Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) said it had wrapped up a strategic investment, raising $1.4 million through a group of investors led by Antanas Guoga, known as Tony G.
The funding supports Blockmate’s growth in blockchain innovation and commitment to transformative technology.
The offering involved issuing 14 million units priced at $0.10 per unit, with each unit comprising one common share and one warrant exercisable at $0.50 until December 2027.
Tony G voluntarily agreed to a resale restriction on the 10 million units he acquired until December 2025, according to a statement from the company.
Separately, Blockmate granted 5.275 million incentive stock options, 1.2 million restricted share units (RSUs), and 5 million deferred share units (DSUs) under its incentive plan. Some of these awards require shareholder approval for ratification.
Director Domenic Carosa received 5 million options and the same number of DSUs, bringing his potential holdings to 31.8 million shares, or 19.8% of the company, assuming full exercise of options and warrants.
Blockmate plans to seek shareholder approval for expanding its incentive plan at the next general meeting.