(TheNewswire)
Edmonton, Alberta – TheNewswire – April 10, 2025 – Bitcoin Well Inc. (“Bitcoin Well” or the “Company”)(TSXV: BTCW; OTCQB: BCNWF), the non-custodial bitcoin enterprise dedicated to empowering independence, is pleased to announce the integration of the Lightning Network for bitcoin sales on the Bitcoin Portal within the USA and for shares to settle debts.
Lightning Network
Integration
Customers can now seamlessly transfer bitcoin from their
personal Lightning wallets to US dollars in their bank using the
Lightning Network. This advancement allows for smaller transactions
with reduced fees for users of the Bitcoin Portal at bitcoinwell.com,
enhancing their financial autonomy.
When customers wish to sell bitcoin, they can simply
specify the dollar amount they want to receive, select their
linked bank account, and choose between the Bitcoin and Lightning
Networks.
In the past, selling bitcoin through the Bitcoin Network
involved paying mining fees and waiting for 4
confirmations before funds were transferred to their bank. Now, this
process is instantaneous and fee-free with the integration of the
Lightning Network into the Bitcoin Portal at bitcoinwell.com.
Due to the non-custodial nature of the Bitcoin
Portal, customers can hold their bitcoin in wallets longer,
enjoying a more fluid user experience. On other platforms, customers
need to pre-fund their bitcoin accounts (which exposes their funds to risk),
sell the bitcoin, and then request a withdrawal to their bank.
With Bitcoin Well, this entire process occurs in one
consolidated action. Customers can move funds directly from their
personal wallets to cash in their banks.
Shares for Debt
Settlement
The Company currently has outstanding debts totaling
$139,817 as of March 31, 2025 (the “Outstanding
Debt”), stemming from specific bitcoin agreements and a
convertible debenture agreement (collectively, the “Agreements”).
The Outstanding Debt includes interest accrued under the Agreements.
Bitcoin Well has opted to resolve $104,155 of the Outstanding Debt by issuing
801,190 common shares in the Company (the “Shares”)
at a deemed price of $0.13 per share and will address another
$35,662 of the Outstanding Debt by issuing 342,903 Shares
at a deemed price of $0.104 per share (the “Debt Settlement”). The Debt
Settlement is pending approval from the TSX Venture Exchange. All Shares issued
in connection with the Outstanding Debt will be subject to a statutory
hold period of four months plus one day.
It is expected that a director of the Company will
participate in the Debt Settlement through a wholly owned subsidiary.
This participation will be classified as a “related party
transaction” according to Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions
(“MI 61-101”). The Company plans to utilize the exemptions
from the formal valuation and minority shareholder approval
requirements outlined in sections 5.5(a) and 5.7(1)(a)
of MI 61-101 regarding the related party involvement in the Debt
Settlement, given that neither the fair market value (as determined under MI
61-101) of the subject matter of nor the fair market value of the
consideration for the transaction is expected to surpass 25% of the
Company’s market capitalization (as assessed under MI 61-101).
About Bitcoin Well
Bitcoin Well is committed to fostering independence. Our
goal is to make bitcoin accessible for everyone, offering the
convenience of modern banking while harnessing the benefits of bitcoin. We see
this as future-proofing currency. Our established Bitcoin ATM and
Online Bitcoin Portal business units generate cash flow to aid in this
mission.
We invite you to join our investor community and connect with us on Nostr, LinkedIn, Twitter, and YouTube to stay updated on our activities.
Bitcoin Well contact information
To arrange a virtual meeting with our Founder & CEO Adam O’Brien, please follow this link: https://bitcoinwell.com/meet-adam
For further investor & media inquiries, please contact:
Adam O’Brien
Tel: 1 888 711 3866
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) is responsible for the adequacy or accuracy of this release.
Forward-looking information
Certain statements in this news release may be deemed forward-looking information, which is usually identified by terms such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, or their negatives and similar expressions. All statements here other than historical facts are considered forward-looking information, including those regarding Bitcoin Well’s business models, strategies, and forecasts. Forward-looking information carries known and unknown risks, uncertainties and other factors that might result in actual outcomes differing significantly from expectations. This includes, but is not limited to, risks outlined in Bitcoin Well’s annual information form and management discussions for the year ended December 31, 2024. Forward-looking information should not be overly relied upon. Any forward-looking information in this release represents Bitcoin Well’s expectations as of today and is subject to change. Bitcoin Well disclaims any intention or obligation to update any forward-looking information unless mandated by applicable securities laws.
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