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Cathedra Bitcoin Announces C$6,450,000 Non-Brokered Investment From Kingsway Capital And Ten31

May 18, 2022•about 3 years ago

Amount Raised

$6.45 Million

Toronto

Description

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Cathedra”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, today announced the execution of subscription agreements with respect to a non-brokered private placement offering (the “Offering”) with Kingsway Capital and Ten31 (collectively, the “Investors”) for the sale of up to 17,916,667 units (“Units”) at a purchase price of C$0.36 per Unit, for gross proceeds of approximately C$6,450,000.

Company Information

Company

Cathedra Bitcoin

Location

Toronto, Ontario, Canada

About

Cathedra Bitcoin Inc. (TSX-V: CBIT) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure. Cathedra believes sound money and cheap, abundant energy are the fundamental ingredients to human progress, and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Cathedra owns 187 PH/s across various sites around the United States and expects to deploy an additional 538 PH/s in 2022. Upon the full deployment of its purchased machines, Cathedra’s hash rate is expected to total 725 PH/s. The Company is focused on expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions. For more information about Cathedra, visit cathedra.com.