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CryptoStar Corp. Signs Letter of Intent to Acquire Neuro Digital Inc. and Increases Self-Mining Hashrate
CryptoStar Corp. Signs Letter of Intent to Acquire Neuro Digital Inc. and Increases Self-...
About this update from Cryptostar Corp.
[{"type":"text","content":"\n \n \n \n CryptoStar Corp. Signs Letter of Intent to Acquire Neuro Digital Inc. and Increases Self-Mining Hashrate\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TSXV: CSTR\n \n OTCQB: CSTXF\n \n \n \n \n \n \n \n TORONTO\n \n ,\n \n Nov. 15, 2021\n \n /CNW/ - CryptoStar Corp. (TSXV: CSTR) (OTCQB: CSTXF) (\"\n \n CryptoStar\n \n \" or the \"\n \n Company\n \n \"), a cryptocurrency mining and data centre operator, is pleased to announce that it has signed a letter of intent (the \"\n \n LOI\n \n \") effective\n \n November 12, 2021\n \n to acquire 100% of the outstanding shares of Neuro Digital Inc. (\"\n \n Neuro Digital\n \n \") for cash consideration of\n \n CAD$2\n \n .4 million (the \"\n \n Transaction\n \n \"). The Company is also pleased to announce the expansion of its self-mining Hashrate.\n \n \n \n Neuro Digital Transaction\n \n \n \n Highlights of the proposed Transaction:\n \n \n \n Under the terms of the LOI, it is anticipated that CryptoStar and Neuro Digital will enter into a binding agreement (the \"\n \n Definitive Agreement\n \n \") pursuant to which CryptoStar will acquire 100% of the outstanding shares of Neuro Digital.\n \n \n Neuro Digital is a data centre operator specializing in GPU mining, Decentralized Finance (DeFi) and AI solutions with an operational data centre located in\n \n Quebec, Canada\n \n (the \"\n \n Quebec Data Centre\n \n \"). Neuro Digital's current, proof of concept location has a power capacity of 0.5 megawatt (MW) with plans for expeditious expansion in various locations that have been identified throughout the province of\n \n Quebec\n \n .\n \n \n The currently operating Quebec Data Centre is powered by competitively priced, reliable, on-the-grid, green hydroelectricity, aligning with the Company's commitment to the Crypto Climate Accord.\n \n \n Neuro Digital currently has an aggregate self-mining Hashrate of 83,162 MH/s from GPU miners running at the Quebec Data Centre.\n \n \n The additional 83,162 MH/s of Hashrate from Neuro Digital's GPU miners would add\...