{"id":89289,"date":"2025-01-15T23:23:04","date_gmt":"2025-01-15T23:23:04","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/spirit-blockchain-capital-inc-reinforces-strategic-partnership-with-eos-network-ventures-through-successful-debt-conversion-execution-and-outlines-growth-strategy\/"},"modified":"2025-01-15T23:23:04","modified_gmt":"2025-01-15T23:23:04","slug":"spirit-blockchain-capital-inc-reinforces-strategic-partnership-with-eos-network-ventures-through-successful-debt-conversion-execution-and-outlines-growth-strategy","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/spirit-blockchain-capital-inc-reinforces-strategic-partnership-with-eos-network-ventures-through-successful-debt-conversion-execution-and-outlines-growth-strategy\/","title":{"rendered":"SPIRIT BLOCKCHAIN CAPITAL INC. REINFORCES STRATEGIC PARTNERSHIP WITH EOS NETWORK VENTURES THROUGH SUCCESSFUL DEBT CONVERSION EXECUTION AND OUTLINES GROWTH STRATEGY"},"content":{"rendered":"
\n

Vancouver, BC, Jan. 15, 2025 (GLOBE NEWSWIRE) — Spirit Blockchain Capital Inc. (CSE: SPIR)<\/strong> (\u201cSpirit<\/strong>\u201d or the \u201cCompany<\/strong>\u201d), announces the successful execution of its previously announced debt conversion with EOS Network Ventures, marking a significant milestone in Spirit\u2019s strategic growth plan. This transaction not only strengthens Spirit\u2019s balance sheet but also validates the Company\u2019s innovative approach to blockchain asset management and yield-generation strategies.<\/p>\n

The Company has completed the issuance of 6,470,588 common shares (\u201cCommon<\/strong> Shares<\/strong>\u201d) at a price of $0.17 per share to settle the $1,100,000 debt obligation to EOS Network Ventures (the \u201cDebt Conversion<\/strong>\u201d). This conversion demonstrates the strong confidence both parties share in Spirit\u2019s future growth trajectory and operational strategy.<\/p>\n

\u201cThe successful execution of this debt conversion with EOS Network Ventures represents more than just a strengthened balance sheet \u2013 it\u2019s a strong validation of our strategic vision,\u201d said Lewis Bateman, CEO of Spirit. \u201cThis partnership aligns perfectly with our mission to unlock value in the blockchain ecosystem. We are focused on developing innovative yield-generating strategies and expanding our presence in the digital asset space. The support from EOS Network Ventures, a significant player in the blockchain industry, confirms that our approach resonates with major market participants.\u201d<\/p>\n

The Debt Conversion also reflects Spirit\u2019s ambition of transforming the role of blockchain in the modern financial world. The advanced performance capabilities of EOS Network Ventures enable the practical deployment of blockchain technology, including capabilities in banking and open finance. Spirit is integrating the adaptability and openness of blockchain technology with the reliability of traditional financial management practices to deliver consistent returns while leveraging decentralized protocols. Together with EOS Network Ventures, Spirit shares the ambition to usher in a new era of decentralized financial ecosystems built on blockchain platforms that enable sustainable, real-world value creation.<\/p>\n

EOS Network Ventures added, \u201cThis agreement with Spirit is a testament to our shared commitment to fostering the growth and adoption of blockchain technology in practical, impactful ways. EOS Network Ventures\u2019 advanced blockchain infrastructure is designed to empower projects like Spirit to bridge the gap between traditional finance and decentralized protocols, paving the way for a more sustainable and inclusive financial ecosystem.\u201d<\/p>\n

Spirit continues to execute on its strategy of identifying and capitalizing on opportunities within the blockchain ecosystem, with a particular focus on yield generation and treasury optimization. The Company\u2019s partnership with EOS Network Ventures positions Spirit to further expand its strategic initiatives and enhance shareholder value through innovative blockchain solutions.<\/p>\n

