Squire & CoinGeek Agree to Further Extend Negotiations

VANCOUVER, British Columbia, Feb. 01, 2019 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”) announced today that it and Bigfoot Holdings Group Ltd. (operating as CoinGeek Mining & Hardware) (together with its affiliates, “CoinGeek”) have agreed to further extend exclusive negotiations to March 31, 2019 for Squire to acquire the mining assets owned by CoinGeek and certain of its affiliates and other blockchain related assets (the “Transaction”).

While both parties are engaged with sophisticated financial, legal advisors and tax auditors and professionals to support this Transaction in the most efficient way possible, those advising professionals are learning the intricacies of a relatively new industry, cryptocurrency mining.  As a result, there is an educational element to this process that has added additional time and complexity to the process.

The Squire team remains confident in its decision to progress with this Transaction and the acquisition of mining assets.  Acquisition of CoinGeek’s mining assets, along with ASIC chip and hardware development demonstrates Squire’s strong commitment to supporting the cryptocurrency industry for the long term by building the necessary infrastructure to support Bitcoin SV (BSV) – the cryptocurrency and blockchain with the roadmap for massive on-chain scaling and enterprise‐level adoption.  Squire believes BSV’s roadmap will provide miners with higher volumes of transaction fees needed for the mining industry (including both miners and hardware manufacturers) to remain profitable for years to come.

We will be expecting the final report on our ASIC chip design shortly and will provide further update on the revised product development roadmap.  While our reported timelines may have shifted our commitments to deliver the next generation of leading ASIC mining hardware has not.

About Squire Mining Ltd.

Squire is a Canadian based company engaged, through its subsidiaries, in the business of developing data mining infrastructure and system technology to support global blockchain applications in the mining space including application specific integrated circuit (ASIC) chips and next generation mining rigs to mine Bitcoin SV, Bitcoin Core and other associated cryptocurrencies.

About CoinGeek Mining & Hardware

CoinGeek Mining & Hardware operates a global fleet of ASIC miners for different mining groups and pools, that collectively, provide significant hash power to secure and scale the Bitcoin SV enterprise-grade blockchain. CoinGeek’s professional team has developed industry leading practices to ensure it’s the mining fleets (for itself and others) operate at maximum performance whilst optimizing its cost profile to maximize profitability.

For further information contact:

Angela Holowaychuk
Chief Executive Officer (Interim), Director
Telephone: +1-800-371-2809

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” as defined under applicable Canadian securities legislation. Forward-looking information and statements include, but are not limited to, disclosure regarding possible events, the proposed completion of the Transaction including the acquisition of the assets owned by CoinGeek that are based on assumptions about future economic conditions and courses of action.  Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.  Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV, Bitcoin Core and other cryptocurrencies and risks related to the mining thereof, integration issues, personnel and staffing requirements and technological change and obsolescence. There are no assurances that the Squire will successfully negotiate, enter into and complete a definitive purchase agreement on the terms presently contemplated or at all. Actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Squire disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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Squire Discloses CoinGeek.com Associate as Exclusive Worldwide Distributor for its Next Generation ASIC Chips and Mining Systems; Signs Provisional Agreement With Global Technology Assembly Company For Mining Systems

VANCOUVER, B.C., Squire Mining Ltd. (CSE: SQR) – August 21, 2018 – Further to the Company’s news release of August 10, 2018, Squire Mining announces an associate of Coingeek.com, the world’s largest miner of Bitcoin Cash (BCH), is the exclusive worldwide distributor (the “Distributor”) of the Company’s next generation ASIC chips and mining systems currently under development.

Upon completion of development and manufacture of the Company’s initial ASIC chip and mining rig, the Distributor will have the exclusive right to market, promote, solicit, sell and distribute the Company’s new ASIC chip and mining system to Bitcoin BCH and other alt coin miners under the CoinGeek.com brand, subject to certain minimum purchase requirements, as more particularly described in the Company’s news release of August 10, 2018. All marketing of the Company’s products will be done under the CoinGeek.com brand.

“We are very excited to be partnering with a market leader such as Coingeek.com and its associates. This partnership will allow us to quickly gain a strong foothold in a fast-moving, global marketplace.”— Simon Moore, Executive Chairman of Squire.

On August 10, 2018, the Company completed a private placement financing of $25,500,000 (the “Financing”) to fund, among other things, the development, manufacture and sale of data mining infrastructure and system technology (including ASIC chips and mining rigs) to support the mining of Bitcoin Cash and other alt coins such as coins using Segwit Technology. The Company expects to complete the manufacture and assembly of a pilot production test run of its initial ASIC chip and rig for mining Bitcoin Cash by the end of the fourth quarter of 2018, for delivery to Coingeek.com and its associates.

