Belgravia Hartford Completes USD$1M Second Tranche Drawdown of Credit Facility from Round13 Digital Asset Fund LP, to Further Expand Fast Increasing Bitcoin Treasury (₿)
TORONTO--(BUSINESS WIRE)--BELGRAVIA HARTFORD CAPITAL INC. (CSE:BLGV)(OTC:BLGVF)(FRA:ECA) (" Company" or ' Belgravia ') is pleased to announce it has completed a second tranche drawdown of USD$1,000,000 (' Tranche Two ') with Round13 Digital Asset Fund L.P. (' Round13 DAF '), pursuant to which Round13 DAF has agreed to advance up to USD$5,000,000 to the Company in one or more tranches with a variable interest calculated at the Bank of Canada prime rate upon closing (' Facility ').
Belgravia Hartford draws USD $1M second tranche from Round13 to increase Bitcoin Treasury
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All amounts advanced under the Facility, including Tranche Two, are to be used exclusively to purchase Bitcoin via Coinsquare's regulated OTC trading desk. Following the completion of Tranche Two, Round13 DAF will have advanced under the Facility a current aggregate of USD$1,500,000.
In connection with the Facility, and as consideration for facilitating the financing, the Company has agreed to pay qualified placement agents arm's length to the Company a finder's fee equal to six percent (6%) of the principal amount of each tranche advanced under the Facility (the ' Finder's Fee '). The Finder's Fee will be settled through the issuance of common shares of the Company (the ' Finder's Shares ') at C$0.251 a common share, being 327,733 common shares, for the second tranche with every subsequent tranche resulting in Finder's Shares issued at a price calculated on the volume-weighted average trading price of the Company's common shares on the Canadian Securities Exchange (the ' CSE ') for the five (5) trading days immediately prior to the applicable tranche advance.
The issuance of the Finder's Shares is subject to acceptance by the CSE and compliance with all applicable securities laws, including any required hold periods.
For more information, legal disclaimer and about Belgravia Hartford please visit www.belgraviahartford.com
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