Sixty-Six Capital Expands Effective Bitcoin Exposure with Option for up to 200 BTC and Move to Direct Holdings
Rhea-AI Summary
Sixty Six Capital (CSE: SIX, OTC: HYHDF) has entered a 12‑month call option agreement with K33 Holding AS, giving upside exposure to up to 200 BTC above a strike price of US$100,000 per BTC. The company sold its Purpose Bitcoin ETF units, repaid CAD 2,963,974.4 of financing and plans to use remaining proceeds to fund the option premium and acquire BTC directly. According to Sixty Six Capital, this shifts BTC exposure from ETF units to direct on‑chain holdings plus option exposure, without changing its overall strategy. The option, carrying a non‑refundable US$1,932,000 premium, can be exercised once for 100–200 BTC until August 21, 2027 via physical on‑chain settlement.
Positive
- Option exposure to up to 200 BTC above US$100,000 strike
- CAD 2,963,974.4 of financing fully repaid from ETF sale proceeds
- BTC exposure shifted from ETF units to direct on‑chain holdings
- Non‑dilutive structure; transaction financed via asset sale and cash use
Negative
- Non‑refundable option premium of US$1,932,000 represents upfront cost
- Option only has value above a high strike of US$100,000 per BTC
- Transaction classified as related party deal under MI 61‑101
- No material change report filed 21 days before Agreement, limiting lead time for minority holders
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2026) - Sixty-Six Capital Inc. (CSE: SIX) ("Sixty-Six" or the "Company") has entered into a 12-month call option agreement (the "Agreement") dated August 21, 2026, with K33 Holding AS, a subsidiary of K33 AB (publ) ("K33"), giving the Company gross upside exposure to up to 200 Bitcoin ("BTC") above a strike price of US
Sixty-Six has also sold its Purpose Bitcoin ETF holdings, repaid CAD 2,963,974.4 of financing, and will use the remaining net proceeds to pay for the option and acquire BTC directly. The move will transition the Company's existing BTC exposure from ETF units to direct, on-chain holdings and option exposure. It changes how Sixty-Six holds its BTC exposure; the Company's existing strategy remains unchanged.
"This transaction materially increases Sixty Six's BTC upside and prepares us to move our existing exposure on-chain," said Torbjørn Bull Jenssen, CEO of Sixty-Six Capital. "The option adds exposure to up to 200 BTC, while direct holdings will give us greater control over the treasury. It is a clear early example of the synergies created by K33's investment in Sixty-Six earlier this year."
The option may be exercised once for between 100 and 200 BTC until 21 August 2027 and will settle through physical, on-chain delivery against payment of the strike price. Sixty-Six will pay a non-refundable premium of 1,932,000 USD. The Company currently intends to exercise the option for the full 200 BTC if it is in the money, subject to available funding and the terms of the agreement.
Sixty-Six expects to continue using K33 Markets AS for execution, custody and treasury administration relating to its direct BTC holdings. Sixty-Six initiated that client relationship and completed onboarding before K33 acquired its ownership interest.
The transactions contemplated by the Agreement constitute a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as K33 is a control person of the Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the compensation payable to K33 pursuant to the Agreement does not exceed
About Sixty Six Capital
Sixty Six Capital is a BTC treasury and Crypto asset investment company.
For more information, please visit: https://sixtysixcapital.com
For more information, please contact:
Torbjørn Bull Jenssen
Chief Executive Officer
Tel: +47 930 40 684
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects" or "does not expect", "is expect", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", or variations of such words and phrases) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: business integration risks; the Company's operating results will experience significant fluctuations due to the highly volatile nature of BTC; the Company operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of the Company; evolving cryptocurrency regulatory requirements and the impact on the Company's business plan; BTC value risk; reliance on key personnel; implementation of the Company's business plan; lack of operating history; competitive conditions; debanking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Company's business; risk of litigation; pandemics or other health crisis; acquisitions and integration; BTC price volatility; custodial risks; technological vulnerabilities; BTC transactions are irreversible and may result in significant losses; short history risk; limited history of the BTC market; potential decrease in the global demand for BTC; economic and political factors; top BTC holders control a significant percentage of the outstanding BTC; availability of exchange traded products liquidity; security breaches; the requirements that accompany being a publicly traded company may put a strain on the Company's resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; liquidity risk; leverage risk; and share price fluctuations; and this news release refers to "effective BTC exposure" which is an analytical measure comprising expected direct BTC holdings plus the maximum BTC notional value of the option. It does not represent BTC currently owned under the option under the Agreement and does not deduct the option premium, financing costs or other transaction costs.
Although management of the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management's estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law
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