Spirit Blockchain Capital issues shares to settle $215,015 in service obligations

Spirit Blockchain Capital Inc. has completed a previously announced shares-for-services issuance, issuing 4,300,300 common shares at a deemed price of $0.05 per share. The transaction, completed on September 3, 2026, is valued at $215,015 and fully settles outstanding service obligations.

The issuance was part of an ongoing strategy to strengthen the company's financial position and preserve liquidity. According to the company, the transaction reduces current liabilities by an equivalent amount, thereby enhancing Spirit's working capital and supporting its technology development and other capital allocation priorities.

The newly issued shares are subject to resale restrictions. The shares will be subject to a statutory hold period expiring on January 4, 2027, and a Canadian Securities Exchange hold period expiring on January 3, 2027. This issuance is expected to benefit the company’s balance sheet by replacing cash obligations with equity, providing a financial cushion for ongoing operations and technology advancement.

Spirit Blockchain Capital Inc., based in Vancouver, British Columbia, is a publicly listed company focused on the blockchain and digital asset economy. The company’s activities include the development, acquisition, operation, and management of technology solutions, artificial intelligence, blockchain infrastructure, and assets, as well as investments in emerging blockchain ventures and opportunities.

The issuance of shares for services is part of the company’s broader strategy to manage its financial obligations and maintain its position in the competitive blockchain market. The move is expected to support the company’s technology and commercialization efforts as it continues to evolve in the fast-paced world of digital assets.

Chief Executive Officer Suha Askary stated, "This issuance is a strategic move that aligns with our goals of reducing liabilities and enhancing our financial flexibility. It supports our commitment to developing cutting-edge blockchain solutions and investing in emerging technologies."

The forward-looking statements in the release caution readers that actual results may differ from expectations due to various risks and uncertainties. Spirit Blockchain Capital Inc. advises that investors should review the "Risk Factors" section in its long-form prospectus for a detailed understanding of potential risks.