TAAL announces closing of $40.0 million public offering

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Vancouver, British Columbia; March 18, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1) (“TAAL” or the “Company”) a vertically integrated, blockchain infrastructure and service provider for enterprise, is pleased to announce that it has closed its previously announced public offering (the “Offering”) of units of the Company (the “Units”). Pursuant to the Offering, the Company issued 8,695,652 Units at a price of $4.60 per Unit for aggregate gross proceeds of approximately $40.0 million. Calvin Ayre, an existing securityholder, acted as lead investor to the oversubscribed Offering, purchasing approximately $13.5 million of Units.

The Offering was led by Canaccord Genuity Corp. as lead agent and sole bookrunner, on behalf of a syndicate of agents including Cantor Fitzgerald Canada Corporation, Paradigm Capital Inc. and Leede Jones Gable Inc.

The final short form prospectus, which contains important information relating to the Offering, is available under the Company’s SEDAR profile at www.sedar.com.

The securities offered 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 applicable U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons” (as such term is defined under Regulation S under the U.S. Securities Act) absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT TAAL DISTRIBUTED INFORMATION TECHNOLOGIES INC.

 TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the Bitcoin Satoshi Vision (“Bitcoin SV”) platform, and developing, operating, and managing distributed computing systems for enterprise users.

Visit TAAL online at www.taal.com

The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.

SOURCE Taal Distributed Information Technologies Inc.