Spirit Blockchain Capital Inc. Provides Corporate Update on Business Strategy and Clarifies Operating Model

Vancouver, British Columbia, Nov. 17, 2025 (GLOBE NEWSWIRE) — Spirit Blockchain Capital Inc. (CSE: SPIR) (“Spirit” or the “Company”) is providing this corporate update to describe the Company’s current operating business and its execution of the business model and disclosures set out in the Company’s non-offering long form prospectus dated August 8, 2022 (the “Prospectus”). The Prospectus was filed to qualify Spirit as a reporting issuer in British Columbia and Ontario and in connection with the Company’s listing on the Canadian Securities Exchange (“CSE”).

Current Business of the Company

Spirit is a Canadian public company that develops, operates, and commercializes blockchain-based financial and technology infrastructure. The Company’s activities focus on enabling regulated digital-asset participation, tokenization, and payments for institutions and other compliant market participants. Spirit’s operating pillars are:

• Licensing and Technology – Digital Asset / Tokenization Platform (SpiritLinQ)

Spirit is working on advancing the development and licensing of SpiritLinQ, a platform for the creation, issuance, lifecycle administration, and reporting of tokenized assets. Targeted capabilities include issuer/investor onboarding (KYC/KYB), primary issuance and settlement, corporate actions and distributions, role-based permissions with audit trails, connectivity to qualified custodians/market infrastructure, and investor/issuer reporting.

• Support of European Digital-Asset ETPs

Spirit provides strategic and infrastructure support to a European partner in Switzerland for digital-asset exchange-traded products (ETPs) that are listed in Europe (e.g., SIX Swiss Exchange and Deutsche Börse). Current products supported include Ethereum Yield+ and Solana Yield+. These are European-listed products; Spirit does not distribute these products in Canada, and they are not offered by Spirit to Canadian or U.S. investors. Spirit’s role relates to underlying digital-asset and infrastructure support consistent with its broader blockchain-infrastructure strategy.

• Strategic Operating Subsidiaries

Spirit holds and operates Canadian and international subsidiaries and business lines that complement and extend the Company’s infrastructure strategy (software/infrastructure operations, validator/transaction services, and treasury operations aligned to the platform). These are operating components of Spirit’s commercial strategy and are not held for passive investment purposes. Spirit is not operating as an “investment company” or an “investment fund” under Canadian securities laws.

• Payments and Transaction Enablement

Spirit is building infrastructure for secure, compliant blockchain-related payments and settlement, including fiat on/off-ramps, stablecoin rails, and cross-border workflows with integrated AML screening and monitoring.

Spirit’s revenue model (current and intended) spans platform licensing and administration fees (SpiritLinQ), processing/spread/FX fees (payments enablement), infrastructure/service retainers (European ETP support), and enterprise software/infrastructure and validator services. The model is providing nominal revenue but is not yet profitable.

Spirit’s principal business is the operation and commercialization of technology and financial-infrastructure solutions in the blockchain and digital-asset sector. The Company is actively involved in the business as described above. While Spirit may from time to time hold interests in subsidiaries or structured products which are incidental to its infrastructure strategy, such holdings are strategic and operational, intended to support revenue-generating platforms and services, and do not constitute the operation of a fund manager, portfolio manager, or pooled investment vehicle.

The Company’s infrastructure-first operating model today builds on and extends the business lines described in Spirit’s August 8, 2022 Prospectus. The Prospectus described Spirit’s then-current operating pillars as: Streaming & Royalties, Treasury Management & Proof-of-Staking, Advisory & Research Services, and Licensing & Franchising IT Solutions.  The Prospectus also outlined Spirit’s treasury and staking activities, including holdings primarily in Bitcoin and Ethereum and the use of third-party staking to generate crypto-denominated income, along with exploration of streaming/royalty arrangements to support miners/validators. These treasury and staking activities are incidental to the primary technology business. Consistent with that disclosure, Spirit’s evolution into platform licensing (SpiritLinQ), compliant payments enablement, validator/infrastructure services, and European ETP infrastructure support represents a natural progression of the Company’s infrastructure strategy from 2022 towards recurring technology and infrastructure revenues while remaining within the technology and blockchain-infrastructure mandate disclosed in the Prospectus.

About Spirit Blockchain Capital Inc.

Spirit Blockchain Capital Inc. (CSE: SPIR) is a Canadian public company focused on the development and operation of blockchain-based financial infrastructure, including tokenization platforms, payments enablement, and infrastructure support for regulated digital-asset products in Europe. Spirit’s objective is to generate recurring revenue from technology licensing, infrastructure support, and related digital-asset services. Spirit is not an investment company or investment fund. For more information, please visit: www.spiritblockchain.com.

On behalf of the Board of Directors

SPIRIT BLOCKCHAIN CAPITAL INC.

For media inquiries, please contact:

Lewis Bateman
Chief Executive Officer
info@spiritblockchain.com
(604) 757-0331

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements, including statements related to Spirit’s business strategy, anticipated features and commercialization of SpiritLinQ, payments enablement, infrastructure services, potential revenue models, and future regulatory or disclosure initiatives. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described under the heading “Risk Factors” in the Company’s long form prospectus dated August 8, 2022, that is available on the Company’s profile on SEDAR+ at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents managements’ best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this news release.

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