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Fortress Technologies Announces Cdn$20,000,000 Convertible Debenture Financing

Oct 20, 2021•over 3 years ago

Amount Raised

$20 Million

Toronto

Description

Fortress Technologies Inc. (TSX-V: FORT) (the “Company” or “Fortress”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, is pleased to announce it has entered into an agreement with respect to a non-brokered private placement offering (the “Offering”) to issue up to CDN$20,000,000 of 3.5% senior secured convertible debenture units due 36 months following the date of issuance (each, a “Convertible Debenture Unit”), to a consortium of institutional investors.

Company Information

Company

Fortress Technologies

Location

Toronto, Ontario, Canada

About

Fortress Technologies Inc. (TSX-V: FORT) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure. Fortress 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, Fortress owns 72 PH/s across sites in North Dakota and Washington, with an additional 120 PH/s expected to be delivered by Q4 2021. Fortress 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 Fortress Technologies, visit fortresstechnologies.io.

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