BITRUSH CORP. PROVIDES CORPORATE UPDATE
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO US NEWSWIRES
TORONTO, ONTARIO, March 20, 2017 –The Special Committee of the board of directors of BitRush Corp. (CSE:BRH, Frankfurt:0XSN) (“BRH”, “BitRush” or the “Company”) is providing the following update to shareholders.
Further to previous updates regarding the Special Committee’s efforts to protect the business and operations of BitRush, an Order was made at the Commercial Court today in Toronto against Werner Boehm, the former CEO of BitRush, to:
1. deliver or cause to be delivered the corporate assets and property of BitRush and its subsidiaries that continue to be within his possession or control; and
2. cease dealing with BitRush’s assets, communicating with BitRush’s customers, or holding himself out as an officer or director of BitRush or its subsidiaries.
The Application has been rescheduled for April 21, 2017 to provide the Respondents additional time to respond to the Application Record filed by the Company.
The Company would also like to remind shareholders of its new official website www.BitRush.com.
In the meantime, the Company’s securities remain subject to the cease-trade order imposed by the Ontario Securities Commission on December 2, 2016. (See news release dated December 2, 2016).
FORWARD LOOKING INFORMATION
This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities in any jurisdiction.
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the intention of the Company to proceed with the Application to the Commercial Court as scheduled and the order sought therefrom) constitute forward-looking information.
This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions including, without limitation, the ability of the Company to obtain the order on the terms it is seeking on April 21, 2017. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company 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 Company. Factors that could cause actual results or events to differ materially from current expectations, include, but are not limited to, unforeseen delays in proceeding with the Application as scheduled and the failure of the Company to obtain the order it is seeking, or if obtained, on terms that differ from expectations.
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 Company 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 Company 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 Special Committee, Karsten Arend
For further information visit www.BitRush.com, contact Karsten Arend at (416) 847-1831 or email us at email@example.com.