SonicStrategy plans private placement of up to $4.5M

SonicStrategy Inc. (CSE: SONI) (OTCQB: SONIF) announced a proposed non-brokered private placement of up to 22,500,000 common shares at $0.20 per share, seeking gross proceeds of up to $4,500,000. No warrants will be issued under the offering.

According to the company's press release, the offering is structured to include up to $2,250,000 in cash subscriptions and up to $2,250,000 in subscriptions settled in digital assets. Digital asset subscriptions will be valued at the lower of a fixed reference price and a 10-trading-day volume-weighted average price of each digital asset.

The Toronto-based company said it intends to use cash proceeds to expand its digital asset treasury and validator operations, as well as for general working capital. Digital assets received are expected to be held in the company's treasury or deployed in staking and validator operations.

All securities issued will be subject to a hold period of four months and one day from the date of issuance. The closing of the offering remains subject to approval from the Canadian Securities Exchange. The company may pay finder's fees in accordance with CSE policies.

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