (GLOBE NEWSWIRE) -- Spirit Blockchain Capital Inc. (CSE: SPIR) (the “Company” or “Spirit”), a leading digital asset investment firm, reports that, further to its press release dated February 6, 2023, it has reached a mutual agreement with InvestDEFY Technologies Inc. (“InvestDEFY”), a full stack AI platform that powers unique structured products for the digital asset space, to settle the cash component of the consideration in common shares of the Company (the “Common Shares”) in order to increase InvestDEFY’s equity position in Spirit. Accordingly, the Company will issue an aggregate of ‎4,275,000 Common Shares to InvestDEFY at a price of $0.05 per Common Share on October 20, 2023 in accordance with the policies of the Canadian Securities Exchange.

All Common Shares to be issued are subject to a statutory four month hold period in accordance with the policies of the Canadian Securities Exchange and applicable securities laws. None of the securities to be issued have been or will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.

On Behalf of the Board of Directors
Lewis Bateman
Chief Executive Officer

About Spirit Blockchain Capital

Spirit Blockchain Capital is a leading investment company at the forefront of the blockchain industry. Through our operational business line and asset management business, we provide investors with a range of opportunities for capital appreciation. With a strong focus on innovation, strategic investments, and operational excellence, Spirit Blockchain is poised to unlock the potential of the digital economy.

To learn more about Spirit, please visit:

Media Contact: ‎
Lewis Bateman
Chief Executive Officer
Email: info@spiritblockchain.com

Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties. The Company ‎‎provides forward-looking statements for the purpose of conveying ‎‎information about current ‎‎expectations and plans relating to the future and readers are cautioned that ‎‎such statements may not be ‎‎appropriate for other purposes. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company’s ‎‎public filings ‎‎under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

‎The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.