Thursday, 18 June 2026 07:30 AM
Company Update
VANCOUVER, BC / ACCESS Newswire / June 18, 2026 / Spirit Blockchain Capital Inc. (CSE:SPIR) ("Spirit" or the "Company"), a Canadian-based publicly listed company focused on blockchain infrastructure and digital asset opportunities, is pleased to announce that its Board of Directors has approved the issuance of common shares to certain consultants and strategic advisors in recognition of services provided to the Company.
Pursuant to the shares for services arrangements, the Company will issue an aggregate of 7,220,000 common shares(the "Shares") at a deemed average price of $0.0595 per Share, representing an aggregate value of $429,527. By settling these service obligations through the issuance of equity rather than cash, the Company significantly reduces its outstanding current liabilities, preserves its cash reserves, and strengthens its overall balance sheet position.
The issuance recognizes the continued contributions of individuals who have provided strategic, operational, marketing, business development, and advisory services to the Company and who have demonstrated their confidence in Spirit's long-term vision by electing to accept equity as compensation. Furthermore, management notes that both this share settlement and the Company's recent financing initiatives strongly reflect a deep and renewed stakeholder confidence in Spirit's strategic direction since the recent change in management took place.
"Our focus has been on strengthening the foundation of the business while positioning Spirit for long-term growth," said Raymond O'Neill, Interim Chief Executive Officer. "The continued support we've received from our advisors, consultants, and strategic partners has been invaluable. Their willingness to accept equity reflects a shared belief in the future of the Company and creates even stronger alignment with our shareholders as we continue to execute on our strategy. Crucially, this capital-efficient approach allows us to eliminate short-term liabilities without depleting our working capital, directly improving our balance sheet health and giving us greater financial flexibility to pursue high-growth opportunities. The strong participation in our recent financial milestones underscores that our partners and investors are fully aligned with the vision of our new leadership team."
The shares for services issuances are intended to further align the interests of key contributors with those of Spirit's shareholders while supporting the Company's ongoing strategic and operational initiatives.
As part of its ongoing transformation, the Company continues to advance initiatives focused on the commercialization and monetization of its technology assets. Management remains focused on pursuing revenue-generating opportunities that leverage the Company's existing technology infrastructure and intellectual property while maintaining disciplined capital allocation and operational execution.
The Shares will be issued pursuant to applicable securities law exemptions and remain subject to the policies of the Canadian Securities Exchange. All securities issued pursuant to the transaction will be subject to the applicable statutory hold period of four months and one day in accordance with applicable securities laws.
About Spirit Blockchain Capital
Spirit Blockchain Capital Inc. is a Canadian-based publicly listed company focused on providing shareholders with exposure to the blockchain and digital asset economy. The Company holds a diversified portfolio of digital assets and invests in emerging blockchain ventures while developing proprietary yield-generation platforms.
For further information, please contact:
Raymond O'Neill
Interim Chief Executive Officer
Spirit Blockchain Capital Inc.
Email: [email protected]
Phone: +1 604 757-0331
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described under the heading "Risk Factors" in the Company's long-form prospectus dated August 8, 2022, that is available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents managements' best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the content of this news release.
SOURCE: Spirit Blockchain Capital Inc.