Bitrush Corp. Announces Proposed Financing and Appointment of Corporate Secretary
Toronto, Ontario (FSCwire) - BitRush Corp. (“BitRush” or the “Corporation”) is pleased to announce that Corporation intends to raise up to CDN$685,000 by way of a non-brokered private placement (the “Offering”) of up to 6,850,000 units of securities at a price of CDN$0.10 per Unit. Each Unit will comprise one common share of the Corporation and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Unit Warrant”). Each Unit Warrant will entitle the holder thereof to purchase one Common Share (each, a “Warrant Share”) at an exercise price of CDN$0.20 per Warrant Share until the date that is 18 months following the date of issuance of such Unit Warrant.
The securities issued will be subject to a hold period of four months and one day. This Offering will be subject to normal regulatory approvals.
Bitrush also announces the resignation of Mr. Peter Lukesch as Corporate Secretary/Director for personal reasons. Bitrush management thanks Mr. Lukesch for his efforts on behalf of the Corporation. Mr. Warren Hawkins, Director has been appointed as the new Corporate Secretary for Bitrush.
FORWARD LOOKING INFORMATION
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the anticipated date for filing of the amended management information circular) constitute forward-looking information.
This forward-looking information reflects the current expectations or beliefs of the Corporation based on information currently available to the Corporation as well as certain assumptions including, without limitation, the assumption that the Corporation will file the amended management information circular in a timely manner. Forward -looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Corporation to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Corporation.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Corporation believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
On behalf of the Board of Directors,
Warren Hawkins
Corporate Secretary
For further information contact Werner Boehm at werner.boehm@bitrush.co or Warren Hawkins at hawkrich63@gmail.com
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Bitrush03072016_0.pdf
Source: BitRush Corp. (CSE:BRH)
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