Btltm Announces $6 Million Marketed Financing and Amendment to Terms of Non- Brokered Private Placement
BTLTM ANNOUNCES $6 MILLION MARKETED
FINANCING AND AMENDMENT TO TERMS OF NON-
BROKERED PRIVATE PLACEMENT
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEM-
INATION IN THE UNITED STATES.
Vancouver, Canada / London, UK November 2, 2017
BTL GROUP LTD. (TSX Venture: BTL) (“BTL” or the “Company”) is pleased to announce that
it has entered into an agreement with GMP Securities L.P. (“ GMP”), whereby GMP has agreed
to raise approximately C$6,000,000 (the “ Offering”) through the offering of approximately
1,224,490 units of the Company (the “Units”) at an issue price of C$4.90 per Unit. Each Unit is
comprised of one common share of the Company (“ Common Share ”) and one -half of one
Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”),
with each Warrant entitling the holder to purchase one Common Share at an exercise price of
C$7.00 per Common Share for 12 months following the closing of the Offering.
The Company has granted GMP an option (the “Agent’s Option”) to purchase additional Units
in an amount equal to 15% of the Units sold under the Offering, exercisable in whole or in part,
at any time up to 48 hours prior to the closing of the Offering. If this option is exercised in full,
the aggregate gross proceeds of the Offering will be approximately C$6,900,000.
This Offering is in addition to the non-brokered private placement of Units announced by BTL on
November 1, 2017 (the “ Non-Brokered Offering ”). The Company also announces an
amendment to the terms of the Non-Brokered Offering, such that it will now be for up to 938,775
Units at a price of CAD$4.90 per Unit, for gross proceeds of up to CAD$4,600,000.
BTL intends to use the proceeds from this Offering and the Non-Brokered Offering in connection
with final development of Interbit TM, BTL's proprietary third generation blockchain platform, and
towards general and administrative expenses.
Closing of the Offering is expected to oc cur on November 23, 2017, or such other date as GMP
and the Company agree.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities in the United States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “ U.S. Securities Act”), or any state
securities laws and may not be offered or sold within the United States unless registered under
the U.S. Securities Act and applicable state securities laws or an exemption from such registr a-
tion is available.
TM
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ABOUT BTLTM AND INTERBITTM
Listed on the TSX Venture Exchange (TSX Venture: BTL) and operating from both Canada and
the UK, BTL is an enterprise technology platform provider that is devel oping Interbit, a propri e-
tary third generation blockchain platform. Via Interbit, BTL can help companies greatly reduce
risks and costs by securely streamlining existing IT infrastructures. BTL has successfully
demonstrated how Interbit can innovate and tr ansform existing business processes for leading
companies in the finance, energy and gaming sectors.
Interbit is a fast, private, and scalable inter -connected blockchain platform. Via its suite of APIs
and smart contracts, Interbit allows businesses around the world to improve efficiency in trading
and operations, accelerate development of internal systems, and embrace new revenue gener-
ating opportunities, while providing the high levels of security, resilience and auditability required
in regulated enterprise environments.
With offices in Vancouver and Calgary, Canada and London, UK, BTL is positioning itself as a
front-runner in the blockchain ecosystem, partnering with and enabling enterprises on Interbit in
order to improve their existing IT systems.
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]
Dominic McCann, CEO
Phone: +1 855 256 5246
Email: [email protected]
Notice Regarding Forward Looking Statements
Certain statements in this release are forward- looking statements, which include completion of
the Offering and the anticipated use of proceeds. Forward- looking statements consist of stat e-
ments that are not purely historical, including any statements regarding beliefs, plans, expect a-
tions or intentions regarding the future. Such information can generall y 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, i n-
tentions 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 mar-
kets in particular, the development of competitive technologies, the marketplace acceptance of
BTL’s technologies and products, as well as those risk factors discussed or referred to in BTL's
annual Management's Discussion and Analysis for the year ended December 31, 2016 available
at www.sedar.com, many of which are beyond the control of BTL. Forward- looking statements
contained in this press release are expressly qualified by this cautionary statement.
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 oblig a-
tion to update or revise any forward- looking statements, whether as a result of new information,
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future events or otherwise. Additionally, BTL undertakes no obligation to comment on the ex-
pectations 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 ad e-
quacy or accuracy of this release.