/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION
IN CANADA ONLY AND IS NOT INTENDED
FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES/
NEW
YORK, May 24, 2022 /CNW/ - Voyager Digital
Ltd. ("Voyager" or the "Company") (TSX: VYGR) (FRA: UCD2), is
pleased to announce that it closed the first tranche of its
previously announced private placement common shares of the Company
(the "Shares") for gross proceeds of approximately
US$58 million at a price of
US$2.34 per Share (equivalent
C$3.00 per Share) (the
"Offering"). Alameda Research was the lead subscriber under
the private placement with participation by Galaxy Digital,
Blockdaemon, Digital Currency Group, and Three Arrows Capital,
among others. BTIG acted as sole agent (the "Agent") for the
brokered portion of the Offering. An additional US$2 million of the private placement (the
"second tranche") is expected to close promptly following
approval of the Toronto Stock Exchange.
The Company intends to use the net proceeds from the Offering
for general corporate purposes. The Company now (prior to the
closing of the second tranche) has available net cash and crypto of
over US $225 million, with over
US$175 million in cash.
"We are excited to announce this round of financing led by some
of the largest and most important strategic investors in the crypto
industry. The ability for Voyager to deepen relationships with such
important companies within the crypto ecosystem will help us
achieve our goals of expanding our staking and lending program as
well as our industry leading pools of liquidity, and assist as we
pursue expansion into Web3, NFTs, credit products and managed
account products," said Stephen
Ehrlich, CEO and co-founder of Voyager. "Based on our net
cash position, we are very well positioned to build our business in
any market environment and are extremely excited about our
future."
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or
any state securities laws and may not be offered or sold within
the United States or to or for the
account or benefit of a U.S. person (as defined in Regulation S
under the U.S. Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
For more information on Voyager Digital, please visit
https://www.investvoyager.com. The Voyager app is available for
Android and iPhone.
Forward Looking
Statements
This news release contains "forward-looking statements" that are
based on expectations, estimates, projections and interpretations
as at the date of this news release. Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "seek", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that
certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the timing, size and
completion of the Offering, the use of proceeds of the Offering,
the expected timing for obtaining all requisite regulatory
approvals, the ability to raise the funds to finance its ongoing
business activities and expected financial performance and customer
growth. Such forward looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such risks and other factors may include, but are not
limited to, the ability to successfully complete the Offering, the
ability to obtain all requisite regulatory approvals including the
approval of the Toronto Stock Exchange, the ability to apply the
proceeds as intended, the results of business operation; the
ability of the Company to acquire further customers; timing and
availability of external financing on acceptable terms and those
risk factors outlined in the Company's Management Discussion and
Analysis and Annual Information Form as filed on SEDAR. The Company
does not undertake to update any forward-looking information except
in accordance with applicable securities laws.
About Voyager
Digital Ltd.
Voyager Digital Ltd.'s (TSX: VOYG) (FRA: UCD2) US subsidiary,
Voyager Digital, LLC, is a fast-growing cryptocurrency platform in
the United States founded in 2018
to bring choice, transparency, and cost-efficiency to the
marketplace. Voyager offers a secure way to trade over 100
different crypto assets using its easy-to-use mobile application.
Through its subsidiary Coinify ApS, Voyager provides crypto payment
solutions for both consumers and merchants around the globe. To
learn more about the company, please
visit https://www.investvoyager.com.
The TSX has not approved or disapproved of the information
contained herein.
Press
Contacts
Voyager Digital, Ltd.
Voyager Public
Relations Team
pr@investvoyager.com
SOURCE Voyager Digital (Canada)
Ltd.