Business
Bitcoin Well Announces At-The-Market Equity Program
Edmonton, Alberta--(Newsfile Corp. - March 28, 2025) - Bitcoin Well Inc. (TSXV: BTCW) (OTCQB: ...
About this update from Bitcoin Well Inc
[{"type":"text","content":"Bitcoin Well Announces At-The-Market Equity ProgramEdmonton, Alberta--(Newsfile Corp. - March 28, 2025) - Bitcoin Well Inc. (TSXV: BTCW) (OTCQB: BCNWF) (\"Bitcoin Well\" or the \"Company\"), the non-custodial bitcoin business on a mission to enable independence, announced today that it has established an at-the-market equity program (the \"ATM Program\") that allows the Company to issue and sell, at its discretion, up to $5,000,000 of common shares (\"Shares\") to the public from time to time. Distributions of the Shares under the ATM Program will be made pursuant to the terms of an equity distribution agreement (the \"Distribution Agreement\") dated March 28, 2025 between Bitcoin Well and Haywood Securities Inc. (the \"Agent\"). All Shares sold under the ATM Program will be sold through the TSX Venture Exchange or other recognized Canadian marketplace at prevailing market prices at the time of sale. The ATM Program will be effective until the earlier of March 28, 2027 and the completion of the issuance and sale of all of the Shares issuable pursuant to the ATM Program, subject to earlier termination by Company or the Agent in accordance with the terms of the Distribution Agreement. The ATM Program is intended to provide the Company with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM Program, if any, will be determined in the Company's sole discretion. As Shares distributed under the ATM program will be sold at the prevailing market price at the time of sale, prices may vary among purchasers during the term of the ATM Program.The Company intends to use the net proceeds from the ATM Program, if any, together with the Company's current cash resources, to fund general corporate purposes, including ongoing operations and/or working capital requirements; to repay indebtedness outstanding from time to time; to complete future acquisitions; to fund research and development, intellectual property development; or for other corporate purposes.The offering of Shares under the ATM Program is qualified by a prospectus supplement dated March 28, 2025 (the \"Prospectus Supplement\") to the short form base shelf prospectus dated March 6, 2025 (the \"Shelf Prospectus\"). Copies of the Prospectus Supplement, the Shelf Prospectus and the Distribution Agreement are availabl...