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VANCOUVER, British Columbia, March 12, 2024 (GLOBE NEWSWIRE) — Spirit Blockchain Capital Inc. (the “Company” or “Spirit”) (CSE: SPIR), a leader in blockchain and digital asset investments, and Vesta Equity Inc. Vesta Equity, Inc. (“Vesta Equity”), a pioneer in the tokenization of residential equity, has signed an agreement with Spirit to make a strategic investment in Vesta Equity. This was jointly announced. With this investment, Spirit and Vesta Equity will collaborate on initiatives focused on innovating the real estate investment sector, expanding the range of investment options, and introducing new opportunities for asset owners and investors.
Vesta Equity’s innovative platform is designed to help property owners access their assets without resorting to debt. It offers both retail and institutional investors the opportunity to directly purchase tokens representing shares in residential real estate. This model not only facilitates additional income from real estate appreciation and coupons and dividends, but also allows for the construction of a diversified real estate portfolio similar to stock investing.
Spirit CEO Louis Bateman clearly expressed his enthusiasm for the partnership, saying, “Our partnership with Vesta Equity is not just strategic, it is transformational. We are on the brink of unlocking tremendous value in the sector and are fully aligned with the real estate sector.” This is our pioneering vision in the digital asset space. ”
Echoing Bateman’s sentiments, Michael Carpentier, co-founder and CEO of Vesta Equity, emphasized the transformational impact of this partnership, saying, “Spirit Blockchain Capital “With our partnership, we intend to modernize the interaction between homeowners and investors in real estate equity. Our platform democratizes access.” We provide direct, transparent and disaggregated investment opportunities for real estate investing, providing liquidity and superior risk-adjusted returns. ”
Under this investment, Spirit will acquire 270,727 shares of Vesta Equity common stock. This represents 2% of the outstanding common shares. Spirit will then issue 2,054,722 shares of its common stock to Vesta Equity on a private placement basis at a deemed price of approximately $0.085 per share. Common shares issued to Vesta Equity are subject to statutory resale restrictions for a period of four months and one day after issuance. This investment is subject to approval by the Canadian Securities Exchange.
About Vesta Equity: Vesta Equity is building a home equity ecosystem for the Web 3.0 economy. They are at the forefront of real estate equity tokenization, providing a platform where homeowners can access equity debt-free and investors can participate in residential real estate equity through tokenization. This innovative approach provides transparency, liquidity and superior returns, transforming the way real estate stocks are accessed and invested.
For more information about Vesta Equity, please see below. www.vestaequity.net
For media inquiries regarding Vesta Equity, please contact:
michael carpentier
chief executive officer pr@vestaequity.net
About Spirit Blockchain Capital
Spirit Blockchain Capital is a leading investment firm at the forefront of the blockchain industry. Through our operations and asset management businesses, we provide investors with a variety of opportunities to increase the value of their capital. With a focus on innovation, strategic investment, and operational excellence, Spirit Blockchain is poised to unlock the potential of the digital economy.
Learn more about Spirit Blockchain Capital below. www.spiritblockchain.com
For media inquiries, please contact us below.
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. “expect”, “anticipate”, “continue”, “estimate”, “objective”, “may”, “plan”, “predict”, “should”, Use of words such as “believe” and “plan.” , “intended” and similar expressions are intended to identify forward-looking information or statements. Forward-looking statements and information are based on certain material expectations and assumptions made by the Company. Although we believe that the expectations and assumptions underlying such forward-looking statements and information are reasonable, we can give no assurance that forward-looking statements and information will prove to be correct. You should not place undue reliance on forward-looking statements and information. correct. Forward-looking statements and information address future events and conditions and, by their nature, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described under the heading “Risk Factors” in our long-form prospectus dated August 8, 2022. A prospectus is available from our profile on his SEDAR at www.sedar.com. We undertake 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. Forward-looking statements cannot be guaranteed and actual future results may differ materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
CSE has not reviewed, approved, or disapproved the contents of this press release.
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