Hyper Bit Technologies Ltd. announces it has entered into a binding letter of intent (the "LOI") dated June 11th 2025, with 663312 BC Ltd. doing business as "Bit Royalty" to provide a credit facility through which the Company may from time to time and at its discretion, acquire Bitcoin and Dogecoin directly from Bit Royalty in exchange for shares of the Company. Bit Royalty shall provide a credit facility of up to CAD 1,000,000.00 which may be advanced in one or more tranches, subject to mutual agreement. The proceeds shall be used by Hyper Bit solely to acquire Bitcoin, Dogecoin or Other Mutually Agreed Crypto Currencies as treasury assets.
Drawdowns shall be made upon written notice by Hyper Bit and subject to customary conditions precedent agreed between the Parties. The facility shall bear interest at 10%, calculated annually. All outstanding principal and interest shall be due and payable within 90 days, unless converted earlier.
The Parties agree to negotiate in good faith to enter into a definitive credit agreement and ancillary documents (the "Definitive Agreements") within 45 days of execution of this LOI.
