Hyper Bit Establishes Corporate Kraken Digital Asset Exchange Account for Crypto Purchases
July 17, 2025 4:18 PM EDT | Source: Hyper Bit Technologies Ltd.
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2025) - HYPER BIT TECHNOLOGIES LTD. (CSE: HYPE) (OTCID: HYPAF) (FSE: N7S0) (the "Company" or "Hyper Bit") announces it has established a corporate level digital asset account on the Kraken exchange to buy crypto currencies including Bitcoin. Kraken is one of the world's largest digital asset exchanges and the leader in euro volume and liquidity. Globally, Kraken's client base trades more than 200 digital assets and 8 different fiat currencies, including GBP, EUR, USD, CAD, JPY, CHF AED and AUD. Kraken was founded in 2011 and was one of the first exchanges to offer spot trading with margin, regulated derivatives and index services. Kraken is trusted by well over 9 million traders and institutions around the world and offers professional, round-the-clock online support.
Mr. Dallas La Porta, President, CEO and Director of Hyper Bit Technologies Ltd., stated: "Establishing a corporate Kraken crypto currency account is a step forward for the Company and will allow Hyper Bit to systematically expand our crypto currency treasury holdings. Combined with our agreement with Bit Royalty, this allows Hyper Bit to strategically build its crypto currency portfolio and include a wider variety of top preforming crypto assets to maximize potential growth. Hyper Bit's listing on the new OTCID market not only provides enhanced disclosure but also increased exposure to the US market and investors. We continue to be bullish on Bitcoin and the crypto markets and are now moving to build our crypto treasury through strategic partnerships and financing, providing investors with comprehensive and compliant exposure to the crypto currency sector."
Additionally, the Company has agreed to settle an aggregate amount of C$120,500.00 in outstanding bona fide debt (the "First Debt Settlement"). The Company and the Creditors have agreed to settle the Debt through the issuance to the Creditors of 669,445 Units, each a common share and a common share purchase warrant in the capital of the Company at a price of $0.18 per Unit with a common share purchase warrant exercisable at $0.30 for three years (the "Units"). Subject to the written consent of the Canadian Securities Exchange the First Debt Settlement Shares in connection with the First Debt Settlement will be subject to a four month and a day hold from the date of issuance.
The Company announces that it has entered into a debt settlement agreement with Three creditors to settle an outstanding loan in the amount of C$440.154.00 (the "Second Debt Settlement"). The loan was advanced to the Company bearing 10% interest per annum and a 15% loan fee, advanced to support working capital. The Company and the creditors have agreed to settle the loan through the issuance to the creditors of 2,445,300 Units in the capital of the Company at a price of $0.18 per Unit with a common share purchase warrant exercisable at $0.30 for three years (the "Units"). The Second Debt Settlement Shares will be subject to a four month, and a day hold from the date of issuance.
The Company also announces the settlement of C$39,900.00 to insiders of the Company. C$30,450.00 owed to Dallas La Porta, the Company's Chief Executive Officer, through the issuance of 169,167 Units at a price of $0.18 per Unit with a common share purchase warrant exercisable at $0.30 for three years (the "Units") and C$9,450.00 owed to Brian Gusko, a Director of the Company, through the issuance of 52,500 Units at a price of $0.18 per Unit with a common share purchase warrant exercisable at $0.30 for three years (the "Units") (the "Third Debt Settlement"). The issuance of the Third Debt Settlement Shares is a "related party transaction" pursuant to Multilateral Instrument 61-101- Protection of Minority Holders in Special Transactions ("MI 61-101") and is exempt from the formal valuation and minority shareholder approval requirements of MI61-101 by virtue of the exemptions contained in Sections 5.5(b) and 5.7(1)(b) of MI 61-101. Subject to the written consent of the Canadian Securities Exchange the Third Debt Settlement Shares will not be subject to any hold period.
The debt settlements were approved by the board of directors of the Company, the majority of whom are considered to be independent with reference to MI 61-101. Pursuant to the policies of the Canadian Securities Exchange, the debt settlements cannot close prior to five business days from the announcement of the Company's intention to complete the debt settlements.
About Hyper Bit Technologies Ltd.
Hyper Bit Technologies Ltd. is a forward-thinking, diversified technology company specializing in the acquisition, development, and strategic deployment of crypto mining operations and blockchain-based innovations. As global interest in digital assets accelerates-driven by the rise of blockchain, decentralized finance (DeFi), and increasing institutional and retail adoption-Hyper Bit is committed to unlocking value across the crypto ecosystem while delivering growth for our stakeholders. Hyper Bit Technologies Ltd. is a member of the Blockchain Association of Canada and the American Blockchain & Cryptocurrency Association.
Stay informed on our latest developments by subscribing to Company updates at Hyperbit.ca and follow us across our social media channels: X.com, TikTok, Instagram, and LinkedIn. Hyper Bit Technologies Ltd. is publicly listed in Canada (CSE: HYPE), the USA (OTCID: HYPAF) and in Europe (FSE: N7S0).
ON BEHALF OF THE BOARD
(Signed) "Dallas La Porta" __________
Dallas La Porta, President, CEO and Director
FORWARD-LOOKING STATEMENTS:
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this news release includes statements related to the Proposed Transaction and related matters. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
No investment is without risk. Crypto currencies are particularly volatile and therefore particularly risky. Companies that are developing technologies and investing in crypto mining can potentially be adversely affected by its inherent volatility. Readers are cautioned to always consult an investment advisor to determine if an opportunity is right for you.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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