Skip to main content

Adam O’Brien Acquires Shares of Bitcoin Well Inc. Pursuant to Conversion of Convertible Note

Written by Customer Service on . Posted in Public Companies.

EDMONTON, Alberta, Sept. 09, 2021 (GLOBE NEWSWIRE) — Adam O’Brien (“Mr. O’Brien”), a director and chief executive officer of Bitcoin Well Inc. (formerly Red River Capital Corp.) (the “Company”) today announced that on August 27, 2021 he acquired an aggregate of 6,250,000 common shares (“Common Shares”) of the Company pursuant to the conversion (the “Conversion”) of a non-interest bearing convertible note (the “Note”) in the principal sum of $750,000, which was issued to Mr. O’Brien on August 1, 2020. Pursuant to the terms of the Note, the Common Shares issued in connection with the Conversion were issued at a deemed price of $0.12 per Common Share.

Prior to the Conversion, Mr. O’Brien had ownership and direction or control over an aggregate of 73,242,815 Common Shares, representing approximately 44.92% of the issued and outstanding Common Shares on a non-diluted basis. As a result of the Conversion, Mr. O’Brien has ownership and direction or control over an aggregate of 79,492,815 Common Shares, representing 46.95% of the issued and outstanding Common Shares on a non-diluted basis.

The securities of the Company were acquired for investment purposes. Mr. O’Brien may, from time to time, increase or decrease his beneficial ownership or control in the Company as circumstances and market conditions warrant.

This news release is issued pursuant to National Instrument 62-103 – The Early Warning System. A copy of the related early warning report can be obtained from the Company at (780) 423-7215 or on the Company’s SEDAR profile at www.sedar.com.

The Company’s head office address is located at 10142 -82 Avenue NW, Edmonton, Alberta T6E 1Z4.

About Bitcoin Well

Bitcoin Well offers convenient, secure and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services. The Company generates revenue and based on management’s assessment of publicly-available data, is the first publicly traded Bitcoin ATM company in the world, with an enterprising consolidation strategy to deliver accretive and cost-effective expansion in North America and globally. As leaders of the longest-running, founder-led Bitcoin ATM company in Canada, management of Bitcoin Well brings deep operational capabilities that span the entire value chain along with access to proprietary, cutting-edge software development that supports further expansion. Sign up for our newsletter and follow us on LinkedIn, Twitter, Facebook and Instagram to keep up to date with our business.

Contact Information

For investor information, please contact:

Bitcoin Well

10142 82 Avenue NW
Edmonton, AB T6E 1Z4
bitcoinwell.com
investors@bitcoinwell.com

Adam O’Brien, President & CEO or
Dave Bradley, Chief Revenue Officer
Tel: 1 888 711 3866
ir@bitcoinwell.com

For media queries and further information, please contact:

Karen Smola, Director of Marketing
Tel: 587-735-1570
k.smola@bitcoinwell.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.