Spirit Blockchain Capital Inc. Issues Shares for Services

Spirit Blockchain Capital Inc. has announced the issuance of 4,300,300 common shares to settle $215,015 owed for services. These shares, valued at $0.05 each, will cover various corporate and operational support services. Of the total, 600,000 shares will be allocated to a non-arm's-length party, while the remainder will go to independent contractors.

This issuance falls under a related party transaction but benefits from exemptions, as the transaction's value is below 25% of Spirit's market capitalization. Set for August 27, 2026, the shares are subject to regulatory conditions and a resale restriction period until December 28, 2026.

The issuance is intended to bolster Spirit's balance sheet by reducing liabilities without depleting cash reserves, aiding the company's technological endeavors and commercialization strategy. CEO Suha Askary emphasized the strategic focus on market readiness and revenue generation as Spirit advances its commercial milestones.