Dynamite Blockchain Corp. (CSE: KAS) Announces Non-Brokered Private Placement Offering of Up to $1,000,000

2 min read | February 07, 2025 07:50 AM EST | By Team Kalkine Media

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Highlights

Dynamite Blockchain to raise up to $1M via a non-brokered private placement.

Offering consists of 10M units priced at $0.10, with warrants for future shares.

Funds will be directed to Kaspa coin acquisition and mining operations development.

Dynamite Blockchain Corp. (CSE:KAS), a blockchain company focused on advancing Kaspa-related ventures, is pleased to announce a non-brokered private placement (the "Offering") to raise up to $1,000,000. The Offering consists of up to 10,000,000 units, with each unit priced at $0.10. Each unit will consist of one (1) common share in the capital of the Company (a "Common Share") and one (1) transferable share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of C$0.20 per share for 24 months following the closing of the Offering. Should the Common Shares close above $0.30 for five consecutive trading days, the warrants will be subject to acceleration.

The Offering will be completed under the listed issuer financing exemption outlined in Part 5A of National Instrument 45-106 Prospectus Exemptions. As such, the Common Shares underlying the Units issued in the Offering to Canadian subscribers will not be subject to a hold period as per applicable Canadian securities laws. However, the Warrants and any shares issued upon their exercise will be subject to a four-month hold period, expiring four months and one day from the issuance date.

The Offering is expected to close around February 20, 2025, subject to the receipt of adequate subscriptions and all necessary approvals, including approval from the Canadian Securities Exchange.

Use of Funds

The proceeds from the Offering will primarily support Dynamite Blockchain’s commitment to solidifying its position as a Kaspa-focused public entity. The Company plans to use the funds to acquire Kaspa coins, further invest in Kaspa mining operations, and support Kaspa product development. Additionally, the proceeds will be allocated toward audit fees, legal fees, marketing fees, consulting fees, and general working capital as outlined in the Offering Document.

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