Toronto, December 15, 2023–(business wire)–(Block Height: 821,350) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQB: CBTTF) (“Cathedra” or the “Company”), a diversified Bitcoin mining company, further: We are pleased to announce that. According to our previous press release dated November 21, 2023, the Company has settled C$10,743,329 (“), a portion of the outstanding principal amount of the Notes (as defined below).Payment amount“) into 96,439,227 shares (“stockOur company (hereinafter referred to as “”)debt consolidationThe shares were issued at a deemed price of C$0.1114 per share. The debt is owed to certain bondholders (“bond holders“) Relating to the Company’s 3.5% Senior Secured Convertible Notes due November 11, 2024 (“Maturity date“) Originally issued to bondholders on November 11, 2021 (“corporate bond“).
Additionally, in connection with the Debt Settlement, the Company has repaid C$2,000,000 to retire C$3,333,333 of the outstanding principal amount of the Notes, and as of the date of this document, the Company has repaid C$2,000,000 to cancel the outstanding principal amount of the Notes, bringing the total outstanding principal amount of the Notes to C$5,733,728. Equivalent to Canadian dollars.remaining principal“).
In addition, the remaining principal maturity date will be extended by an additional 12 months to November 11, 2025 (“Extension of maturityNo other changes were made to the notes. The Company will continue to pay quarterly interest at the rate of 3.5% per year on the remaining principal balance until the Extended Maturity, after which the remaining principal will be paid in full.
All securities issued pursuant to the Debt Settlement will be subject to a holding period of four months and one day from the date of termination of the Debt Settlement.
About Cathedra Bitcoin
Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQB: CBTTF) is a Bitcoin company that believes that healthy money and abundant energy are the keys to human prosperity. The company has diversified its Bitcoin mining operations, producing 355 PH/s in his three states and his five locations in the United States. We are focused on managing and growing our hashrate portfolio through a diverse approach to site selection and operations, leveraging multiple energy sources across various jurisdictions.
Click here to learn more about Cathedra. cathedral.com Or follow company news on Twitter. @CathedraBitcoin or on Telegram @CathedraBitcoin.
Notes
Trading in our securities should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws, which are based on expectations, estimates and projections as of the date of this news release. The information in this release regarding our future plans and goals is forward-looking information. Other forward-looking information includes, but is not limited to, information regarding debt settlement, final approval of the TSXV, the intentions and future actions of senior management, the Company and its intentions, plans and future actions. yeah. the ability to successfully mine digital currencies; Revenues increased as currently expected. the ability to advantageously liquidate current and future digital currency inventories; network failures and fluctuations in the price of digital currencies and any resulting material adverse effects on our operations; the construction and operation of currently planned expanded blockchain infrastructure; and the regulatory environment for cryptocurrencies in applicable jurisdictions.
Any statements that include predictions, expectations, beliefs, plans, forecasts, objectives, assumptions, discussions of future events or performance (including, but not always, (often uses expressions such as “anticipate,” “do not anticipate,” “plan,” “budget,” “scheduled,” “predict,” “estimate,” and “believe.” “, “intends”, or variations of such words or phrases, or expressing a particular action, an event or result “may”, “might”, ” “will”, “may” or “will”) may be forward-looking information rather than statements of historical fact and are intended to identify the future. . -The information you are looking for.
This forward-looking information is based on the reasonable assumptions and estimates of our management at the time it is prepared and is subject to known and unknown risks that may cause our actual results, performance and achievements. involve uncertainties and other factors. Any future results, performance or achievements expressed or implied by such forward-looking information may differ materially. The Company also assumes that no material events occur outside of the Company’s normal business operations. Although the Company has attempted to identify important factors that could cause actual results to differ materially, the Company has acknowledged that there may be other factors that cause results not to be as anticipated, estimated or intended. There is a gender. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information, except as required by law.
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contact address
Media and investor inquiries
Sean Tye
CFO
ir@cathedra.com
