Blockmate plans $750,000 private placement for Wyoming data centre

Blockmate Ventures Inc. (TSXV: MATE) (OTCQB: MATEF) (FSE: 8MH) announced plans for a non-brokered private placement of up to $750,000, with proceeds directed toward developing an AI data centre opportunity in Wyoming.

The offering consists of up to 15,000,000 units priced at $0.05 per unit. Each unit includes one common share and one warrant, with each warrant exercisable at $0.075 per share for 24 months from issuance. The company may accept oversubscriptions of up to an additional $250,000, bringing potential gross proceeds to $1,000,000.

Commitments have been received from members of the board of directors and external shareholder Gleneagle Securities. No finder's fees are payable in connection with the offering.

Net proceeds are intended to fund engineering, surveying, site planning, local engagement, and fibre and power-related diligence for the Wyoming project, as well as general working capital.

Insider participation in the offering will be treated as a related party transaction under Multilateral Instrument 61-101. The company said it intends to rely on exemptions from formal valuation and minority shareholder approval requirements, as the insider portion is not expected to exceed 25% of the company's market capitalization.

Closing remains subject to regulatory approvals, including from the TSX Venture Exchange. All securities issued will carry a statutory hold period of four months plus one day from issuance.

Chairman Domenic Carosa said the placement "strengthens Blockmate's working capital position and supports the next phase of work on our Wyoming AI data centre opportunity, including engineering, site planning and related infrastructure diligence."

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