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TORONTO, Oct. 21, 2022 /CNW/ – Blockchain Venture Capital Inc. (the “Company” or “BVCI“) announces that, due to recent market conditions, the terms of its non-brokered private placement offering previously announced on August 22, 2022 (the “Private Placement“) have been revised by reducing the price per common share (each, a “Share“) from $2.50 per Share to $1.25 per Share and increasing the aggregate number of Shares issuable under the Private Placement to 640,000 Shares. All other terms and conditions of the Private Placement will remain same, with aggregate gross proceeds remaining at up to $800,000.
The Company intends to use the proceeds from the Private Placement to fund corporate expenditures and general working capital purposes in respect of the development of the Company’s BvcPay platform and CADT.
All securities issued under the Private Placement will be subject to a hold period expiring four months and one day from the date of issuance.
The Private Placement may be completed in multiple tranches and is subject to receipt of executed subscription agreements and funds as well as certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.
This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may…
