Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF, FRA:8MH), a venture builder focused on AI, Bitcoin and digital infrastructure, said it has closed its previously announced non-brokered private placement for gross proceeds of $1 million, surpassing its original financing target of $750,000.
Net proceeds will be used to advance the company's Wyoming AI data centre opportunity, including engineering, surveying, site planning, local engagement, and fibre and power-related diligence and development work, as well as for general working capital.
"The successful completion of the offering allows us to continue advancing our Wyoming AI data centre opportunity while broadening our engagement with investors and strategic partners," said Domenic Carosa, chairman of Blockmate.
The offering consisted of 20 million units priced at $0.05 per unit. Each unit comprised one common share and one common share purchase warrant, with each warrant entitling the holder to acquire an additional common share at $0.075 for 24 months from the date of issuance.
Directors of the company subscribed for approximately 29% of the offering.
Additionally, Blockmate said it will undertake a non-deal investor roadshow in Toronto, where management expects to meet with existing shareholders, brokers, institutional investors, family offices and strategic partners to discuss its AI, Bitcoin and digital infrastructure strategy, including progress on its Wyoming AI data centre opportunity.
The Toronto meetings follow recent investor meetings in Vancouver and are part of Blockmate's ongoing effort to improve shareholder engagement and expand awareness within Canadian capital markets.
"Following a productive week of meetings in Vancouver, we're looking forward to continuing those discussions during our Toronto investor roadshow,” Carosa added.