Mercury Digital Assets Technologies Inc. announced that it expects to receive $1.5 million in funding from Metaplanet Inc.

Mercury Digital Assets Technologies Inc. announced that it will issue 1,500,000 Series seed Preferred Stock at an issue price of $1 per share for gross proceeds of $1,500,000 on February 7, 2023. The shares are convertible into common shares of the company at their original issue price. The shares carry cumulative fixed dividend rate of 7% per annum.

The round will be raised at post money valuation of $1,500,000. The shares are issued at a par value of $0.0001 per share.The transaction will include participation from Red Planet Japan, Inc. for 30% stake without voting rights. The transaction is expected to close within five business days.