Vancouver, BC, February 3, 2025 (GLOBE NEWSWIRE) — Spirit Blockchain Capital Inc. (CSE:
SPIR) (“Spirit” or the “Company”), a focused blockchain technology and digital asset management
company, provides an update and additional guidance regarding its previously announced (October
8, 2024 and November 5, 2024) acquisition of Dogecoin Portfolio Holdings Corp. (“Dogecoin
Holdings”).
Since completion of the acquisition of Dogecoin Holdings, the Company has been reviewing the
assets of Dogecoin Holdings and considering the contributions that this transaction will make
towards Spirit’s strategic growth plan, and its goals of strengthening its position as a key player in the
rapidly evolving blockchain and digital asset management sectors, particularly within the Dogecoin
ecosystem. The specific assets of Dogecoin Holdings acquired are: (1) cash of approximately
$440,000 (unaudited), and (2) certain early stage blockchain technology intellectual property which
is still in development. For clarity, the Company confirms that Dogecoin Holdings does not have any
physical facilities, employees, marketing systems, sales forces, customers, operating rights,
production techniques or trade names which were acquired by Spirit. In addition, although the
acquisition of Dogecoin Holdings facilitated certain introductions to participants in the Dogecoin
ecosystem, Dogecoin Holdings does not have any contracts or goodwill that were acquired as part
of the acquisition of Dogecoin Holdings.
“The financial sector is undergoing a profound shift towards decentralized solutions, with blockchain
technology at the core of this transformation. By acquiring Dogecoin Holdings, we aim to better position
Spirit to develop innovative financial products to further our goal of driving value for our
shareholders and advancing the future of decentralized finance.” said Lewis Bateman, CEO of Spirit.
About Spirit Blockchain Capital
Spirit Blockchain Capital is a pioneering investment company at the forefront of the blockchain
industry. Through our operational business line and asset management business, we provide
investors with a range of opportunities for capital appreciation. With a strong focus on innovation,
strategic investments, and operational excellence, Spirit Blockchain is dedicated to unlocking the
potential of the digital economy.
For media inquiries, please contact:
Lewis Bateman
Chief Executive Officer
info@spiritblockchain.com
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the
meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”,
“estimate”, “objective”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar
expressions are intended to identify forward-looking information or statements. The forward-looking
statements and information are based on certain key expectations and assumptions made by the
Company. Although the Company believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue reliance should not
be placed on the forward-looking statements and information because the Company can give no
assurance that they will prove to be correct. Since forward-looking statements and information
address future events and conditions, by their very nature they involve inherent risks and
uncertainties, including the risk that the value of the assets of Dogecoin Holdings may vary on further
financial review and audit, that the Company will not be able to derive the intended benefits of the
acquisition of Dogecoin Holdings, and that the acquisition will not request in creased shareholder
value or furtherance of the Company’s business plan or goals. Actual results could differ materially
from those currently anticipated due to a number of factors and risks. Factors that could materially
aect such forward-looking information are described under the heading “Risk Factors” in the
Company’s long form prospectus dated August 8, 2022, that is available on the Company’s profile
on SEDAR at www.sedar.com. The Company undertakes no obligation to update forward-looking
information except as required by applicable law. Such forward-looking information represents
management’s best judgment based on information currently available. No forward-looking
statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are
advised not to place undue reliance on forward-looking statements or information.
The CSE has not reviewed, approved or disapproved the content of this press release.
