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

TORONTO, ONTARIO, Canada, January 15, 2021 – Cypherpunk Holdings Inc.
(“Cypherpunk” or the “Company”)
(CSE: HODL) a sector leader for privacy-technology
investments is pleased to announce that, further to its press release of December 23, 2020 it
has closed an oversubscribed, non-brokered private placement offering (the “Offering”)
through the issuance of 19,867,470 Units (“Units”) at a price of C$0.15 per Unit for gross
proceeds of C$2,980,120. 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$0.25 until January 15, 2023.

The net proceeds and additional capital from the Offering will be used to continue investing
as per the Company’s outlined investment strategy in cryptocurrencies, companies,
technologies and protocols that enhance or protect privacy often in the blockchain ecosystem.

In connection with the Offering, certain eligible finders received cash commissions in the
aggregate amount of $17,550. 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 constituted a “related party transaction” as defined in Multilateral Instrument 61-
101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”), as insiders
of the Company acquired 2,561,667 Units. The Company is relying on the exemptions from
the valuation and minority shareholder approval requirements of MI 61-101 contained in
sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the
Offering by insiders does not exceed 25% of the market capitalization of the Company, as
determined in accordance with MI 61-101. The Company did not file a material change report
in respect of the related party transaction at least 21 days before the closing of the Offering,
which the Company deems reasonable in the circumstances so as to be able to avail itself of
the proceeds of the Offering in an expeditious manner.

About Cypherpunk Holdings Inc.


Cypherpunk is a company set-up to invest in companies, technologies and protocols, which
enhance or protect privacy. Its strategy is to make targeted investments in businesses and
assets with strong privacy, often within the blockchain ecosystem, including select
cryptocurrencies. Current equity investments include Samourai Wallet, Wasabi Wallet, Chia,
NGRAVE, and Hydro 66.

Cautionary Note Regarding Forward-Looking Information

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

Cautionary Note Regarding Forward-Looking Information

Investor Relations Contacts:
Veronika Oswald
Cypherpunk Holdings Inc., veronika@cypherpunkholdings.com
Office: 416.599.8547

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