TSXV: CSTR
OTCQB: CSTXF
TORONTO, Dec. 15, 2021 /CNW/ - CryptoStar Corp. (TSXV:
CSTR) (OTCQB: CSTXF) ("CryptoStar" or the "Company"),
a cryptocurrency mining and data centre operator, is pleased to
announce that it has closed the previously announced acquisition of
Neuro Digital Inc. ("Neuro Digital"), pursuant to a share
purchase agreement with the shareholders of Neuro Digital dated
December 15, 2021, for cash
consideration of CAD$2.4 million,
subject to customary purchase price adjustments (the
"Transaction").
Neuro Digital is a data centre operator specializing in GPU
mining, Decentralized Finance (DeFi) and AI solutions with an
operational data centre located in Quebec, Canada. Neuro Digital's current, proof
of concept location has a power capacity of 0.5 megawatt with plans
for expeditious expansion in various locations that have been
identified throughout the province of Quebec. Neuro Digital currently has an
aggregate self-mining Hashrate of 83,162 MH/s from GPU miners
running in Quebec, Canada.
Philippe Bergeron will remain as
Chief Executive Officer of Neuro Digital, and Frederick Angers will remain as Chief Technology
Officer of Neuro Digital, and will be responsible for the expansion
of CryptoStar's operations in Quebec,
Canada.
David Jellins, President and
Chief Executive Officer of CryptoStar states, "We are delighted to
welcome Neuro Digital to the CryptoStar family, and more
specifically, we are excited to incorporate the extremely talented
team at Neuro Digital with a proven expertise in Ethereum (ETH)
mining, AI solutions and DeFi. This acquisition ensures our
expansion of green operations in Quebec,
Canada and is another step toward transitioning our
operations to renewable sources."
About CryptoStar:
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 the expansion of Neuro Digital and CryptoStar's operations, the
expansion of CryptoStar's green operations and transitioning
CryptoStar's operations to renewable sources. 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.