TSX Venture Exchange Stock Maintenance Bulletins

VANCOUVER, BC, Aug. 1, 2024 /CNW/ -

TSX VENTURE COMPANIES

BULLETIN V2024-2328

CATHEDRA BITCOIN INC. ("CBIT")
BULLETIN TYPE: Reverse Takeover-Completed, Amendment – Convertible Debentures, Resume Trading
BULLETIN DATE: August 1, 2024
TSX Venture Tier 1 Company

TSX Venture Exchange (the "Exchange") has accepted for filing Cathedra Bitcoin Inc.'s (the "Company") Reverse Takeover ("RTO") as described in its Information Circular dated June 18, 2024, which includes the following transactions:

In connection with the RTO, the Company's articles and notice of articles were amended to, among other things (a) change the name of Company's common shares to Subordinate Voting Shares ("SVS"), (b) create a new class of unlimited Multiple Voting Shares ("MVS").  Please refer to the Capitalization section for a description of the capitalization of the Company.

Pursuant to the share exchange agreement dated March 6, 2024, as amended on June 18, 2024 (together, the "Share Exchange Agreement") between the Company, Kungsleden, Inc. ("Kungsleden") and Kungsleden's shareholders (the "Vendors", and together with the Company and Kungsleden, the "Parties"), the Company acquired all of the outstanding shares of Kungsleden from the Vendors in exchange for 6,253,429 MVS of the Company. The 6,253,429 MVS issued to the Vendors are convertible into 625,342,900 SVS of the Company. The RTO resulted in the Vendors owning (on a non-diluted basis) approximately 72.5% of the equity of the Company and existing Company shareholders owning the remaining 27.5% of the equity of the Company. The Vendors hold approximately 80% of the voting rights of the Company and existing Company shareholders hold the remaining 20% of the voting rights of the Company.

The Exchange has been advised that the RTO, approved by shareholders in the Annual General and Special Meeting of shareholders on July 22, 2024, has been completed.

Amendment – Convertible Debentures

The Exchange has also accepted for filing an amendment of the convertible debentures issued in a Non-Brokered Private Placement:

Convertible Debenture: $5,733,727 principal amount
Conversion Price: Convertible into common shares at $0.15 per share [reduced from C$0.78]
Maturity Date: November 11, 2025 [unchanged]

Please refer to the Exchange bulletin dated November 22, 2021 for the original acceptance of these convertible debentures, and the Exchange bulletin dated December 23, 2023 for the acceptance of the first amendment to these convertible debentures.