With Bitcoin completing a bullish MACD cross and NFT being the hot new thing, BCFN represents a very good opportunity at below 30M mkt cap. 10M private placement should be closing within days and it is already spoken for by institutional investors. Watch for a much bigger move as it was trading over .80 only a few days ago.
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Blockchain Foundry Closes CAD$10 Million Private Placement with Institutional Investors
TORONTO, March 10, 2021 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to announce that it has closed its previously announced private placement of equity securities (the “Private Placement”). The Private Placement was for gross proceeds of approximately CAD$10,055,000 and consisted of the sale of 29,792,595 common shares (“Common Shares”) and warrants to purchase up to 29,792,595 Common Shares (“Warrants”), at a purchase price of CAD$0.3375 per Common Share and associated Warrant. The Warrants have an exercise price of CAD$0.45 per Common Share and may be exercised at any time prior to the fifth-year anniversary of the issuance date.
H.C. Wainwright & Co. acted as the exclusive placement agent for the Private Placement.
The net proceeds of the Private Placement will be used by the Company for working capital and general corporate purposes, including, without limitation, hiring of development and other personnel, marketing the Company’s products and services and repayment of debt.
H.C. Wainwright & Co. was paid a cash commission of 8.0% of the gross proceeds raised in the Private Placement and was issued warrants (the “Broker Warrants”) to purchase up to 2,383,408 Common Shares. Each Broker Warrant has an exercise price of CAD$0.45 per Common Share and may be exercised at any time prior to the fifth-year anniversary of the issuance date.TORONTO, March 10, 2021 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to announce that it has closed its previously announced private placement of equity securities (the “Private Placement”). The Private Placement was for gross proceeds of approximately CAD$10,055,000 and consisted of the sale of 29,792,595 common shares (“Common Shares”) and warrants to purchase up to 29,792,595 Common Shares (“Warrants”), at a purchase price of CAD$0.3375 per Common Share and associated Warrant. The Warrants have an exercise price of CAD$0.45 per Common Share and may be exercised at any time prior to the fifth-year anniversary of the issuance date.
H.C. Wainwright & Co. acted as the exclusive placement agent for the Private Placement.
The net proceeds of the Private Placement will be used by the Company for working capital and general corporate purposes, including, without limitation, hiring of development and other personnel, marketing the Company’s products and services and repayment of debt.
H.C. Wainwright & Co. was paid a cash commission of 8.0% of the gross proceeds raised in the Private Placement and was issued warrants (the “Broker Warrants”) to purchase up to 2,383,408 Common Shares. Each Broker Warrant has an exercise price of CAD$0.45 per Common Share and may be exercised at any time prior to the fifth-year anniversary of the issuance date.
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Meanwhile... JPG File Sells for $69 Million, as ‘NFT Mania’ Gathers Pace
I don't think that $1 (CAD) will be a big resistance. I see it more in the $2 - $3 range (NO FINANCIAL ADVICE!) in a few months. But in the shortterm i don't know. Doing DCA for a few weeks while watching the BTC price seems to be a good idea.