Cathedra Bitcoin Inc. announced that it will issue 8,000,000 units at a price of CAD 0.36 per unit for gross proceeds of CAD 2,880,000 on June 6, 2022. Each unit will consists of one common share and 0.75 share purchase warrant. Each warrant entitles the holder to acquire one common share for a period of 5 years.

The company will issue a total of 6,000,000 warrants. The warrants will be issued as 2,867,500 warrants at an exercise price of CAD 0.54 per warrant share, 2,867,500 warrants at an exercise price of CAD 0.79 per warrant share, 2,867,500 warrants at an exercise price of CAD 1.04 per warrant share, 2,867,500 warrants at an exercise price of CAD 1.29 per warrant share, 2,867,500 warrants at an exercise price of CAD 1.54 per warrant share. All securities issued in the transaction will be subject to a hold period of 4 months and one day from the date of issuance.

The transaction is expected to close on June 9, 2022 and is subject to all necessary approval including the approval of TSX Venture Exchange.