Cypherpunk Holdings Inc. Announces Closing of Non-Brokered Private Placement

TORONTO, ONTARIO, Canada, August 28, 2020 – Cypherpunk Holdings Inc. (“Cypherpunk” or
the “Company”)
(CSE: HODL) is pleased to announce that it has completed a non-brokered private
placement offering (the “Offering”) through the issuance of 10,100,000 units (“Units”) at a price of
C$0.05 per Unit for gross proceeds of C$505,000. Each Unit is comprised of one common share (each
a, “Common Share”) in the capital of the Company and one half of one whole Common Share purchase
warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional
Common Share at an exercise price of C$0.10 until August 27, 2022. All securities issued in connection
with the Offering will be subject to a hold period of four months plus a day from the date of issuance
and the resale rules of applicable security legislation. This Offering is subject to final approval of the
Canadian Securities Exchange.

The Offering is considered a related party transaction within the meaning of Multilateral Instrument 61-
101 (“MI 61-101”) as certain directors and officers of the Company subscribed for 6,700,000 Units
pursuant to the Offering. Such related party transaction is exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as neither the fair market value of securities being
issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the
Company’s market capitalization. The participants in the Offering and the extent of such participation
were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible
to publicly disclose details of the nature and extent of related party participation in the Offering pursuant
to a material change report filed at least 21 days prior to the completion of the Offering.

In connection with the Offering, certain finders’ of the Company received a cash commission in the
amount of $1,225.

The net proceeds of the Offering will be used to invest in additional opportunities in the cryptocurrency,
blockchain and privacy sector. The additional capital will enable the Issuer to execute on its unique
position as a vehicle set-up to invest in companies, technologies and protocols, which enhance or protect
privacy. Its strategy is to make targeted investments in business and assets with strong privacy, often
within the blockchain ecosystem, including select cryptocurrencies.

Cautionary Note Regarding Forward-Looking Information

Cypherpunk Holdings Cautionary Note Regarding Forward-Looking Information at the following link.

Cautionary Note Regarding Forward-Looking Information

For further information contact:

Investor Relations Contacts:
Lana Thompson
Operations Coordinator, Cypherpunk Holdings Inc.,
Office: 416.599.8547

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