Bitcoin Well Infinite is for individuals and businesses looking to work with knowledgeable Bitcoin partners for convenient access to abundant liquidity, convenient payment options, and education on how to self-manage Bitcoin. , and designed as a one-stop-shop for family trusts.
“Bitcoin Well Infinite is a service that is needed now more than ever,” said Adam O’Brien, founder and CEO of the company. -Management and Bitcoin education are what are missing.Individuals understand the value of Bitcoin self-management and we are ready to fill the knowledge gaps that prevent them from doing so. increase.
For more information on services, please visit: bitcoinwell.com/infinite Our Bitcoin Well Infinite service will be available in the US as part of our US expansion.
Bitcoin Well Expands to US
Bitcoin Well has signed agreements with partners to provide non-custodial Bitcoin services to US customers with a target date of Q2 2023. The agreement stipulates that Bitcoin Well will benefit from the partner’s licensing, banking and liquidity relationships. Enabling a seamless customer experience for buying, selling and ultimately using Bitcoin in the United States.
“This is an exciting partnership that allows us to expand our reach,” Adam said of international expansion. “This expansion into the United States Bitcoin Well Infinite We bring 10 years of experience operating and growing non-custodial Bitcoin businesses in Canada and bring that expertise to the United States. ”
As always, US Bitcoin Well customers can benefit from non-custodian practices that avoid exposure to the custodian meltdowns seen at FTX and other custodians this year.
Investor awareness campaign
Bitcoin Well also launched an advertising and investor awareness campaign with Dig Media Inc. dba Investing News Network (INN) and Stockhouse Publishing Ltd. dba Stockhouse.
INN and Stockhouse are private companies headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors. www.investingnews.com and www.stockhouse.com During the 12 months of these agreements, INN and Stockhouse will help increase public awareness of the company. INN and Stockhouse do not provide investor relations or market making services. The INN campaign cost CAD $50,000, with $5,000 currently outstanding. The Stockhouse campaign cost $60,000 CAD, with $5,000 currently outstanding. The balance of these contracts will be paid in full by September 30, 2023. INN and Stockhouse currently hold no securities of Bitcoin Well and no shares will be issued in consideration of these contracts. These contracts are subject to exchange approval.
Other updates
The Company also granted stock options (“Options”) to its most recent director, Allen Stephen, to purchase up to 328,201 shares of our common stock (“Common Stock”) as compensation pursuant to our standard compensation agreement. bottom. all directors. Options are granted with an exercise price of $0.06 per share of common stock. Half of the option will vest one year from the date of grant and the other half will be split quarterly in his second year. Options expire five years from March 28, 2023. Option grants were made in accordance with the Company’s existing stock option plans and TSX Venture Exchange policy.
Finally, on March 28, 2023, Bitcoin Well issued up to $400,000 in collateralized convertible bonds to refinance a portion of its existing Bitcoin-denominated debt. This allowed Bitcoin Well to further reduce non-cash fluctuations in its financial statements. At the option of the holder, the principal amount of the convertible debentures may be converted into shares of Bitcoin Well common stock (“Common Shares”) at a conversion price of $0.15 per common share, along with a required four month holding period. Subject to TSXV review and approval. Bitcoin Well has the right to require the holder to convert a portion of its principal to common stock at any time if the current market price of common stock has been above $0.30 for 10 consecutive days for him. has No finder’s fees are paid in connection with this issuance. The convertible debentures will bear interest at 8% per annum plus the Bank of Canada policy rate and will mature on March 28, 2026.
About Bitcoin Well
Bitcoin Well is in the future-proof money business. It does this by making Bitcoin convenient for everyday people, offering the convenience of modern banking and the benefits of Bitcoin. Our existing Bitcoin ATM and Personal Services business units will facilitate cash flow to fund this mission.
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Bitcoin Well contact information
To book a virtual meeting with Founder and CEO Adam O’Brien, please use the link below. https://bitcoinwell.com/meet-adam
For additional investor and media information, please contact:
Phone: 1 888 711 3866
ir@bitcoinwell.com
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release. .
Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information. Although not always, forward-looking information is often referred to as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will” Identified by the use of words such as “does” and “should”. , or the negation and similar expressions thereof. Forward-looking information involves known and unknown risks, uncertainties and other factors and may cause actual results or events to differ materially from those projected in such forward-looking information. may differ.
The actual results of Bitcoin Well may not be anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industry in which Bitcoin Well operates, general economic conditions and other factors. may differ significantly from Bitcoin hmm.
While Bitcoin Well believes that the expectations reflected in its forward-looking information are reasonable, there can be no assurance that these expectations will prove to be reasonable. correct Undue reliance should not be placed on such forward-looking information.
The forward-looking information contained in this news release represents Bitcoin Well’s expectations as of the date hereof and is subject to change after that date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
For more information, please see “Cautionary Statement Regarding Forward-Looking Information” in Bitcoin Well’s quarterly Management Discussion and Analysis.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/800d0d8e-1a84-42b7-ad13-d62e1a8fcc93
