Spirit Blockchain Capital Announces Shares For Services Issuance

About this update from Spirit Blockchain Capital, Inc.

VANCOUVER, BC / ACCESS Newswire / June 18, 2026 / 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 its Board of Directors has approved the issuance of common shares to certain consultants and strategic advisors in recognition of services provided to the Company. Pursuant to the shares for services arrangements, the Company will issue an aggregate of 7,220,000 common shares(the "Shares") at a deemed average price of $0.0595 per Share, representing an aggregate value of $429,527. By settling these service obligations through the issuance of equity rather than cash, the Company significantly reduces its outstanding current liabilities, preserves its cash reserves, and strengthens its overall balance sheet position. The issuance recognizes the continued contributions of individuals who have provided strategic, operational, marketing, business development, and advisory services to the Company and who have demonstrated their confidence in Spirit's long-term vision by electing to accept equity as compensation. Furthermore, management notes that both this share settlement and the Company's recent financing initiatives strongly reflect a deep and renewed stakeholder confidence in Spirit's strategic direction since the recent change in management took place. "Our focus has been on strengthening the foundation of the business while positioning Spirit for long-term growth," said Raymond O'Neill, Interim Chief Executive Officer. "The continued support we've received from our advisors, consultants, and strategic partners has been invaluable. Their willingness to accept equity reflects a shared belief in the future of the Company and creates even stronger alignment with our shareholders as we continue to execute on our strategy. Crucially, this capital-efficient approach allows us to eliminate short-term liabilities without depleting our working capital, directly improving our balance sheet health and giving us greater financial flexibility to pursue high-growth opportunities. The strong participation in our recent financial milestones underscores that our partners and investors are fully aligned with the vision of our new leadership team." Th...

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