Vancouver, BC, June 25, 2026 (GLOBE NEWSWIRE) -- Spirit Blockchain Capital Inc. (CSE: SPIR) ("Spirit" or the "Company"), a Canadian-based publicly listed company focused on blockchain infrastructure and digital asset opportunities, is pleased to announce that it has completed its previously announced shares for services issuance, originally announced on June 18, 2026.
Pursuant to the transaction, the Company has issued an aggregate of 7,220,000 common shares (the "Shares") to certain consultants, advisors, and service providers in settlement of outstanding obligations for services previously rendered to the Company. The issuance was completed in accordance with the policies of the Canadian Securities Exchange and applicable securities laws.
The transaction represents an aggregate settlement value of approximately $429,527 and forms part of the Company's ongoing efforts to strengthen its financial position through disciplined capital management. By settling these obligations through the issuance of equity rather than cash, Spirit has reduced current liabilities, preserved working capital, and improved its financial flexibility as it continues to pursue strategic growth initiatives.
The recipients of the Shares have provided a range of strategic, operational, business development, and advisory services to the Company. Management believes the transaction further aligns the interests of key contributors with those of shareholders by increasing their direct participation in the future success of the Company.
The Shares issued pursuant to the transaction are subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
"Completing this transaction is an important step in our ongoing efforts to strengthen the Company's balance sheet and position Spirit for long-term growth," said Raymond O'Neill, Interim Chief Executive Officer. "We appreciate the confidence shown by our consultants and advisors who elected to accept equity compensation and become further aligned with our shareholders. With this liability reduction, we remain focused on executing on the strategic priorities established by the Board."
Annual General Meeting
The Company also reminds shareholders that its Annual General Meeting will be held on July 10, 2026. The Board of Directors encourages all shareholders to review the meeting materials and exercise their voting rights, whether attending the meeting or voting by proxy. Materials can be reviewed on the Company's website at https://spiritblockchain.com/investor-relations/.
Shareholder participation remains an important component of the Company's governance process, and the Board appreciates the continued support and engagement of its shareholders.
About Spirit Blockchain Capital
Spirit Blockchain Capital Inc. is a Canadian-based publicly listed company focused on providing shareholders with exposure to the blockchain and digital asset economy. The Company holds a diversified portfolio of digital assets and invests in emerging blockchain ventures while developing proprietary yield-generation platforms.
For further information, please contact:
Raymond O'Neill
Interim Chief Executive Officer
Spirit Blockchain Capital Inc.
Email: info@spiritblockchain.com
Phone: +1 604 757-0331
Forward-Looking Statements
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 "expect", "anticipate", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. 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. Factors that could materially affect such forward-looking information are described under the heading "Risk Factors" in the Company's long-form prospectus dated August 8, 2022, that is available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents managements' 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.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the content of this news release.
