Belgravia Hartford Capital Inc. (CSE:BLGV), a company with strategic investments, has announced a non-brokered private placement aiming to raise up to CAD $10 million, with all proceeds earmarked for the acquisition of Bitcoin to bolster its corporate treasury.
The offering comprises up to 40,000,000 units, priced at C$0.25 per unit. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each full warrant will entitle the holder to acquire an additional common share at an exercise price of C$0.50 for a period of 12 months from the issuance date. A specific acceleration clause for the warrants states that if the common shares’ closing price on the Canadian Securities Exchange (CSE) exceeds C$0.75 for ten consecutive trading days, the company may shorten the warrant expiry to 30 days following notice to holders.
Belgravia Hartford’s stated strategic objective is to build a robust Bitcoin treasury, and this financing initiative is aligned with that goal, with no finders’ fees associated with the offering.
Certain insiders of the company may participate in the private placement, constituting a “related party transaction” under Multilateral Instrument 61-101 (MI 61-101). The company intends to utilize exemptions 5.5(a) and 5.7(a) of MI 61-101, as the fair market value of the transaction, including related party involvement, is not expected to exceed 25% of Belgravia Hartford’s market capitalization.
The offering is subject to standard conditions, including the receipt of all necessary regulatory and stock exchange approvals, notably from the CSE. All securities issued through this placement will be subject to a statutory hold period of four months and one day, in accordance with applicable securities laws. Further information about Belgravia Hartford can be found on their official website.
