Btltm Group Announces Closing of Brokered Offering and Concurrent Non-Brokered Offering of Equity Units
BTLTM GROUP ANNOUNCES CLOSING OF BROKERED
OFFERING AND CONCURRENT NON-BROKERED
OFFERING OF EQUITY UNITS
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMI-
NATION IN THE UNITED STATES.
Vancouver, Canada / London, UK November 23, 2017
BTL GROUP LTD. (TSX Venture: BTL) ("BTL" or the "Company") is pleased to announce that,
on November 23, 2017, it closed the previously announced brokered private placement (the "Bro-
kered Offering") of 2,184,000 equity units of the Company ("Units") at an issue price of C$4.90
per Unit, for aggregate gross proceeds of approximately C$10.7 million. 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 War-
rant entitling the holder to purchase one Common Share at an exercise price of C$7.00 per Com-
mon Share until November 23, 2018.
In connection with the Brokered Offering, BTL entered into an agency agreement with GMP
Securities L.P. (the " Agent"), whereby BTL agreed to pay the Agent a fee equal to 6.0% of the
aggregate gross proceeds received under the Brokered Offering.
BTL is also pleased to announce it has closed its previously announced concurrent non-brokered
private placement (the " Non-Brokered Offering" and together with the Brokered Offering, the
"Offerings") of 938,774 Units at an issue price of C$4.90 per Unit, for aggregate gross proceeds
of approximately C$4.6 million. In connection with the Non-Brokered Offering, the Company has
paid a finder's fee to Smaller Capital Company Ltd. of C$276,000.
In connection with the Offerings, BTL issued an aggregate of 3,122,774 Common Shares and
1,561,387 Warrants, for gross proceeds of approximately C$15.3 million.
“We are delighted to have completed this funding round, where we saw significantly increased
investor demand given the recent progress and exciting news from the Company. The capital will
be used to rapidly expedite our go to market strategy for our third generation blockchain platform,
InterbitTM. As we have proven throughout this year in our customer journeys, InterbitTM meets the
requirements of industry via its scalability and privacy, with the platform using its multiple
connected blockchains, aiming to handle hundreds of thousands of transactions per second. Our
plan is to deliver a product that will be relevant in many years to come, as we envisage widespread
enterprise adoption of blockchain technology”, said Dominic McCann, CEO of BTL.
The Common Shares, Warrants and Common Shares underlying the Warrants are subject to
statutory hold periods which expire on March 24, 2018.
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BTL intends to use the proceeds from the Offerings in connection with final development of
InterbitTM and towards general and administrative expenses.
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 secu-
rities 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 registration is
available.
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 developing Interbit, a proprietary
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 transform 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 generat-
ing 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 the anticipated
use of proceeds. 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 state-
ments, 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 pos-
sibility 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
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of the economy in general and capital markets in particular, the development of competitive tech-
nologies, 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 con-
trol 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 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 ade-
quacy or accuracy of this release.