Hyper Bit Announces Closing of Convertible Debenture Financing

Executive Summary

• Hyper Bit Technologies closed a non‑brokered private placement of unsecured convertible debentures for gross proceeds of $435,583.15.
• The debentures carry a 15 % original issue discount and are convertible at $0.30 per unit (each unit = 1 common share + 1 warrant).
• Proceeds will be used to fund the purchase of up to 75 additional ElphaPex DG2 miners and for general working capital, supporting the company’s planned acquisition of Dogecoin Mining Technologies and expansion of mining operations.

Key Details

• Offering size: Principal amount of $512,450.77 in unsecured convertible debentures.
• Discount & Net proceeds: 15 % OID; gross cash received $435,583.15.
• Interest & maturity: Non‑interest bearing; matures three (3) months after issuance.
• Conversion terms:
• Conversion price of $0.30 per Unit (principal less OID).
• Convertible at holder’s option any time after issuance and on or before maturity.
• Unit composition: Each Unit = 1 common share + 1 Common Share purchase warrant.
• Warrant terms: Right to acquire one common share at $0.40 per share for 36 months from issuance.
• Finder’s fee: Cash finder fee of $4,462.50 paid to an arm’s‑length finder.
• Statutory hold period: Securities subject to a four‑month‑plus‑one‑day hold period under Canadian securities law.
• Use of proceeds:
• Purchase up to 75 ElphaPex DG2 miners (additional mining equipment).
• General working capital to support acquisition of Dogecoin Mining Technologies and scaling of active mining operations.

Notable Quotes

“This financing strengthens our financial position as we move toward completing the acquisition of Dogecoin Mining Technologies and transitioning into active mining operations. Our immediate focus is on preparing infrastructure and securing next generation mining equipment, ensuring we're ready to scale quickly and efficiently.” – Dallas La Porta, President & CEO

Materiality Assessment: Material – Positive (significant financing that directly funds expansion and acquisition plans).