VOYG Voyager Digital Ltd

/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/

Proceeds to be used for general corporate purposes 

NEW YORK, May 16, 2022 /CNW/ - Voyager Digital Ltd. ("Voyager" or the "Company") (TSX: VOYG) (FRA: UCD2), is pleased to announce that it has obtained subscription agreements from subscribers for a private placement of common shares of the Company (the "Shares") for gross proceeds of approximately US$60 million at a price of US$2.34 per Share (equivalent C$3.00 per Share) (the "Offering"). The Offering was led by Alameda Research with participation by, among others, Galaxy Digital, Blockdaemon, and Digital Currency Group. For the brokered portion of the Offering, BTIG acted as sole agent and bookrunner (the "Agent").  Closing of the Offering remains subject to customary closing conditions, including approval of the Toronto Stock Exchange.

The Company intends to use the net proceeds from the Offering for general corporate purposes. Assuming the completion of the Offering in full, Voyager would have available liquidity of over US$225 million, which is comprised of over US$175 million in cash and approximately US$50 million in crypto.

"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 additional capital will support Voyager as we execute on the Company's strategic plan. Deepening our relationships with core leaders in the industry will help us achieve our goals of expanding our staking, rewards and execution programs while assisting with our entry into Web3 and NFTs, all with the vision of bringing the best experience to retail consumers," said Stephen Ehrlich, CEO and co-founder of Voyager. "We are well on our way to achieving our goals by educating individual consumers about our easy-to-use platform."

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.

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.

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.