Btl Group Announces Closing of Non-Brokered Private Placement of Equity Units
BTL GROUP ANNOUNCES CLOSING OF NON-BROKERED
PRIVATE PLACEMENT OF EQUITY UNITS
For Immediate Release
Vancouver, Canada / London, UK April 6, 2017
BTL GROUP LTD. (TSX Venture: BTL) (“BTL”) is pleased to announce that it has completed its
previously announced non-brokered private placement for aggregate gross proceeds of
CAD$3,105,000 (the “Private Placement”).
The Private Placement was comprised of 1,150,000 equity units (the “Units”) that were issued at
a price of CAD$2.70 per Unit. Each Unit consists of one (1) common share of BTL and one-half
of one (1/2) common share purchase warrant of BTL (a “Warrant”). Each whole Warrant entitles
the holder to acquire one (1) common share of the Corporation for a period of 24 months from the
date of issuance of the Warrant, at an exercise price of CAD$3.25 per share.
The securities issued in connection with the Private Placement are subject to a hold period of four
months and one day from the closing of the Private Placement.
BTL intends to use the proceeds from the Private Placement in connection with acceleration of
the development of Interbit, BTL’s proprietary blockchain platform and towards general and
administrative expenses.
BTL has agreed to pay the following finder’s fees in respect of certain sales under the Private
Placement: (i) a cash finder’s fee of CAD$5,940 to Fosters & Associates Financial Services Inc.,
(ii) a cash finder’s fee of CAD$5,400 to PI Financial Corp., and (iii) a cash finder’s fee of CAD$675
to Richardson GMP Limited.
The securities being offered pursuant to the Private Placement have not been, nor will they be
registered under the United States Securities Act of 1933, as amended, or state securities laws
and may not be offered or sold within the United States or to, or for the account or benefit of, U.S.
persons absent U.S. federal and state registration or an applicable exemption from the U.S.
registration requirements. This release does not constitute an offer for sale of, or a solicitation of
an offer to buy, the securities in the United States.
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GRANT OF STOCK OPTIONS
BTL also announces the grant of options to officers of BTL to acquire a total of 80,000 common
shares (“Common Shares”) of the Corporation at an exercise price of CAD$3.42 per share, such
options to vest as to one-half on April 6, 2018 and one-half on April 6, 2019. The options expire
five years from the date of grant.
ABOUT BTL GROUP LTD.
Operating from both Canada and the UK, BTL offers blockchain solutions to businesses across
multiple industries, in particular the finance, energy and gaming sectors. BTL has built prototypes
that showcase the capabilities of its Interbit platform, a proprietary blockchain based interbank
payment network and settlement and asset trading solution.
Interbit is an open, multi-chain, asset settlement platform with a suite of APIs and smart contracts
that allow businesses from across the world to provide global access to fast, secure, and auditable
financial and asset trading services.
With offices in Vancouver and Calgary, Canada and London, United Kingdom, BTL is positioning
itself as a front-runner in the blockchain ecosystem, providing advice and knowledge to industry
leaders.
Website: www.btl.co
Twitter: https://twitter.com/blockchainltd
For further information please contact:
Angus Campbell, Inquiries
Phone: +44 (0) 20 7100 0850
Email: [email protected]
Guy Halford-Thompson, CEO
Phone: +1 855 256 5246
Email: [email protected]
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed
Private Placement and has neither approved nor disapproved the contents of this press
release.
Certain statements in this release are forward-looking statements, which include completion of
the proposed Private Placement, the anticipated use of the proceeds of the Private Placement,
the development and launch of BTL’s technologies and products, and other matters. Forward-
looking statements consist of statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the future. Such information can
generally be identified by the use of forwarding-looking wording such as “may”, “expect”,
“estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar
variations. Readers are cautioned not to place undue reliance on forward-looking statements, as
there can be no assurance that the plans, intentions or expectations upon which they are based
will occur. By their nature, forward-looking statements involve numerous assumptions, known
and unknown risks and uncertainties, both general and specific, that contribute to the possibility
that the predictions, estimates, forecasts, projections and other forward-looking statements will
not occur. These assumptions, risks and uncertainties include, among other things, the state of
the economy in general and capital markets in particular, the development of competitive
technologies, the marketplace acceptance of BTL’s technologies and products, and other factors,
many of which are beyond the control of BTL. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
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The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, BTL disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations
of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
(Not for dissemination in the United States of America)