BitNile Metaverse Announces Termination Of Its At-the-Market Equity Program

LAS VEGAS--(BUSINESS WIRE)--$AP #35_million_raised--BitNile Metaverse, Inc. (Nasdaq: BNMV) (“BitNile” or the “Company”) the company operating the rapidly growing virtual world, BitNile.com (the “Platform”), today announced it has terminated its “at-the-market” (“ATM”) equity program with Ascendiant Capital Markets, LLC, as sales agent (the “Agent”). The Company elected to terminate the ATM because it had achieved its objective of raising capital under the ATM.

Through the utilization of the ATM, the Company sold approximately 1,261,000 shares of common stock on a reverse-split-adjusted basis and raised approximately $3.5 million in gross proceeds, or approximately $2.77 per share.

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 shares of the Company’s common stock in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About BitNile Metaverse, Inc.

Founded in 2011, BitNile (Nasdaq: BNMV) owns 100% of BNC, including the BitNile.com metaverse Platform. The Platform, which went live to the public on March 1, 2023, allows users to engage with a new social networking community and purchase both digital and physical products while playing 3D immersive games. In addition to BNC, BitNile also owns three non-core subsidiaries either directly or indirectly: approximately 66% of Wolf Energy Services Inc. (OTCQB: WOEN) indirectly; 100% of Zest Labs, Inc. directly; and approximately 89% of Agora Digital Holdings Inc. directly. BitNile also owns approximately 70% of White River Energy Corp (OTCQB: WTRV).

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and BitNile will not undertake any obligation to update any of these statements publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. In addition to risks relating to the acceptance of the Platform by individuals, competition with much larger companies operating metaverses and BitNile’s ability to raise capital, investors should review risk factors, that could affect BitNile’s business and financial results which are included in BitNile’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, Forms 10-K, 10-Q and 8-K. All such filings are available at www.sec.gov and on the companies’ websites at www.BitNile.net.

Contacts

BitNile Investor Contact:
investorrelations@BitNile.net or 1-800-762-7293

First published on Fri, Jun 16, 2023

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. While we aim to provide valuable and helpful information, some content on TechDogs' site may not have been thoroughly reviewed for every detail or aspect. We encourage users to verify any information independently where necessary.

Tags:

BitNile Metaverse Inc. Metaverse Platform 3D Immersive Games Social Networking Community

Join The Discussion

Emerging Technology

FeaturedEmerging Technology

Emerging Technology