Bitcoin Well Secures $ 5 Million Convertible Debt Funding Commitment


The proposed investment represents capital to accelerate the growth trajectory of the Bitcoin well and support the creation of shareholder value

EDMONTON, Alberta, December 6, 2021 (GLOBE NEWSWIRE) – Bitcoin good (the “Company” or “BTCW“), a technology company that creates and uses products that provide safe and easy ways to buy, sell and use bitcoin, is pleased to announce that we have made a commitment to make an investment private unsecured convertible notes (the “Convertible Notes”) in a principal amount of up to C $ 5 million, with AIP Private Capital Inc. (“AIP”). AIP is a privately held investment company renowned for its innovative approach to investing in convertible private debt.

“The structure of this transaction allows Bitcoin Well to access growth capital with ultimate flexibility in the timing and size of potential drawdowns, which supports our ability to align funding with our capital needs and to control interest costs, ”said Adam O’Brien, CEO of Bitcoin Well. “AIP Capital is an ideal partner for us as they focus on emerging growth companies, primarily in financial services and technology that have unique assets, and we are pleased to have access to a source of committed capital given of the healthy range of opportunities that we explore in our pipeline. This is a relationship that we will seek to foster and hope that AIP will continue to be one of our financial partners as we focus on scalable growth products, such as our Visa online debit capability that we launched in the last month. last week.

It is currently contemplated that the Convertible Notes may be issued in tranches at the option of the Company and will be convertible, at the option of the holder, into common shares of Bitcoin Well (the “Common Shares”) at a conversion price of CAD 0.32. $ per share. The Convertible Notes will bear interest at a rate of 12% per annum (the “Initial Interest Rate”), payable in cash semi-annually in arrears. The interest rate will increase to 6% per annum, payable under the same conditions as the initial interest rate upon the occurrence of certain events. Funding of Convertible Notes is subject to completion of due diligence, final legal documentation, approval by the TSX Venture Exchange and successful negotiation of a third party fee agreement. to this transaction. The securities issued will be subject to a legal holding period in Canada equal to four months and one day from the date of conversion.

The net proceeds from the issuance of the convertible notes will be used to fund growth and potential future acquisition opportunities, as well as general working capital.

Bitcoin Well may pay finder fees in accordance with the policies of the TSXV Venture Exchange to certain individuals listed in connection with the funding.

About Bitcoin Well

Bitcoin Well (TSXV: BTCW) offers convenient, secure, and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network, in-person service, and a suite of online transaction services. Based on management’s assessment of publicly available data, Bitcoin Well is the world’s leading publicly traded Bitcoin ATM company, with an enterprising consolidation strategy to ensure profitable and profitable expansion in North America and in the world. As the leader of the oldest Bitcoin ATM company run by its founder in Canada, Bitcoin Well management brings deep operational capabilities that span the entire value chain as well as access to proprietary software development. and cutting edge that supports future expansion. Bitcoin Well’s mission is to change the relationship society has with money by offering an ecosystem of products and services that make Bitcoin accessible and understood. This ecosystem includes non-custodial financial offers (in person and online); technological development, including SaaS and internal technological developments through Ghostlab, the technology arm of the company; and educational resources designed with the needs of customers and industry in mind.

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Contact details
For more investor information, please contact:

Bitcoin good
10142 82 Avenue NO
Edmonton, AB T6E 1Z4

Adam o’brien, President and CEO or
Dave bradley, director of recipes
Phone. : 1 888 711 3866
[email protected]

Myles Dougan, director of investor relations
Phone. : 587 982 2769
[email protected]

For media inquiries and further information, please contact:

Karen smola, Marketing Director
Phone. : 587 735 1570
[email protected]

Notice to readers / forward-looking statements

Statements in this press release regarding Bitcoin Well that are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as the timing of expansion plans and activities, the allocation of proceeds private placement as well as various business objectives. Such information can generally be identified by the use of forward-looking terms such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or their negative or similar variations. . Because forward-looking statements deal with future events and conditions, by their very nature they involve inherent risks and uncertainties such as the risk that closing will not occur for any reason. Actual results in each case could differ materially from those currently anticipated in these statements due to factors such as: (i) adverse market conditions and (ii) the need for additional financing. Unless required by law, Bitcoin Well does not intend to update any changes to these statements.


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