TSXV: CSTR
TORONTO, Aug. 24, 2021 /CNW/ - CryptoStar Corp. (TSXV:
CSTR) ("CryptoStar" or the "Company"), a
cryptocurrency mining and data centre operator, is pleased to
announce that, further to its press releases dated March 8, 2021 and March
30, 2021, the Company and a Hong
Kong based company (the "Vendor") have closed on the
purchase and sale of GPU and ASIC miners capable of a minimum total
Hashrate of 25,950 MH/s and 5,510 TH/s respectively. The Company
has issued 5,927,151 units ("Units") of the Company to the
Vendor at a deemed value of CAD$1,422,516.24 (the "Transaction") and
an additional 355,629 Units (the "Finder's Fee") to Chen
Peifeng in connection with Transaction.
Each Unit consisted of one common share of CryptoStar (a
"Common Share") and one common share purchase warrant of
CryptoStar (a "Warrant"). Each Warrant entitles the holder
to acquire one Common Share at a price of CAD $0.36 per Common Share for a period of 18 months
from the date of issue.
The Transaction, including payment of the Finder's Fee, is
subject to TSX Venture Exchange (the "TSXV") approval.
About CryptoStar Corp.:
CryptoStar has cryptocurrency mining operations with data
centres located in the U.S.A. and
Canada. CryptoStar is currently
dedicated to becoming one of the lowest cost cryptocurrency
producers in North America and a
major supplier of GPU and ASIC miners worldwide.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this press release.
Forward-Looking Statements
This news release contains forward-looking statements.
Forward-looking statements can be identified by the use of words
such as, "expects", "is expected", "anticipates", "intends",
"believes", or variations of such words and phrases or state that
certain actions, events or results "may" or "will" be taken, occur
or be achieved. Forward-looking statements include those relating
to CryptoStar's plans of becoming one of the lowest cost
cryptocurrency producers in North
America and a major supplier of GPU and ASIC miners
worldwide. Forward-looking statements are not a guarantee of future
performance and are based upon a number of estimates and
assumptions of management in light of management's experience and
perception of trends, current conditions and expected developments,
as well as other factors that management believes to be relevant
and reasonable in the circumstances. Actual results, performance or
achievement could differ materially from that expressed in, or
implied by, any forward-looking statements in this press release,
and, accordingly, you should not place undue reliance on any such
forward-looking statements and they are not guarantees of future
results. Forward-looking statements involve significant risks,
assumptions, uncertainties and other factors that may cause actual
future results or anticipated events to differ materially from
those expressed or implied in any forward looking statements.
Except as required by law, CryptoStar undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise.
SOURCE CryptoStar Corp.