Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) has announced a strategic investment of C$1.4 million from a group of investors led by entrepreneur Antanas Guoga, known as Tony G.
Guoga is the chairman of Sol Strategies Inc, a Canadian holding company focused on technology and cryptocurrency investments.
His firm recently reached a market capitalization of over $300 million, a statement from Blockmate noted.
The funds will support the expansion of Blockmate’s portfolio, including the launch of new companies.
Blockmate's primary asset, its controlling stake in Hivello Holdings Ltd, has been able to secure independent capital since December 2023. The new capital will enable Blockmate to accelerate the development of additional ventures.
“Securing support from a visionary like Tony G and his esteemed colleagues marks a defining moment for Blockmate, strengthening our ambition to drive innovation at the intersection of blockchain and sustainability,” Justin Rosenberg, CEO of Blockmate said in a statement.
“His expertise and belief in our mission empower us to fast-track our roadmap, accelerating the development of powerful, scalable solutions. With this capital injection, we are poised to launch new projects with as much promise as Hivello, while diversifying Blockmate’s portfolio.”
The offering will consist of 14 million units priced at $0.10 each. Each unit includes one common share and one common share purchase warrant, which can be exercised at $0.50 for 36 months.
Guoga will be restricted from reselling his 10 million units for 12 months, while other units will be subject to the standard four-month holding period.