SPIRIT BLOCKCHAIN ​​CAPITAL INC. STRENGTHEN TECHNICAL RELATIONSHIPS WITH EOS PROFESSIONALS FOR SUCCESSFUL DEBT TRANSFORMATION AND GROWTH STRATEGY.

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Vancouver, BC, Jan. 15, 2025 (GLOBE NEWSWIRE) – Spirit Blockchain Capital Inc. (CSE: SPIR) (“The wind” or “Company”), announces the successful execution of a previously announced debt restructuring with EOS Network Ventures, marking a milestone in Spirit’s strategic growth plan. This transaction not only strengthens Spirit’s balance sheet but also validates the Company’s new approach to blockchain asset management and yield generation strategies.

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The Company has completed the issuance of 6,470,588 common shares (“Common
Shares”) at a price of $0.17 per share to settle a $1,100,000 debt obligation to EOS Network Ventures (the “Credit Modification“). This change reflects the strong confidence both parties share in Spirit’s future growth path and operational strategies.

“The successful completion of this debt restructuring with EOS Network Ventures represents more than just a strengthened balance sheet – it is a strong validation of our strategic vision,” said Lewis Bateman, CEO of Spirit. “This partnership aligns well with our mission to unlock the value of the blockchain ecosystem. We are focused on developing new product manufacturing techniques and expanding our presence in the digital asset space. Support from EOS Network Ventures, a key player in the blockchain industry, ensures that our approach is compatible with major market participants. “

Credit Transformation also reflects Moya’s desire to transform the role of blockchain in the modern financial world. EOS Network Ventures’ advanced operational capabilities enable effective deployment of blockchain technology, including banking and open finance capabilities. Spirit combines the flexibility and openness of blockchain technology with the reliability of traditional financial management processes to deliver consistent returns while applying fundamental principles. Together with EOS Network Ventures, Spirit shares the desire to usher in a new era of decentralized financial systems built on blockchain platforms that enable sustainable, real-world value creation.

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EOS Network Ventures added, “This agreement with Moya is a testament to our shared commitment to promoting the growth and adoption of blockchain technology in practical, impactful ways. EOS Network Ventures’ advanced blockchain infrastructure is designed to enable projects like Spirit to bridge the gap between traditional finance and blockchain, paving the way for a sustainable and inclusive financial ecosystem.

Spirit continues to implement its strategy of identifying and exploiting opportunities within the blockchain ecosystem, with a strong focus on productivity and economic optimization. The Company’s partnership with EOS Network Ventures positions Spirit to further expand its strategic plans and enhance shareholder value through innovative blockchain solutions.

Common Shares issued under the Debt Conversion are subject to a statutory four-month holding period in accordance with applicable securities laws.

A Debt Conversion is a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”) as EOS Network Ventures is an affiliate of Yves La Rose, director of Spirit. The Debt Conversion is exempt from the statutory valuation requirements of MI 61-101 as the Company’s securities are listed on the Canadian Securities Exchange (the “CSE“). Debt Conversion is also exempt from the minimum approval requirement of MI 61-101 as the fair market value of the Debt Conversion consideration does not exceed 25% of Spirit’s market capitalization.‎

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Spirit is also pleased to announce that it has issued an aggregate of 416,198 common shares through the exercise of warrants to purchase previously issued and outstanding common shares, for an aggregate amount of approximately $74,915.64.

Spirit also announces that it has appointed SRCO Professional Corporation, Chartered Professional Accountants, as the Corporation’s auditor effective January 13, 2025. The resignation of the Corporation’s former auditor, Reliant CPA PC, has been accepted by the Corporation effective January 13, 2025.

For more information about Spirit Blockchain Capital Inc. and its programs, please visit:

www.spiritblockchain.com

For media inquiries, please contact:
Lewis Bateman, Chief Executive Officer
info@spiritblockchain.com

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “anticipate”, “anticipate”, “intend”, “continue”, “estimate”, “purpose”, “may”, “will”, “project”, “should”, “believe”, “ plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. Forward-looking statements in this news release include statements regarding the Company’s expected completion of the Debt Reconversion. Forward-looking statements and information are based on certain material expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which the forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company cannot provide assurance that they will prove to be true. it’s okay. Since forward-looking statements and information speak of future events and conditions, by their nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks, including without limitation the risk that Dogecoin and other cryptocurrencies may not perform as expected, that there may be no or limited yield on the Company’s digital investments. assets, that digital assets may be a good investment, so that the yield generating strategy may be implemented as stated herein or at all, and that even if successful the strategy may not result in the Company’s profits or improved shareholder value. Investing in digital assets is risky and highly speculative. Investors may lose their entire investment. Factors that may have a significant impact on these forward-looking statements are described under the heading “Risk Factors” in the Company’s long-form plan dated August 8, 2022, and the Company’s other public disclosures available on the Company’s profile on SEDAR+ at www. sedarplus.com. The Company undertakes no obligation to update forward-looking information unless required by applicable law. Such forward-looking information represents management’s best judgment based on currently available information. No forward-looking statement can be guaranteed, and actual future results may differ materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

CSE has not reviewed, approved, or disapproved the content of this press release.

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