SPIRIT BLOCKCHAIN CAPITAL INC. REINFORCES STRATEGIC PARTNERSHIP WITH EOS NETWORK VENTURES THROUGH SUCCESSFUL DEBT CONVERSION EXECUTION AND OUTLINES GROWTH STRATEGY

Core Viewpoint - Spirit Blockchain Capital Inc. has successfully executed a debt conversion with EOS Network Ventures, enhancing its balance sheet and validating its blockchain asset management strategies [1][2][3] Financial Summary - The company issued 6,470,588 common shares at a price of $0.17 per share to settle a $1,100,000 debt obligation to EOS Network Ventures [2] - An additional 416,198 common shares were issued from the exercise of previously issued warrants, generating approximately $74,915.64 in gross proceeds [7] Strategic Initiatives - The debt conversion is seen as a strong validation of Spirit's strategic vision and aligns with its mission to unlock value in the blockchain ecosystem [3] - Spirit aims to develop innovative yield-generating strategies and expand its presence in the digital asset space, supported by EOS Network Ventures [3][4] - The partnership is intended to bridge traditional finance and decentralized protocols, fostering a more sustainable financial ecosystem [4] Corporate Governance - SRCO Professional Corporation has been appointed as the new auditor for Spirit, effective January 13, 2025, following the resignation of the former auditor [8] Regulatory Compliance - The debt conversion is classified as a "related party transaction" under Multilateral Instrument 61-101, exempt from formal valuation and minority approval requirements due to its market capitalization [6]