Sixty Six Capital Invests CAD$2.6 Million in 18.2 Bitcoin

Sixty Six Capital, a Canadian listed company, has made a substantial investment in the cryptocurrency market by purchasing 18.2 Bitcoin (BTC) for CAD$2,634,450. This acquisition is part of the company's strategy to enhance its Bitcoin holdings, which currently include an equivalent of 113 BTC through the Canadian ETF BTCC.B. The company plans to convert these ETF holdings into direct Bitcoin assets, further strengthening its position in the cryptocurrency space.

The company has also announced a non-brokered private placement of up to 24,510,714 common shares at CAD$0.14 per share. This initiative aims to raise up to USD$2.5 million, which will be used to purchase additional BTC and to support working capital and general corporate purposes. The private placement is subject to standard regulatory approvals, including from the Canadian Securities Exchange, and the issued shares are locked in for a four-month hold period plus one day. No finder's fees are anticipated in connection with this offering.

David Rowe, the CEO of Sixty Six Capital, expressed enthusiasm about advancing the company’s Bitcoin accumulation strategy. This move marks a significant step since Sixty Six Capital's initial involvement in Bitcoin mining and indirect purchases in 2016. The company's commitment to cryptocurrency is evident in its strategic plan to bolster its Bitcoin holdings and its efforts to raise additional funds for further acquisitions. This development underscores Sixty Six Capital's long-term vision and its dedication to becoming a major player in the cryptocurrency market.