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Vancouver, British Columbia, Nov. 22, 2024 (GLOBE NEWSWIRE) — Spirit Blockchain Capital Inc. (CSE: SPIR), (“Spirit“), a leader in digital finance and blockchain innovation, is pleased to announce the closing of the acquisition of Dogecoin Portfolio Holding Corp, marking a critical milestone in our mission to lead the transformation of asset management traditional assets towards a world of tokenized and digital assets.
A new chapter in the Dogecoin ecosystem
This acquisition of Dogecoin Portfolio Holding Corp. positions Spirit as a powerful player in the Dogecoin ecosystem, symbolizing the democratization of finance through decentralization and community-driven innovation. We are committed to delivering value to our stakeholders while expanding the functionality of Dogecoin Portfolio Holding Corp. within traditional and digital finance, offering unique opportunities to retail and institutional investors.
Driving digital asset management transformation
“We see the evolution from mutual funds to ETFs, and now to tokenized funds, as a natural progression in asset management,” said Lewis Bateman, CEO of Spirit. “Tokenization provides a secure and transparent way to protect and enhance the sovereignty of personal assets on-chain, leveraging blockchain to enable an invaluable level of trust and accessibility. By integrating Dogecoin Portfolio Holding Corp. into This landscape, we are not only aligning with innovation, but setting new standards in how assets are managed, accessed and protected for future generations.
Sean Zubick, co-founder and strategic advisor of Dogecoin Portfolio Holding Corp., remarked: “Being the first public proxy for Dogecoin allows the world to gain exposure without the need for a crypto wallet. DogeCoin as a technology is in its early stages, and with the momentum of the crypto bull market and key global figures like Elon Musk working towards increasing adoption, we love the coin!
This acquisition underscores Spirit’s commitment to fostering a new financial era, where blockchain technology empowers individuals to take ownership and control of their investments. According to a recent report from Deloitte, the tokenization of financial assets is expected to reach $16 trillion by 2030, reflecting growing demand for safe, transparent and flexible investment models.
Terms of Agreement
Pursuant to the Agreement, Spirit acquired all of the issued and outstanding securities of Dogecoin Portfolio Holding Corp., including common shares and share purchase warrants, from the Company’s shareholders (the “Sellers”) . In exchange, Spirit will issue 14,000,000 common shares and 14,000,000 common share purchase warrants, each warrant exercisable at $0.05 per common share for a period of 24 months from the fence. This strategic acquisition is structured to facilitate the integration of Spirit with the assets and operations of Dogecoin Portfolio Holding Corp., creating long-term value for shareholders of both companies.
About Dogecoin Portfolio Holdings Corp:
Dogecoin Portfolio Holdings Corp. is a blockchain company focused on managing and developing assets related to the Dogecoin ecosystem, while operating independently of the official Dogecoin payment system. The Company’s portfolio includes a range of digital assets, intellectual property and strategic partnerships in the cryptocurrency sector, aimed at creating value within the Dogecoin ecosystem without direct involvement in the core operations of the Dogecoin network.
About Spirit Blockchain Capital:
Spirit Blockchain Capital Inc. is a pioneering investment firm at the forefront of the blockchain industry. Through our operational business and asset management business, we offer investors a range of capital appreciation opportunities. With a strong focus on innovation, strategic investments and operational excellence, Spirit is dedicated to unlocking the potential of the digital economy.
For more information about Spirit Blockchain Capital, visit: Spiritblockchain.com
For media inquiries, please contact:
Lewis Bateman
Managing Director info@spiritblockchain.com
Forward-looking statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “goal”, “may”, “will”, “project”, “should”, “believe” », “plan”, “intends” and similar expressions are intended to identify forward-looking information or statements. Forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be accurate. correct. Because forward-looking statements and information relate to future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described under the heading “Risk Factors” in the Company’s long form prospectus dated August 8, 2022, available on the Company’s profile on SEDAR at www.sedar .com. The Company undertakes no obligation to update any forward-looking information, except as required by applicable law. This forward-looking information represents management’s best judgment based on currently available information. No forward-looking statement can be guaranteed and actual future results may vary materially. Therefore, readers are cautioned not to place undue reliance on any forward-looking statements or information.
The CSE has not reviewed, approved or disapproved the contents of this press release.
