Bitcoin Well Announces Debt Settlement and Quarterly ATM Program Update

Core Viewpoint - Bitcoin Well Inc. announces the settlement of debt through the issuance of shares and provides a quarterly update on its at-the-market equity program, indicating ongoing financial activities and strategies to manage debt and raise capital [2][6]. Debt Settlement - The company has a total debt of C$212,599 as of September 30, 2025, related to certain use of bitcoin agreements and a convertible debenture agreement [2]. - Bitcoin Well plans to settle C$98,787 by issuing 681,290 common shares at a deemed price of C$0.145 per share and C$113,812 by issuing 981,137 shares at a deemed price of C$0.116 per share [2][3]. - The debt settlement is subject to approval from the TSX Venture Exchange and will have a statutory hold period of four months and one day from the issuance date [3]. Related Party Transaction - A director of the company participated in the debt settlement through a wholly owned subsidiary, which qualifies as a related party transaction under Multilateral Instrument 61-101 [4]. - The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements of MI 61-101, as the transaction is not expected to exceed 25% of the company's market capitalization [5]. Quarterly ATM Program Update - Bitcoin Well's ATM program allows the issuance and sale of up to C$5,000,000 of shares at the company's discretion [6]. - In the quarter ended September 30, 2025, the company issued 262,000 shares at an average price of C$0.19 per share, generating gross proceeds of C$49,411, with net proceeds of C$47,445 after commissions [7]. - Year-to-date, the company has issued 1,962,000 shares at an average price of C$0.15 per share, resulting in gross proceeds of C$289,249 and net proceeds of C$278,213 [8].