- Hyper Bit Technologies (OTC:HYPAF) has drawn C$150,000 from Bit Royalty's credit facility.
- The credit facility provides up to C$1,000,000 with a 10% annual interest rate and the option to convert to equity.
- Securities issued under the facility are subject to a four-month-and-one-day hold period.
Hyper Bit Technologies Ltd. (OTC:HYPAF) has announced a third draw of C$50,000 from Bit Royalty’s credit facility, raising the total borrowed amount to C$150,000. The recent draw will be used to purchase approximately one Bitcoin as part of Hyper Bit's strategy to expand its cryptocurrency holdings.
The Bit Royalty credit facility offers Hyper Bit up to C$1,000,000 in financing for cryptocurrency acquisitions. It carries an annual interest rate of 10% and includes an option for Bit Royalty to convert the debt to equity. This flexibility allows Hyper Bit to purchase various cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, USDC, XRP, Solana, and Cardano.
All securities issued under this facility will follow a statutory four-month-and-one-day hold period in compliance with applicable securities laws and Canadian Securities Exchange (CSE) policies. Additionally, Hyper Bit incurs a C$5,000 custodial fee, also convertible to company shares, as part of the agreement.
The agreement emphasizes a strategic partnership between Hyper Bit and Bit Royalty, aiming to systematically grow Hyper Bit's cryptocurrency portfolio and enhance the company’s presence within the digital asset market. Hyper Bit remains optimistic about the growth potential in the cryptocurrency sector and is committed to leveraging its partnerships for strategic expansion.
