Toronto, Ontario--(Newsfile Corp. - March 10, 2026) - Blockchain Venture Capital Inc. (CSE: BVCI) (the "Company" or "BVCI") today announced several corporate updates approved by its Board of Directors, including board changes and the issuance of shares for debt settlement and financing cost compensation.
Board Changes
The Company announces that Mr. Fei Teng has resigned as a director of the Company. The Board thanks Mr. Teng for his contributions and wishes him well in his future endeavors.
The Board has appointed Ms. Chao Ran Xu (Sabrina Xu) as an independent director of the Company, effective immediately. Ms. Xu will also serve as Chair of the Audit Committee.
Debt Settlement
The Company has agreed to settle CAD $101,700 in accounting and financial reporting fees payable to a firm controlled by director Winfield Ding through the issuance of 508,500 common shares at a deemed price of $0.20 per share.
The Board determined that settling the outstanding fees through shares preserves the Company's cash resources while maintaining compliance with its financial reporting obligations.
Share Issuance - Financing Arrangement Compensation
The Company also approved the issuance of 400,000 common shares to Xin Zhou, Chief Executive Officer and a director of the Company, as compensation for financing costs incurred in arranging a CAD $130,000 working capital loan used by the Company between October 2025 and February 2026.
Private Placement
The Company also confirms that it intends to proceed with its previously requested price protection submitted to the Canadian Securities Exchange on January 15, 2026, for a non-brokered private placement at a price of $0.20 per common share, to raise up to $1.5 million in gross proceeds for working capital purposes, subject to regulatory approval,including approval of the Canadian Securities Exchange.
Further details of the private placement will be announced in due course.
The private placement has not yet been finalized and remains subject to completion of documentation and applicable regulatory approvals
Related Party Transaction
The share issuances described above constitute related party transactions under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.
The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the consideration involved does not exceed 25% of the Company's market capitalization.
Interested directors abstained from voting on the applicable resolutions.
Regulatory Matters
The issuance of the shares remains subject to Canadian Securities Exchange ("CSE") approval, and all securities issued will be subject to applicable statutory hold periods in accordance with Canadian securities laws.
About Blockchain Venture Capital Inc.
Blockchain Venture Capital Inc. is an Ontario-incorporated company registered as a Money Services Business (MSB) with FINTRAC. The Company provides blockchain-based financial infrastructure, including:
- BVC Chain, a proprietary blockchain and distributed-ledger platform;
- BVCPay, a mobile wallet enabling digital transactions using Bitcoin, Ethereum, and the CADT stablecoin.
- Trillium Coin, a Bitcoin OTC trading service.
CADT, BVCI's native digital currency, is intended to be a Canadian dollar-backed stablecoin designed for payments, settlements, digital-asset issuance, and ledger services. Unless and until BVCI obtains all necessary regulatory approvals or qualifies for exemptions, there is no assurance that it will be able to proceed with its CADT-related initiatives.
For Further Information, Please Contact:
Richard Zhou
Chairman & CEO
Blockchain Venture Capital Inc.
service@bvcadt.com
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws, including expectations regarding acquisitions, private placements, and regulatory matters. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. newswire services or dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/287919
Source: Blockchain Venture Capital Inc.
