A-Labs Capital I Corp. Announces Filing of Filing Statement and Final Closing of BTC’s Concurrent Financing - Seite 2

Except as otherwise disclosed in the Filing Statement, the gross proceeds of the Concurrent Financing have been deposited into escrow and will be released to BTC upon satisfaction of the escrow release conditions (the “Escrow Release Conditions”) which were previously disclosed in the Corporation’s news release dated August 20, 2020.

BTC will pay certain finder’s fees in connection with the Concurrent Financing upon satisfaction of the Escrow Release Conditions. Details of the terms of the Subscription Receipts and finder’s fees payable by BTC are more particularly described in the Filing Statement.

Trading Halt

The common shares of the Corporation are currently halted from trading and are expected to remain halted pending completion of the QT.

About BTC

Banxa (BTC) is an internationally compliant fiat-to-crypto gateway solution for exchanges, wallets and other cryptocurrency businesses. Banxa offers global and local payment methods like credit cards and retail store networks. With an easy to integrate API, exchanges, wallet providers and other industry players can offer their customers an easy and secure way to buy cryptocurrency. Banxa takes care of all regulations, payment network integrations, operational overheads, and fraud management.

About ALBS

ALBS is a capital pool company, pursuant to Policy 2.4 of the Exchange, formed to identify and evaluate potential acquisitions of commercial businesses or assets. Except as specifically contemplated in the Policy, ALBS does not carry business other than the identification and evaluation of businesses or assets with a view to completing a proposed Qualifying Transaction.

Additional Information

All information contained in this news release with respect to BTC, including the gross proceeds of the Concurrent Financing, was supplied by BTC for inclusion herein, without independent review by the Corporation, and the Corporation and its directors and officers have relied such information concerning BTC.

Additional terms of the QT were previously disclosed in the Corporation’s news releases dated February 19, 2020, August 20, 2020 and November 18, 2020 and are available under the Corporation's SEDAR profile at www.sedar.com.

For further information:

A-Labs Capital I Corp.
Doron Cohen
CEO and Director of the Corporation
[phone]
[e-mail]

BTC Corporation Holdings Pty Ltd.
Domenic Carosa
Founder & Chairman
[phone]