Cathedra Bitcoin's C$2.5 Million LIFE Offering: What Investors Need to Know

Cathedra Bitcoin Inc. Announces Non-Brokered LIFE Offering

Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) has announced a non-brokered private placement financing called the LIFE Offering, aiming to raise C$2.5 million by issuing 25 million units at C$0.10 per unit. This offering comes with an option to increase the total amount by another C$2.5 million.

Offering Details

Each unit consists of:

• One subordinate voting share in the capital of the company
• One share purchase warrant with tiered exercise prices:
  • 25% at C$0.12
  • 25% at C$0.14
  • 25% at C$0.16
  • 25% at C$0.20

These units will be available under the listed issuer financing exemption (LIFE), applicable in all Canadian provinces except Quebec, and potentially in the United States under exemptions from registration requirements.

Use of Proceeds

The net proceeds from this offering will be directed towards:

• Infrastructure expansion
• Bitcoin acquisitions
• General corporate purposes

Closing Date

The offering is expected to close around October 9, 2024, pending necessary approvals, including from the TSX Venture Exchange.

Company Background

In July 2024, Cathedra completed a strategic merger with Kungsleden, Inc., enhancing its data center capacity significantly. The company now operates three data centers in Tennessee and Kentucky, and is involved in a joint venture for a new 60-megawatt data center in North Dakota.

Corporate Objective

The management has outlined a goal to maximize shareholders' per-share bitcoin holdings, potentially acquiring more bitcoin through cash flows from operations and proceeds from this offering.

About Cathedra Bitcoin

Cathedra Bitcoin specializes in developing and operating digital infrastructure assets across North America, with a focus on enhancing its bitcoin holdings. The company is headquartered in Vancouver and trades under CBIT on the TSX Venture Exchange.

For more information, visit cathedra.com.