Belgravia Hartford Repays USD $1.5 Million Line of Credit via Bitcoin Standard Agreement; Updates Bitcoin Treasury holdings
Under the loan agreement, Belgravia held 14.21448 Bitcoin and exercised its repayment option to return the Bitcoin held under the agreement to offset the outstanding loan balance. This debt repayment eliminates an overhang and exposure associated with the line of credit and further strengthens Belgravia's balance sheet. The interest associated will be calculated at the
"Retiring the line of credit removes a meaningful overhang and represents another step in executing our Bitcoin treasury strategy," said
Bitcoin Treasury Update
Following the repayment:
- 68.72854407 Bitcoin are now held by Belgravia
- 26.350911 Bitcoin are unencumbered and 100% owned by Belgravia
Convertible Debenture and Acceleration Provision
Belgravia also confirmed that the
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in
Neither CSE nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.
About Belgravia Hartford
For more legal disclaimer and information, please visit: www.belgraviahartford.com
Neither CSE nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, the inability of the Company to utilize the anticipated proceeds of the Offering, the Company's ability to protect and enhance shareholder value and growth, the Company's ability to launch its Bitcoin focused technical tools, the dilution effects of the Offering and the Debenture, the long term success of the Company, Company meeting all conditions for a timely closing of the Debenture, including obtaining all required approvals, and other statements that are not historical facts. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, changes in market trends, the completion, results and timing of research undertaken by the Company, risks associated with resource assets, the impact of general economic conditions, commodity prices, industry conditions, dependence upon regulatory, environmental, and governmental approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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