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BTL Group (TSX VENTURE:BTL) announced an increase in the size of its recently announced proposed non-brokered private placement to up to CAD$3,105,000 worth of equity units of BTL. As quoted in the press release: Each Equity Unit will be comprised of one (1) common share of BTL and one-half of one (1/2) common share purchase warrant …
BTL Group (TSX VENTURE:BTL) announced an increase in the size of its recently announced proposed non-brokered private placement to up to CAD$3,105,000 worth of equity units of BTL.
As quoted in the press release:
Each Equity Unit will be comprised of one (1) common share of BTL and one-half of one (1/2) common share purchase warrant of BTL (a “Warrant“). Each whole Warrant will entitle the holder to acquire one (1) common share of BTL for a period of 24 months from the date of issuance of the Warrant, at an exercise price of CAD$3.25 per share.
The Private Placement is subject to the approval of the TSX Venture Exchange. The securities issued in connection with the Private Placement will be subject to a four-month hold period, in accordance with applicable securities laws.
BTL intends to use the proceeds from the Private Placement in connection with acceleration of the development of Interbit, BTL’s proprietary blockchain platform and towards general and administrative expenses.