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# A Bitcoin Treasury Firm Bought a Call Option From Its Own Controlling Shareholder
- URL: https://www.pennystocks.news/six-a-bitcoin-treasury-firm-bought-a-call-option-from-its-ow/
- Published: 2026-08-22T13:49:57.000Z
- Updated: 2026-08-22T13:49:57.000Z
- Description: The counterparty collects a non-refundable premium of nearly $2 million. Minority shareholders were not asked.
- Author: PennyStocksNews Team
- Tags: canada, ticker-six

Sixty-Six Capital agreed to pay its controlling shareholder nearly $2 million for the right to buy Bitcoin. Minority shareholders did not vote on the deal.

Sixty-Six Capital Inc. CSE: SIX 

The counterparty is K33 Holding AS, a subsidiary of K33 AB, which controls Sixty-Six. Under a 12-month agreement dated August 21, the company will pay a **non-refundable premium of US$1.93 million** for a call option giving it exposure to **up to 200 Bitcoin above a strike price of US$100,000 per coin**. The option runs until August 21, 2027, can be exercised once for between 100 and 200 Bitcoin, and settles through physical, on-chain delivery against payment of the strike price.

Canadian securities rules normally require a formal valuation and a minority shareholder vote when a controlling party sits on the other side of a deal. **Sixty-Six is claiming exemptions from both requirements**: it says it is not listed on a specified market and that the premium it is paying K33 does not exceed 25% of the company's market value. The company also did not file a material change report 21 days before signing, as the rules would ordinarily require. The release says management wanted to move quickly.

**Sixty-Six also sold its Purpose Bitcoin ETF holdings** and used part of the proceeds to repay about CAD 3 million in financing. The rest goes toward the option premium and direct on-chain Bitcoin purchases, shifting the company's exposure from ETF units to a mix of direct holdings and option exposure.

K33 Markets AS — a separate entity within the same K33 group — will handle execution, custody and treasury administration for Sixty-Six's direct Bitcoin holdings. The company says it intends to exercise the option for the full 200 Bitcoin if it finishes in the money, subject to available funding. The US$1.93 million premium is non-refundable — **and it goes to the entity that controls the company**.