08:56 AM EDT, 03/13/2024 (MT Newswires) -- Spirit Blockchain Capital Inc. ( SBLCF ) reported overnight Tuesday a mutual investment agreement with Vesta Equity Inc., a pioneer in the tokenization of residential equity.

Under the terms, Spirit will acquire 270,727 common shares of Vesta Equity, representing a 2% stake. In turn, Spirit will issue 2,054,722 shares to Vesta Equity on a private placement basis at $0.085 per share.

With the agreement, Spirit and Vesta Equity plan to collaborate on initiatives focused on innovating the real estate investment sector, enhancing the scope of investment options, and introducing novel opportunities for asset owners and investors.

"Our collaboration with Vesta Equity is more than strategic; it's transformative. We stand on the brink of unlocking tremendous value in the real estate sector through tokenization, perfectly aligning with our pioneering vision in the digital asset arena," Spirit Blockchain CEO Lewis Bateman said.

Spirit Blockchain gained 6.7% yesterday.