Mr. Dallas La Porta reports
HYPER BIT TECHNOLOGIES ANNOUNCES PRIVATE PLACEMENT
Hyper Bit Technologies Ltd. is conducting a non-brokered private placement of up to 15 million units at a price of 10 cents per unit for gross proceeds of up to $1.5-million.
Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each warrant will be exercisable to purchase an additional share at an exercise price of 15 cents per warrant share for a period of 36 months after the date of issuance, subject to acceleration, at the election of the company, if the shares close at a price at or above 30 cents for a period of five consecutive trading days.
The company intends to use the net proceeds from the offering to purchase crypto mining rigs, to pay outstanding debts, for marketing and for general working capital purposes. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws. The company may pay finders' fees on the offering within the amount permitted under the policies of the Canadian Securities Exchange and applicable securities laws.
Dallas La Porta, president, chief executive officer and director of Hyper Bit, stated: "We are pleased to have completed the acquisition of Dogecoin Mining Technologies Ltd., a transaction we believe will unlock meaningful value for Hyper Bit shareholders. We remain confident in the future of cryptocurrency and its power to enable fast, efficient transactions."
About Hyper Bit Technologies Ltd.
Hyper Bit is a forward-thinking, diversified technology company specializing in the acquisition, development and strategic deployment of crypto mining operations and blockchain-based innovations. As global interest in digital assets accelerates -- driven by the rise of blockchain, decentralized finance, and increasing institutional and retail adoption -- Hyper Bit is committed to unlocking value across the crypto ecosystem while delivering growth for its stakeholders. Hyper Bit is a member of the Blockchain Association of Canada and the American Blockchain and Cryptocurrency Association.
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