BitRush Corp.
30.7.2021 23:23:26 CEST | ACCESS Newswire | Press release
TORONTO, ON / ACCESSWIRE / July 30, 2021 / BitRush Corp. (CSE:BRH)(Frankfurt:0XSN) ("BitRush" or the "Company") is pleased to announce that it has completed certain shares-for-debt issuances from treasury to creditors in full satisfaction of debts owed to such creditors (the "Shares-for-Debt Issuances") for accrued and invoiced but unpaid fees for bona fide services provided to the Company by the creditors, loans made to the Company by the creditors and/or reimbursement of certain expenses paid for by the creditors on behalf of the Company, as the case may be as it relates to the particular creditor. In the Shares-for-Debt Issuances, approximately $351,968 of debt was exchanged for 7,039,373 Common Shares, representing an exchange price of $0.05 per share. Such Shares-for-Debt Issuances were completed pursuant to the terms of Debt Settlement Agreements entered into between the Issuer and each creditor dated as of the date hereof.
Certain related parties of the Company acquired 6,334,678 Common Shares in the Share-for-Debt Issuances, each of which constitutes a "related party transaction" for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions contained in sections 5.5(a) and 5.7(a) of MI 61-101 from the formal valuation and minority shareholder approval requirements in MI 61-101, respectively, in respect of such related parties' participation in the Share-for-Debt Issuances, as at the date hereof, being the date the Shares-for-Debt Issuances were agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Shares-for-Debt Issuances insofar as it involves the related parties, exceeds 25% of the market capitalization of the Company (calculated in accordance with MI 61-101).
The common shares received by each creditor in the Shares-for-Debt Issuances is subject to a hold period expiring on December 1, 2021.
The common shares in the capital of the Company are currently listed on the Canadian Securities Exchange ("CSE"); however such shares remain suspended from trading in accordance with the rules of the CSE, and such suspension will continue until such time as the Company effectively meets certain listing requirements of the CSE for trading in the common shares to resume. There is no guarantee that the Company will be able to meet such requirements in a timely manner, if at all, or that trading in the common shares will resume.
Karsten Arend
CEO, President and Director
For further information, contact Karsten Arend at (647) 660-8703 or info@bitrush.com.
SOURCE: BitRush Corp.
View source version on accesswire.com:
https://www.accesswire.com/657800/BitRush-Corp-Completes-Debt-Settlements
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
Fermi Provides Update on Lease Agreement as Parties Work Toward Closing3.11.2026 13:00:00 CET | Press release
DALLAS, TX / ACCESS Newswire / November 3, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today issued the following statement on the Data Center Lease and Services Agreement (the "Lease") between its wholly owned subsidiary, Fermi Campus 1 LLC, and TensorWave TEX1, LLC ("TensorWave"), after the October 31, 2026 closing date passed without extension. "Both Fermi and TensorWave remain committed to this lease, and we are continuing to work through the remaining conditions prior to close," said Lee McIntire, Fermi Chief Executive Officer. "We expect to provide more information on the discussions during our earnings call next week, or sooner if appropriate." The Lease, signed in August 2026, provides that its effectiveness is subject to the satisfaction or waiver of specified closing conditions. Those conditions include executing and delivering related work letters and guaranties; finalizing operations schedules and a service-level agreem
IXOPAY Announces IXO One, a Modular Payments Platform Built for an Era of Fluid Commerce3.11.2026 10:00:00 CET | Press release
DALLAS, TX / ACCESS Newswire / November 3, 2026 / IXOPAY, the leader in payment infrastructure enabling fluid commerce, today announced the launch of IXO One, an AI-native, modular payment platform that unifies orchestration, payments intelligence, and tokenization. It gives merchants the flexibility to buy what they need, build what they want, and adapt as commerce evolves. Built to power an era of fluid commerce and technology-driven payment experiences, IXO One provides the dynamic infrastructure needed to adapt quickly without ripping out or replacing their current payment stack. Traditional payment infrastructure makes it difficult for merchants to embrace fluid commerce and a rapidly changing payment market. From fragmented systems to rigid provider relationships, a new opportunity can require a heavy integration lift, slow time-to-market, and increased costs. IXO One's modular platform helps merchants mitigate the payment friction that leads to provider dependency, expensive mig
Chervon Promotes Soobia Haroon to Vice President, Human Resources - NA2.11.2026 15:00:00 CET | Press release
NAPERVILLE, IL / ACCESS Newswire / November 2, 2026 / Chervon promotes Soobia Haroon to Vice President, Human Resources - NA, effective November 2, 2026, reporting to Joe Galli, CEO. Over the past two years, Haroon has been a key member of the Chervon Senior Executive Team, driving talent acquisition, organizational development, and transformation. She has provided strategic leadership across all HR functions while strengthening corporate HR strategy, governance, and processes to support the company's objectives and continued growth. Before joining Chervon, Soobia progressed through a series of human resources positions at several multinational companies. Her HR experience is strong in supporting many functional areas, including supply chain, distribution, manufacturing, IT, engineering, product management, marketing, and finance. "Soobia has been instrumental in our aggressive talent acquisition initiative since I joined Chervon," said Joe Galli. "Her extensive HR experience, her sens
Chervon Names Thomas Scherer Vice President of Organizational Development - Sales, End User Marketing, and Service2.11.2026 15:00:00 CET | Press release
NAPERVILLE, IL / ACCESS Newswire / November 2, 2026 / Chervon names Thomas Scherer Vice President of Organizational Development - Sales, End User Marketing, and Service, effective November 2, 2026, reporting to Matt DeFeo, SVP, Sales, Training, and Recruiting. Scherer brings to Chervon extensive organizational development experience supporting the build-out of large-scale sales teams and end user marketing teams. He is highly experienced in managing employment law, compliance, employee relations, compensation, workforce analytics, training, recruiting, and career development. His world class organizational development skills will be invaluable as the company develops the very best sales, store coverage, end user marketing, and after-sales service teams. Most recently, Tom was Vice President of Human Resources for TTI/Milwaukee where he was responsible for HR and organizational development for a 2000+ person field sales team. Previously, Scherer advanced through a series of HR, training
Chervon Names Jody Grimsley Senior National Account Manager2.11.2026 15:00:00 CET | Press release
NAPERVILLE, IL / ACCESS Newswire / November 2, 2026 / Jody Grimsley joins Chervon as Senior National Account Manager, effective November 2, 2026, reporting to Jeff Campbell, SVP of Industrial Commercial Sales. In his new role, Grimsley will focus on developing key strategic relationships with commercial landscape dealers, driving growth of the EGO Commercial OPE range. Jody brings 17+ years of commercial sales experience at TTI/Milwaukee. His outstanding sales growth performance included building significant businesses in the Transportation Channel and Hardware Channel. Earlier in his career, he excelled through sales roles of increasing complexity and as a Regional Sales Manager in the Industrial Channel. "Jody brings a strong track record of developing strategic relationships, driving outstanding sales growth and building successful sales organizations," said Jeff Campbell. "His extensive key account experience and his customer-centric approach will be invaluable as we build our busi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom