Spirit Blockchain Capital Issues Shares to Settle Outstanding Services
Spirit Blockchain Capital Inc., a Canadian-based publicly listed company focused on blockchain and digital assets, has announced the issuance of an aggregate of 4,300,300 common shares at a deemed price of $0.05 per share to settle outstanding services provided to the Company.
The shares will be issued to arm's-length contractors and service providers, as well as a non-arm's-length party, totaling 600,000 shares. The transaction is valued at $215,015.
According to Spirit Blockchain Capital Inc., this issuance strengthens the balance sheet by reducing current liabilities without drawing on cash resources, supporting working capital position and preserving liquidity for ongoing operations and technology development.
Suha Askary, Chief Executive Officer of Spirit Blockchain Capital Inc., stated that 'Our focus is shifting toward commercial execution' as the Company prepares to introduce its technology solutions and next-generation capabilities in alignment with its corporate roadmap.