Vinanz Ltd (LSE: BTC, OTCQB: VINZF), a Bitcoin treasury and mining company with operations in the US and Canada, has fully repaid a $2 million debt facility by transferring shares from its executive directors to the lender, effectively terminating the prior investment agreement.
The financing arrangement, signed in May with an institutional investor, had provided up to $4 million in potential funding. Vinanz elected not to draw down the remaining $2 million and instead negotiated a settlement to close the facility.
As part of the agreement, executive directors David Lenigas and Jeremy Edelman each transferred approximately 5.4 million Vinanz shares from their personal holdings to the investor, fulfilling the company’s repayment obligations in full.
To compensate, Vinanz has agreed to issue new shares to Lenigas and Edelman on demand, under an arm’s-length loan arrangement.
Chief Executive Officer Hewie Rattray commented:
“The repayment of this facility strengthens our capital position and provides greater flexibility as we continue executing our Bitcoin accumulation strategy. We view the debt markets as an important lever for growth and are now well-positioned to pursue more structured, strategic financing aligned with our long-term objectives.”
For further information please contact:
Vinanz Limited
Hewie Rattray, CEO hewie@vinanz.co.uk hewie@ldnbtc.com
Rob Scott, Finance Director rob@vinanz.co.uk rob@ldnbtc.com
David Lenigas, Chairman david@vinanz.co.uk david@ldnbtc.com
Jeremy Edelman jeremy@vinanz.co.uk jeremy@ldnbtc.com
