• Raised $1 million through a placement of 10 million shares at $0.10 per share
• Funds will be used for software development and platform upgrades
• Decided not to sell Bitcoin holdings to fund development, instead raising equity capital

333D Limited (ASX:T3D) has received firm commitments from institutional and sophisticated investors to participate in a $1 million placement of 10 million new shares at $0.10 per share. The funds raised will be used towards material upgrades and developments to the company's digital asset management platform, including software development fees, license fees, and hardware and equipment costs. The company considered the option of liquidating its existing Bitcoin holding to fund the development work, but decided against it as the proceeds would only cover approximately one-third of the estimated expenditure, and the company would still need to raise additional capital. Additionally, selling the Bitcoin at this time would crystallize a loss, which would be adverse and not in the interests of shareholders. The company also noted that a sale would be inconsistent with its previously communicated strategy of holding the Bitcoin investment for the long-term. Instead, the company has decided to raise the required capital through the equity placement, which it believes is consistent with its Bitcoin treasury management policy objectives of managing risk and maintaining a long-term strategic treasury allocation.