Business
Bitcoin Well Announces Private Placement Offering of up to US$100 Million of Units and First Tranche Closing for Proceeds of Approximately C$12.5 Million
Edmonton, Alberta--(Newsfile Corp. - September 29, 2025) - Bitcoin Well Inc.   (TSXV: BTCW)...
About this update from Bitcoin Well Inc
[{"type":"text","content":"Bitcoin Well Announces Private Placement Offering of up to US$100 Million of Units and First Tranche Closing for Proceeds of Approximately C$12.5 MillionEdmonton, Alberta--(Newsfile Corp. - September 29, 2025) - Bitcoin Well Inc. (TSXV: BTCW) (OTCQB: BCNWF) (\"Bitcoin Well\" or the \"Company\"), the non-custodial bitcoin business on a mission to enable independence, is pleased to announce a private placement of up to US$100,000,000 (or 5,000 Bitcoin) of units (the \"Units\") at a price of C$0.102 per Unit (the \"Offering\"). The Offering is expected to close in one or more tranches (each such date, a \"Closing Date\").The Offering is designed to position Bitcoin Well as a leader across the bitcoin industry; giving investors access to a sizable Bitcoin Treasury which is coupled with a Bitcoin Operating business.\"Bitcoin Well has always given investors exposure to the bitcoin industry through our operations, and now Bitcoin Well is enhancing that exposure.\" expressed Adam O'Brien, founder and CEO of Bitcoin Well. \"By coupling a large Bitcoin Treasury with our successful bitcoin financial services business we are paving the way for the future of Bitcoin Treasuries in Canada, and abroad.\"The Company is also pleased to announce that it has today closed the first tranche of the Offering and issued 122,471,380 Units for aggregate gross proceeds of C$12,492,081 (including 37.31 Bitcoin converted using the daily rate denominated in U.S. Dollars by the CME CF Bitcoin Reference on September 24, 2025 and the USD:CAD exchange rate published by the Bank of Canada on September 24, 2025).\"I am thrilled with the progress so far on the Offering\" continued Adam. \"This amount allows us to grow our existing treasury by over 700% from 11 to over 75 bitcoin!\"Each Unit shall consist of: (i) one common share in the capital of the Company (each, a \"Share\"); and (ii) one common share purchase warrant of the Company (each, a \"Warrant\"). Each Warrant will be exercisable to acquire one additional Share at an exercise price of C$0.1875 for a period of two years from the Closing Date.The Company may upsize the Offering by an additional US$50 million, subject to investor demand, for aggregate gross proceeds of up to US$150 million. The Company intends to use the net proceeds from the Offering for further additions to its strategic bitcoin reser...