NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO US NEWSWIRES
TORONTO, ONTARIO, May 29, 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 warning to shareholders.
It has recently come to the Company’s attention that Werner Boehm, its former CEO, has initiated a scheme (dubbed the “Initial Coin Offering” or a “Litigation Coin Project”). As part of the Initial Coin Offering, Mr. Boehm purports to offer a stake in the profits of certain litigation in exchange for currency or for shares of BitRush. In support of the Initial Coin Offering, Boehm has launched the website litigation-coin (.com).
For clarity, the Initial Coin Offering is not an initiative that is being carried out by BitRush, and the Initial Coin Offering is not connected in any way to BitRush. Further, the exchange of BitRush shares offered by Mr. Boehm may be contrary to the Cease Trade Order imposed by the Ontario Securities Commission on December 2, 2016. BitRush shareholders are warned not to participate in Boehm’s latest illegitimate scheme. Mr. Boehm continues to refuse to account for hundreds of thousands of dollars of shareholder funds raised in 2015 and 2016 that he transferred to a bank account in Austria while he was the CEO of BitRush. This and other conduct by Mr. Boehm that was harmful to the Company and its shareholders will soon be addressed by the Ontario Superior Court – Commercial List.
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 update its continuous disclosure record) 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, the ability of the Company having the financial means and necessary information (financial and otherwise) to update and complete its continuous disclosure record. 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, the inability of the Company to receive the financial information it is seeking.
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
President, Director
For further information, contact Karsten Arend at (416) 847-1831 or info@bitrush.com.
