Spirit Blockchain Capital Reports Q1 2025 Operational and Financial Highlights

Core Insights - Spirit Blockchain Capital Inc. reported key milestones and unaudited financial results for Q1 2025, highlighting progress in financing, product launches, and operational capabilities [1][3] Financial Performance - The company completed a CAD $2.11 million Listed Issuer Financing Exemption Offering in February 2025 to strengthen its balance sheet [6] - Cash and cash equivalents at the end of the quarter were CAD $1,118,585, an increase from CAD $929,194 at year-end 2024, with a working capital surplus of CAD $729,781 [6] - The entire EOS-tranche of convertible debentures amounting to CAD $1,105,024 was converted into equity, eliminating related interest and derivative liabilities [6] Product Development - On March 27, 2025, Spirit Digital AG launched the Spirit Ethereum Yield+ ETP and Spirit Solana Yield+ ETP on SIX Swiss Exchange and Deutsche Börse, providing regulated, exchange-listed vehicles for ETH and SOL staking strategies [6] Market Positioning - The company upgraded to the OTCQB® Venture Market under the ticker "SBLCF" on April 22, 2025, enhancing access for U.S. investors [6] - Inder Saini was appointed as CFO to strengthen financial controls, and a strategic partnership was formed with Astralane to develop a Staked SOL Index [6] Company Overview - Spirit Blockchain Capital Inc. focuses on blockchain infrastructure and digital asset yield opportunities through three verticals: infrastructure yield, blockchain investments, and regulated exchange-listed products [3]