Mr. Lewis Bateman reports

SPIRIT BLOCKCHAIN ANNOUNCES ADJUSTMENT TO TERMS OF STRATEGIC INVESTMENT IN INVESTDEFY TECHNOLOGIES

Spirit Blockchain Capital Inc., further to its press release dated Feb. 6, 2023, has reached a mutual agreement with InvestDefy Technologies Inc., a full-stack AI (artificial intelligence) 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 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 five cents per common share on Oct. 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, 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.

About Spirit Blockchain Capital Inc.

Spirit Blockchain Capital is a leading investment company at the forefront of the blockchain industry. Through the company's operational business line and asset management business, Spirit provides 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.

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