Hyper Bit Signs Binding LOI for Credit Facility to Purchase Bitcoin and Dogecoin
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2025) - HYPER BIT TECHNOLOGIES LTD. (CSE: HYPE) (OTC Pink: HYPAF) (FSE: N7S0) (the "Company" or "Hyper Bit") announces it has entered into a binding letter of intent (the "LOI") dated June 11th 2025, with 663312 BC Ltd. doing business as "Bit Royalty" to provide a credit facility through which the Company may from time to time and at its discretion, acquire Bitcoin and Dogecoin directly from Bit Royalty in exchange for shares of the Company.
The agreement allows for the Company to acquire Bitcoin and or Dogecoin on a transactional basis, with pricing to be determined at the time of each transaction. Each transaction will be subject to due diligence and will comply with all applicable Canadian securities laws and the policies of the Canadian Securities Exchange.
Bit Royalty shall provide a credit facility of up to CAD $1,000,000.00 which may be advanced in one or more tranches, subject to mutual agreement. The proceeds shall be used by Hyper Bit solely to acquire Bitcoin, Dogecoin or Other Mutually Agreed Crypto Currencies as treasury assets. Drawdowns shall be made upon written notice by Hyper Bit and subject to customary conditions precedent agreed between the Parties.
The facility shall bear interest at 10%, calculated annually. All outstanding principal and interest shall be due and payable within 90 days, unless converted earlier. The Parties agree to negotiate in good faith to enter into a definitive credit agreement and ancillary documents (the "Definitive Agreements") within 45 days of execution of this LOI.
Any securities of the Company issued in connection with the facility will be subject to a statutory four-month-and-one-day hold period, in accordance with applicable securities laws, and a concurrent four-month hold period imposed under CSE policies, in each case, commencing on the date of issuance.
Mr. Dallas La Porta, President, CEO and Director of Hyper Bit Technologies Ltd., stated: "Our partnership with Bit Royalty marks the beginning of building the Company's Bitcoin and Dogecoin positions, enabling Hyper Bit to utilize its common shares as currency to expand its exposure to Bitcoin and Dogecoin. By establishing a hedged Bitcoin and Dogecoin position and expanding our mining operations for cryptocurrencies such as Dogecoin, Litecoin, and Alleocoin—which can be converted to Bitcoin on a percentage basis-we are pursuing a robust and strategic approach to growth in the crypto currency sector."