The Common Shares issued under the Debt Conversion are subject to a statutory four-month hold period in accordance with applicable securities laws.<\/p>\n

The Debt Conversion is a \u201crelated party transaction\u201d as defined under Multilateral Instrument 61-101 (\u201cMI 61-\u200e\u200e101<\/strong>\u201d) as EOS Network Ventures is an affiliated entity of Yves La Rose, a director of Spirit. The Debt Conversion is exempt from the formal valuation requirements of MI 61-101 as the securities of the \u200eCompany are listed on the Canadian Securities Exchange (the \u201cCSE<\/strong>\u201d). The Debt Conversion is also exempt from the minority \u200eapproval requirement of MI 61-101 as the fair market value of the consideration for the Debt Conversion does \u200enot exceed 25% of Spirit\u2019s market capitalization.\u200e<\/p>\n

Spirit is also pleased to announce it has issued an aggregate of 416,198 Common Shares upon the exercise of previously issued and outstanding common share purchase warrants, for gross proceeds of approximately $74,915.64.<\/p>\n

Spirit also announces that it has appointed SRCO Professional Corporation, Chartered Professional Accountants\u200e, as auditor of the Corporation effective January 13, 2025. The resignation of the Corporation\u2019s former auditor, Reliant CPA PC\u200e, was accepted by the \u200eCorporation effective January 13, 2025\u200e.<\/p>\n

For more information about Spirit Blockchain Capital Inc.<\/strong> and its initiatives, please visit:
www.spiritblockchain.com<\/u><\/strong><\/a><\/p>\n

For media inquiries, please contact:<\/strong>
Lewis Bateman, Chief Executive Officer<\/strong>
info@spiritblockchain.com<\/strong><\/p>\n

Forward-Looking Statements <\/strong><\/p>\n

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 \u201cexpect\u201d, \u201canticipate\u201d, \u201caims\u201d, \u201ccontinue\u201d, \u201cestimate\u201d, \u201cobjective\u201d, \u201cmay\u201d, \u201cwill\u201d, \u201cproject\u201d, \u201cshould\u201d, \u201cbelieve\u201d, \u201cplans\u201d, \u201cintends\u201d and similar expressions are intended to identify forward-looking information or statements. Forward looking statements in this news release include statements regarding the Company\u2019s anticipated completion of the Debt Conversion. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such 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 can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including without limitation the risk that Dogecoin and the other cryptocurrencies may not perform as expected, that there may be no or limited yields generated from the Company\u2019s investment in digital assets, that the digital assets may not be a good investment, that the yield generation strategy may not be executed as set out herein or at all, and that even if it is successful that the strategy may not result in benefits to the Company or enhanced shareholder value. Investments in digital assets are risky and highly speculative. Investors may lose their entire investment. Factors that could materially affect such forward-looking information are described under the heading \u201cRisk Factors\u201d in the Company\u2019s long form prospectus dated August 8, 2022, and in the Company\u2019s other public disclosure that is available on the Company\u2019s profile on SEDAR+ at www.sedarplus.com. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management\u2019s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.<\/p>\n

The CSE has not reviewed, approved, or disapproved the content of this press release.<\/em><\/strong><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

Vancouver, BC, Jan. 15, 2025 (GLOBE NEWSWIRE) — Spirit Blockchain Capital Inc. (CSE: SPIR) (\u201cSpirit\u201d or the \u201cCompany\u201d), announces the successful execution of its previously announced debt conversion with EOS Network Ventures, marking a significant milestone in Spirit\u2019s strategic growth plan. This transaction not only strengthens Spirit\u2019s balance sheet but also validates the Company\u2019s innovative […]<\/p>\n","protected":false},"author":2,"featured_media":89290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/media\/YTgwZDZiOTQtODljMy00ODg4LWEyOTAtYzAxODA5OThhNTczLTUwMDA3OTE4Mw==\/tiny\/Spirit-Blockchain-Capital-Inc-.png","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-89289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/89289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=89289"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/89289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/89290"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=89289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=89289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=89289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}