Spirit Blockchain Capital Inc. (CSE: SPIR) announced the completion of a non-brokered private placement that raised CAD $441,334.43 in gross proceeds, according to a company statement.

The Vancouver-based blockchain infrastructure company issued 31,523,888 units at $0.014 per unit. Each unit includes one common share and one warrant that allows the purchase of an additional common share at $0.05 for three years from the date of issuance.

The warrants contain an acceleration clause that permits the company to expedite the expiry date with 30 days' notice if the volume weighted average price of common shares reaches or exceeds $0.075 for 10 consecutive trading days on the Canadian Securities Exchange.

Investors from Canada, Ireland, Bermuda, the United States and Switzerland participated in the offering. An insider participated in the transaction, which the company classified as a related party transaction under securities regulations.

The company reported several operational developments for the quarter ended March 31, 2026, including the appointment of Raymond O'Neill as Interim Chief Executive Officer, Chief Financial Officer and Corporate Secretary. Spirit Blockchain also conducted internal restructuring and reviewed previously funded technology initiatives including wallet infrastructure and tokenization platforms.

The company stated it maintained compliance with Canadian Securities Exchange requirements and continued regulatory filings coordination. It plans to use the net proceeds for general working capital and strategic initiatives.

All securities issued are subject to a four-month and one-day statutory hold period. The offering requires final acceptance from the Canadian Securities Exchange.