The Canadian technology company Matador plans to raise 3 million Canadian dollars, with part of the net proceeds to be used to increase its Bitcoin holdings.

BlockBeats News, May 12, Canadian technology company Matador Technologies Inc. recently announced that it will conduct a non-brokered private placement, with a maximum issuance of 5,454,546 units at a price of 0.55 Canadian dollars per share. Matador expects to raise up to a total of 3 million Canadian dollars. It is anticipated that approximately one-third of the net proceeds from this offering will be used for the following purposes: purchasing Bitcoin; advancing the company's gold acquisition and Grammy business plans; general corporate purposes.

BlockBeats previously reported that on January 13, Matador announced that it had completed a transaction to acquire approximately 29 bitcoins for a total cash amount of 4.5 million Canadian dollars, at an average price of 96,341 US dollars per bitcoin.