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
Chervon Names Claudio Chiappetta Vice President of Retail Sales for Chervon Canada5.10.2026 14:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 5, 2026 / Claudio Chiappetta joins Chervon as Vice President of Retail Sales for Chervon Canada; effective Monday, October 5, 2026, reporting to VP, MD Neil Harrison. A graduate of York University in Toronto, Chiappetta majored in business and marketing. He brings over 25 years of outdoor power equipment and power tool experience to Chervon as well as extensive knowledge of the Canadian home improvement and outdoor power equipment markets. Chiappetta launched his tool and outdoor career in 2003 at Black & Decker/DeWalt where he held various sales and marketing positions including cordless product manager for DeWalt Power Tools. Claudio joined TTI Milwaukee in 2008 where he was responsible for the launch of a series of Milwaukee cordless products into the Canadian market. He went on to build and manage the Ryobi outdoor power equipment portfolio along with multiple TTI power tool brands. "I am delighted to welcome Claudio to our Canadian senior
Chervon Names Daniel L. Abbott Director of Sales - Western U.S.A.5.10.2026 14:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 5, 2026 / Daniel L. Abbott joins Chervon as Director of Sales - Western U.S.A.; effective Monday, October 5, 2026, reporting to SVP Matt DeFeo. Abbott brings over 30 years of experience in the power tool, outdoor power equipment, and home improvement industry. As a graduate of Long Beach State, Abbott went on to serve for 4 years in the United States Airforce. Abbott then moved on to become a Home Depot Store Manager in Huntington Beach, California. Abbott then joined TTI/Milwaukee where he spent 24 years building, managing and leading an elite west coast-based sales team. Abbott was promoted through increasingly responsible positions until his final role as sales leader of over 700 salespeople. "Abbott is a proven and exceptional leader and mentor of high-potential sales talent," says SVP Matt DeFeo. "His obsessive focus on teaming up with key accounts at the store level has unleashed years of extraordinary growth in his areas of responsibili
Securitas Technology Releases 2027 Global Technology Outlook Report5.10.2026 14:00:00 CEST | Press release
UNIONTOWN, OH / ACCESS Newswire / October 5, 2026 / Securitas Technology, one of the world's largest electronic security companies, today announced the release of its 2027 Global Technology Outlook Report, offering organizations practical insights into the technologies, trends, and business priorities transforming the electronic security industry. Highly anticipated by security professionals across the globe - and now in its ninth annual edition - the Global Technology Outlook Report brings together perspectives from more than 16,000 end-user clients across 19 countries, independent research with more than 575 security decision-makers, 26 of the world's leading manufacturers, innovators, and Securitas Technology subject matter experts from around the world. The result is the industry's most comprehensive view of how security programs are evolving to address growing complexity, emerging risks, and rapidly changing technology. As security increasingly supports business resilience, operat
Chervon Names Peter J. Carlson Director of Sales for Strategic Accounts5.10.2026 14:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 5, 2026 / Peter J. Carlson joins Chervon as Director of Sales for Strategic Accounts effective Monday, October 5, 2026, reporting to SVP of Industrial and Commercial Sales, Jeff Campbell. Carlson brings over 27 years of power tool and outdoor product key account management experience to Chervon. A graduate of Bemidji State University in Bemidji, Minnesota; Carlson launched his career at Makita Power Tools in 1999. He progressed through a series of positions at Makita over the subsequent 10 years. In 2009, Carlson joined TTI/Milwaukee as a Senior National Account Manager. His career flourished as he was promoted through a series of increasingly responsible positions building and managing strategic key account business for TTI/Milwaukee. "Carlson is highly regarded in his ability to not only build the business but also to mentor, train and develop his people," SVP Campbell said. "His extensive experience at building store level and E-Commerce gr
Chervon Appoints Neil Harrison to the Position of VP Sales, Marketing and MD for Chervon Canada5.10.2026 14:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 5, 2026 / Neil Harrison joins Chervon as Vice President Sales, Marketing and Managing Director for Chervon Canada; effective Monday, October 5, 2026, reporting to CEO Joe Galli. Harrison brings more than 23 years of professional and consumer power tools experience. After studying environmental research management and graduating of the University of Western Ontario in London, Ontario; Harrison began his tool career in 2003 with Black & Decker/DeWalt, advancing through various positions in sales, operations, and product management. In 2006, Harrison joined Bosch Canada as marketing manager for the SKIL brand. He then went on to a position as an account manager with Hilti Canada. In 2008, Harrison joined TTI/Milwaukee, where he launched an impressive 17-year career advancing through leadership positions in product management, channel management, and marketing management. He went on to lead regional sales teams in the industrial construction chann
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