Matador Technologies Inc. Plans to Raise $3 Million for Bitcoin Purchases Amid Strategic Growth

COINOTAG News reports that Canadian firm Matador Technologies Inc. has unveiled plans for a non-brokered private placement, aiming to issue a maximum of 5,454,546 units at 0.55 CAD per share. The company anticipates raising as much as 3 million CAD. Notably, approximately one-third of the net proceeds from this offering will be allocated to Bitcoin purchases, as well as advancing its gold acquisition strategy and Grammy business initiatives, alongside general corporate needs. Earlier this year, on January 13, Matador completed the acquisition of around 29 bitcoins for 4.5 million CAD, translating to an average price of 96,341 USD per bitcoin, reflecting its commitment to expanding its footprint in the cryptocurrency market.