BTL Group closes $15.3M financing

BTL Group Ltd.



News Release

BTL GROUP ANNOUNCES CLOSING OF BROKERED OFFERING AND CONCURRENT NON-BROKERED OFFERING OF EQUITY UNITS

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Vancouver, Canada / London, UK November 23, 2017
BTL GROUP LTD. (TSX Venture: BTL) (“BTL” or the “Company”) is pleased to announce that, on November 23, 2017, it closed the previously announced brokered private placement (the “Brokered Offering”) of 2,184,000 equity units of the Company (“Units”) at an issue price of C$4.90 per Unit, for aggregate gross proceeds of approximately C$10.7 million. Each Unit is comprised of one common share of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”), with each Warrant entitling the holder to purchase one Common Share at an exercise price of C$7.00 per Common Share until November 23, 2018.

In connection with the Brokered Offering, BTL entered into an agency agreement with GMP Securities L.P. (the “Agent”), whereby BTL agreed to pay the Agent a fee equal to 6.0% of the aggregate gross proceeds received under the Brokered Offering.

BTL is also pleased to announce it has closed its previously announced concurrent non-brokered private placement (the “Non-Brokered Offering” and together with the Brokered Offering, the “Offerings”) of 938,774 Units at an issue price of C$4.90 per Unit, for aggregate gross proceeds of approximately C$4.6 million. In connection with the Non-Brokered Offering, the Company has paid a finder’s fee to Smaller Capital Company Ltd. of C$276,000.

In connection with the Offerings, BTL issued an aggregate of 3,122,774 Common Shares and 1,561,387 Warrants, for gross proceeds of approximately C$15.3 million.

“We are delighted to have completed this funding round, where we saw significantly increased investor demand given the recent progress and exciting news from the Company. The capital will be used to rapidly expedite our go to market strategy for our third generation blockchain platform, InterbitTM. As we have proven throughout this year in our customer journeys, InterbitTM meets the requirements of industry via its scalability and privacy, with the platform using its multiple connected blockchains, aiming to handle hundreds of thousands of transactions per second. Our plan is to deliver a product that will be relevant in many years to come, as we envisage widespread enterprise adoption of blockchain technology”, said Dominic McCann, CEO of BTL.

The Common Shares, Warrants and Common Shares underlying the Warrants are subject to statutory hold periods which BTL intends to use the proceeds from the Offerings in connection with final development of InterbitTM and towards general and administrative expenses.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ABOUT BTL AND INTERBITTM
Listed on the TSX Venture Exchange (TSX Venture: BTL) and operating from both Canada and the UK, BTL is an enterprise technology platform provider that is developing Interbit, a proprietary third generation blockchain platform. Via Interbit, BTL can help companies greatly reduce risks and costs by securely streamlining existing IT infrastructures. BTL has successfully demonstrated how Interbit can innovate and transform existing business processes for leading companies in the finance, energy and gaming sectors.

Interbit is a fast, private, and scalable inter-connected blockchain platform. Via its suite of APIs and smart contracts, Interbit allows businesses around the world to improve efficiency in trading and operations, accelerate development of internal systems, and embrace new revenue generating opportunities, while providing the high levels of security, resilience and auditability required in regulated enterprise environments.

With offices in Vancouver and Calgary, Canada and London, UK, BTL is positioning itself as a front-runner in the blockchain ecosystem, partnering with and enabling enterprises on Interbit in order to improve their existing IT systems.

Website: www.btl.co
Twitter: https://twitter.com/blockchainltd

For further information please contact:
Angus Campbell, Inquiries
Phone: +44 (0) 20 7100 0850
Email: Angus.Campbell@staturepr.com

Dominic McCann, CEO
Phone: +1 855 256 5246
Email: dominic@btl.co