Cypherpunk Holdings Announces Successful Completion of Normal Course Issuer Bid

Rhea-AI Summary

Cypherpunk Holdings has successfully completed its Normal Course Issuer Bid (NCIB), buying and canceling 7,603,343 common shares at an average price of CAD $0.1228 per share, representing about 5% of its outstanding shares as of February 20, 2024. The company also sold 1,507,692 shares of Animoca Brands for USD $980,000 and acquired 6,131 Solana (SOL) at an average price of USD $163.11 each. Cypherpunk reaffirms its commitment to the cryptocurrency sector, recognizing its substantial financial opportunities, and will continue to explore strategic avenues in this space.

Positive

• Completed NCIB, buying and canceling 7,603,343 shares, reducing share count by about 5%.
• Average share repurchase price at CAD $0.1228 reflects confidence in the company's value.
• Sold 1,507,692 shares of Animoca Brands for USD $980,000, enhancing liquidity.
• Acquired 6,131 Solana (SOL) at an average price of USD $163.11, signaling a strategic investment in cryptocurrency assets.
• Reaffirmed commitment to the cryptocurrency sector, indicating potential for substantial financial opportunities.

Negative

• Significant financial outlay for share buybacks and new investments might strain cash reserves.
• Dependence on cryptocurrency investments could expose the company to high market volatility.
• No concrete updates on future strategic direction, leading to potential investor uncertainty.

Toronto, Ontario--(Newsfile Corp. - June 12, 2024) - Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) (the "Company") is pleased to announce the successful completion of its Normal Course Issuer Bid ("NCIB"), initially announced on February 20, 2024.

Under the NCIB, the Company has purchased and cancelled a total of 7,603,343 common shares at an average price of CAD $0.1228 per share. These shares represent approximately 5% of the Company's issued and outstanding common shares as of the commencement of the NCIB. The Company believes that the NCIB was a prudent use of its financial resources and reflects its confidence in the long-term value of the business.

In addition, the Company has sold an additional 1,507,692 shares of Animoca Brands for net consideration of USD $980,000. Furthermore, Cypherpunk Holdings Inc. has acquired 6,131 Solana (SOL) at an average price of USD $163.11.

Following a comprehensive review, as detailed in the press release dated March 11, 2024, Cypherpunk Holdings has determined to continue its operations within the cryptocurrency sector. The Company recognizes the substantial financial opportunities within the cryptocurrency and blockchain industry and will strategically pursue these prospects. Further updates on the Company's future direction will be provided in due course.

About Cypherpunk Holdings Inc.

Cypherpunk Holdings is dedicated to investing in companies, technologies, and protocols within the blockchain ecosystem. With a strategic focus on cryptocurrency and blockchain innovation, the Company leverages its extensive industry expertise to identify and support high-potential opportunities in the digital asset space.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved".

There is no assurance that the Company's plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Officer/Director Contact:
Doug Harris
Chief Financial Officer
doug@cypherpunkholdings.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212701

FAQ

What is the outcome of Cypherpunk Holdings' Normal Course Issuer Bid?

Cypherpunk Holdings completed its NCIB, buying and canceling 7,603,343 shares at an average price of CAD $0.1228 per share.

How many shares did Cypherpunk Holdings repurchase under the NCIB?

Cypherpunk Holdings repurchased and canceled 7,603,343 shares under the NCIB.

What was the average price per share for the NCIB repurchases by Cypherpunk Holdings?

The average price per share for the NCIB repurchases was CAD $0.1228.

How many shares of Animoca Brands did Cypherpunk Holdings sell?

Cypherpunk Holdings sold 1,507,692 shares of Animoca Brands.

What was the net consideration for the sale of Animoca Brands shares?

The net consideration for the sale of Animoca Brands shares was USD $980,000.

How many Solana (SOL) tokens did Cypherpunk Holdings acquire?

Cypherpunk Holdings acquired 6,131 Solana (SOL) tokens.

What was the average purchase price for the Solana (SOL) tokens acquired by Cypherpunk Holdings?

The average purchase price for the Solana (SOL) tokens was USD $163.11.

What sector does Cypherpunk Holdings plan to continue operating in?

Cypherpunk Holdings plans to continue operating in the cryptocurrency sector.