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
Nigeria Is the World's Next Outsourcing Frontier, Vice President Shettima Says at Hire From Nigeria Global Launch14.10.2026 23:50:00 CEST | Press release
NEW YORK, NY / ACCESS Newswire / October 14, 2026 / Nigeria is ready to meet the world's growing demand for talent, with an initial target of one million export-linked jobs by 2030, Vice President Kashim Shettima, GCON, said at the global launch of the Hire From Nigeria campaign. The launch was held in New York on 24 September, on the sidelines of the 81st session of the United Nations General Assembly. In a keynote address delivered on his behalf by the Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, the Vice President said: "While much of the industrialized world grows older, and quietly wonders who will fill the productivity vacuum, Nigeria produces, every single year, a new generation of digitally fluent, English-speaking, ambitious young men and women, ready to serve the world from the home front and from a time zone that is convenient for almost every continent." He added: "The global market for outsourced services will be worth over a trillion dollars in
Polaris Renewable Energy Announces Q3 2026 Investor Call Details14.10.2026 23:45:00 CEST | Press release
TORONTO, ON / ACCESS Newswire / October 14, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company") is pleased to announce it will be holding its Earnings Conference Call and Webcast to report its Q3 2026 Earnings Results on Thursday, November 5th, 2026, at 10:00 am EST. To listen to the call, please dial Toll Free 1 888-506-0062 or International Toll-Free Number 973-528-0011 entry code 53518 or URL: https://www.webcaster5.com/Webcast/Page/2773/53518 A digital recording of the earnings call will be available for replay two hours after the call's completion. Replay Call Information: Toronto: 1 877-481-4010, Passcode: 53518 International (toll-free): 1 919-882-2331, Passcode: 53518 Encore Replay Expiration Date: October 29, 2027 About Polaris Renewable Energy Inc. Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America and the Caribbean. We are a high-perfo
Fermi Signs Credit Support Agreement with AMD and Announces Partnership13.10.2026 14:00:00 CEST | Press release
DALLAS, TX / ACCESS Newswire / October 13, 2026 / Fermi Inc. (Nasdaq:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced that it has signed a credit support agreement with AMD, the high performance and adaptive computing leader, supporting a lease for phase one of Fermi's Project Matador energy and AI buildout in Carson County, Texas, with 222 megawatts (MW) of gross power capacity in line with Fermi's first customer lease as announced on August 10, 2026. The agreement represents a key milestone toward securing project financing. The companies have also signed an agreement outlining a partnership and framework for future expansion of up to 650 MW of gross power capacity. Lee McIntire, Fermi Chief Executive Officer said, "We are thrilled to partner with AMD as we advance development at Project Matador. Our strategic partnership establishes a framework for phases two and three. We have the land, the permits, the water, the power equipment, and the fib
Digi Power X Announces $200 Million Debt Financing Commitment to Support Completion of Alabama AI Data Center and Provides Expansion Update13.10.2026 13:30:00 CEST | Press release
MIAMI BEACH, FL / ACCESS Newswire / October 13, 2026 / Digi Power X Inc. (Nasdaq:DGXX)(Cboe Canada:DGX) ("Digi Power X" or the "Company"), an AI data center infrastructure operator, today announced that it has received a commitment letter from a major lending institution for US$200 million in debt financing to support the development of its 40 MW AI data center in Columbiana, Alabama. The financing, syndicated by Goldman Sachs, is expected to close within 90 days, subject to definitive documentation and satisfaction of various conditions, including the lender's completion of its diligence efforts. The financing is to be structured at a project special purpose vehicle ("SPV") level, with an unsecured Company guarantee through project completion and other limited matters. Proceeds are intended to support completion of the Alabama project and related project costs, helping preserve corporate liquidity, mitigate shareholder dilution and position the Company to pursue additional customer co
Akkodis Brings Multilingual Intelligence to Mercedes-AMG PETRONAS Formula One Team races13.10.2026 06:45:00 CEST | Press release
ZURICH / ACCESS Newswire / October 13, 2026 / Akkodis, a global leader in digital engineering consulting and part of the Adecco Group, today announced the deployment of a multilingual AI solution that enables international guests in the Mercedes-AMG PETRONAS Formula One Team Viewing Gallery to access real-time translated team radio and race commentary, event information and Formula 1 (F1) communications in their preferred language. Built using Akkodis' AI-Core system, the solution processes information directly at the circuit, delivering responsive, low-latency real-time transcription and translation services. The deployment highlights a growing shift in how organizations operate, bringing intelligence closer to where information is generated and decisions are made. Debuting at the Formula 1 Italian Grand Prix in Monza, the solution demonstrates how such systems can enhance real-world experiences in demanding, fast-paced and information-rich environments. For international guests in th
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