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
Innodata Reports Record Third Quarter 2026 Results5.11.2026 22:05:00 CET | Press release
NEW YORK, NY / ACCESS Newswire / November 5, 2026 / INNODATA INC. (Nasdaq:INOD) today reported results for the third quarter ended September 30, 2026.Revenue of $95.6 million, representing 53% year-over-year revenue growth.Adjusted Gross Profit of $38.3 million, representing Adjusted Gross Margin of 40%.*Adjusted EBITDA of $17.7 million, or 18.5% of revenue, an increase of $1.5 million from $16.2 million in the same period last year.*Net income of $10.3 million, or $0.30 per basic share and $0.29 per diluted share for the three-month period ended September 30, 2026, compared to net income of $8.3 million, or $0.26 per basic share and $0.24 per diluted share, in the same period last year.Cash and cash equivalents of $164.0 million as of September 30, 2026, an increase of $81.7 million from $82.2 million as of December 31, 2025. Cash as of September 30, 2026 includes customer prepayments related to pass-through costs; net of these prepayments, cash was approximately $153.7 million as of
MicroVision and LAKE FUSION Technologies Sign Multi-Year Strategic Partnership Agreement for IRIS(TM) Lidar Sensors5.11.2026 15:20:00 CET | Press release
ORLANDO, FL AND MARKDORF, GERMANY / ACCESS Newswire / November 5, 2026 / MicroVision, Inc. (NASDAQ:MVIS), a leader in advanced perception solutions for industrial, security and defense, intelligent infrastructure, and automotive mobility, today announced a multi-year strategic partnership agreement with LAKE FUSION Technologies (LFT), a German developer of advanced sensor fusion and situational awareness systems. Under the agreement, LFT has committed to purchasing MicroVision IRIS™ long-range lidar sensors throughout 2027 and into 2028 for integration into its Awareness Systems (AS-1), designed to enhance safety and obstacle detection for civil and military helicopter operations. The multi-year agreement marks another significant commercial milestone following the companies' June 2026 announcement to expedite the integration of IRIS lidar technology and accelerate the deployment of advanced situational awareness solutions. With testing and evaluation progressing into a formal strategi
Chervon Names Doug Palmer Vice President of Finance - Canada5.11.2026 15:00:00 CET | Press release
TORONTO, ON / ACCESS Newswire / November 5, 2026 / Effective November 9, 2026, Chervon names Doug Palmer Vice President of Finance - Canada, reporting to Neil Harrison, Vice President and Managing Director of Chervon Canada. He will also have a dotted-line reporting relationship to Ryan Wang, Chief Financial Officer, Chervon NA. Palmer brings to Chervon an exceptional 20-year career of increasingly responsible positions in Canadian financial management. During his 18-year career at J.M. Smucker, he held financial management positions as Analyst, Senior Manager, Director, and Senior Director, responsible for all elements of financial control and FP&A. Most recently, he served as Vice President of Finance at the Crump Group. "We have identified Canada as a strategic priority for Chervon with massive growth potential," said Joe Galli, Chervon CEO. "We are building the best leadership team in the Power Tool and OPE industry in Canada. Doug Palmer is an outstanding addition to this high-per
New EuroFinance Study, Sponsored by TIS, Puts Treasury at the Center of Cybersecurity5.11.2026 15:00:00 CET | Press release
BERLIN, DE / ACCESS Newswire / November 5, 2026 / New Deep Dive research, Cyber Risk Management: No Longer Just an IT Problem, finds that cyber risk is increasingly disrupting payments, liquidity management, and business continuity. Sponsored by TIS, a global leader in payments and cash management technology, the new report extracts insights from treasury and cybersecurity professionals across housing, commodities, manufacturing, consumer goods, and telecommunications who agree that cybersecurity is a growing treasury and liquidity risk. Why Treasury Is at the Center of Cyber Risk The ongoing digitization of the treasury ecosystem through APIs, cloud platforms, and automation has increased the speed and efficiency of treasury operations. While treasury teams are moving faster, their exposure to sophisticated cyber threats, including deepfake videos, fraudulent invoices, and manipulating approvals through compromised digital channels, has expanded in proportion. These threats most frequ
Polaris Renewable Energy Announces Q3 2026 Results5.11.2026 14:25:00 CET | Press release
TORONTO, ON / ACCESS Newswire / November 5, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris Renewable Energy" or the "Company"), is pleased to report its financial and operating results for the three and nine months ended September 30, 2026. This earnings release should be read in conjunction with the Company's consolidated financial statements and management's discussion and analysis, which are available on the Company's website at www.PolarisREI.com and have been posted on SEDAR+ at www.sedarplus.ca. The dollar figures below are denominated in US Dollars unless noted otherwise. HIGHLIGHTSThird quarter consolidated energy production totaled 175,791 MWh, a 3% decrease from 181,235 MWh in the same quarter last year. The decrease primarily reflected lower generation in the Dominican Republic and the Company's hydroelectric facilities in Peru and Ecuador, partially offset by stronger wind generation in Puerto Rico.The Company generated $19,005 in revenue from energy sales for the
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