BTL Group Ltd.
TSX VENTURE : BTL

BTL Group Ltd.

November 01, 2017 11:41 ET

BTL™ Announces Non-Brokered Private Placement for Up to $8 Million of Equity Units

VANCOUVER, BRITISH COLUMBIA and LONDON, UNITED KINGDOM--(Marketwired - Nov. 1, 2017) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

BTL GROUP LTD. (TSX VENTURE:BTL) ("BTL") announces a proposed non-brokered private placement of up to 1,632,653 equity units of BTL ("Equity Units") at a price of CAD$4.90 per Equity Unit for gross proceeds of up to CAD$8,000,000 (the "Private Placement").

Each Equity Unit will be comprised of one (1) common share of BTL and one-half of one (1/2) common share purchase warrant of BTL (a "Warrant"). Each whole Warrant will entitle the holder to acquire one (1) common share of BTL for a period of 12 months from the date of issuance of the Warrant, at an exercise price of CAD$7.00 per share.

The Private Placement is subject to the approval of the TSX Venture Exchange. The securities issued in connection with the Private Placement will be subject to a four-month hold period, in accordance with applicable securities laws.

BTL intends to use the proceeds from the Private Placement in connection with final development of Interbit™, BTL's proprietary third generation blockchain platform, and towards general and administrative expenses.

BTL may pay a commission or finder's fee to eligible parties in connection with the Private Placement, subject to the approval of the TSX Venture Exchange and compliance with applicable securities laws.

ABOUT BTL AND INTERBIT

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

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Private Placement and has neither approved nor disapproved the contents of this press release.

Certain statements in this release are forward-looking statements, which include completion of the proposed Private Placement, the anticipated use of the proceeds of the Private Placement, the development and launch of BTL's technologies and products, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of BTL's technologies and products, and other factors, many of which are beyond the control of BTL. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BTL disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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