Squire also announces that it has formed a new joint venture company, Arasystems Technology Corp. (“Arasystems”), with Future Farm Developments Ltd. (“Future Farm”), a Hong Kong based technology company, to manage the development, manufacture and assembly of the Company’s next generation mining systems. Each new mining system developed by Arasystems will incorporate the Company’s latest ASIC chip and be sold globally under the Coingeek.com brand pursuant to the Company’s exclusive distributor agreement with the Distributor. The Company owns a 75% equity interest in Arasystems with Future Farm owning the remaining 25% equity interest.

Squire further announces that Arasystems has entered into a provisional agreement (the “Provisional Agreement”) with an arms-length major global technology assembly company to assist in the design and assembly of the Company’s initial next generation mining system at such time as a working prototype of the Company’s initial ASIC chip has been developed. The Provisional Agreement lays the groundwork for Arasystems to assemble and produce, at commercial volumes, new mining systems containing the 910404.18143/100626062.2 Company’s next generation ASIC chips. The Provisional Agreement is non-binding and subject to negotiation and execution of a formal design and assembly agreement.

For further information contact:

Simon Moore, President and Chief Executive Officer
Telephone: (604) 929 – 0900

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the future development, manufacture and sale of the Company’s next generation ASIC chips and mining systems for Bitcoin BCH. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, risks related to chip and rig design, development and manufacturing, technological change, obsolescence and the marketability of any chips or rigs developed by the Company. Actual results and future events could differ materially from those anticipated in such forward looking information. There are no assurances that the Company will successfully design and develop a commercially viable ASIC chip or mining rig as contemplated and, even if successful, there is no guarantee that the Company will be able to successfully negotiate and enter into a formal design and assembly agreement for its mining systems with its proposed global technology assembly company on the terms presently contemplated or at all. Accordingly, readers should not place undue reliance on forwardlooking information. The Company disclaims any intention or obligation to update or revise any forwardlooking information, whether as a result of new information, future events or otherwise, except as required by law.

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Squire Updates Market On Asic Chip Development

Vancouver, British Columbia; January 22, 2018 – Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”) reported today that pre‐tape‐out simulation testing of its prototype FPGA (field programmable gate array) ASIC microchip for mining Bitcoin SV, Bitcoin and other SHA‐256 associated cryptocurrencies has produced results inconsistent with design parameters.    Squire has commenced an independent audit of the results and Peter Kim President of Squire’s subsidiary AraCore Technology Corp., and his team of front‐end microchip engineers and programmers leading the design project have undertaken further testing and review of chip design.

Additionally, Squire announced the resignation of Taras Kulyk as Chief Executive Officer and Director.   The Board of Directors express their gratitude to Mr. Kulyk for his service and wish him the best in the future.  “Mr. Kulyk has contributed greatly to the establishment of an experienced operations team and provided the Company a wealth of knowledge through robust analysis and research in the crypto currency space.  Mr. Kulyk worked closely with the other Officers of the company and we are confident the team will continue to maintain the high level of operational competence and project management efficiencies we have been keenly impressed with to date.”

Filling the vacancy on the Board of Directors due to the departure of Taras Kulyk, Mrs. Angela Holowaychuk was appointed to the Board for Squire Mining.  In connection with the appointment, the Board has granted 200,000 options to Ms. Holowaychuk at an exercise price of C$0.245.

About Squire Mining Ltd.

Squire is a Canadian based company engaged, through its subsidiaries, in the business of developing and operating data mining infrastructure and system technology to support global blockchain applications in the mining space including application specific integrated circuit (ASIC) chips and next generation mining rigs to mine Bitcoin SV, Bitcoin Core and other associated SHA‐256 derived cryptocurrencies.

For further information contact:

Angela Holowaychuk
Interim Chief Operating Officer
Telephone: +1 800‐371‐2809

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes “forward‐looking information” as defined under applicable Canadian securities legislation. Forward‐ looking information and statements include, but are not limited to, disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action.   Forward‐looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking information.    Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV, Bitcoin Core and other cryptocurrencies and risks related to the mining thereof, integration issues, personnel and staffing requirements and technological change and obsolescence. There are no assurances that the Squire will successfully negotiate, enter into and complete a definitive purchase agreement on the terms presently contemplated or at all. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward‐ looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Squire disclaims any intention or obligation to update or revise such forward‐ looking information, whether as a result of new information, future events or otherwise, except as required by law.

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Squire Announces Corporate Streamlining

Vancouver, British Columbia; January 7, 2018 – Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”) announced today that it and Future Farm Developments Ltd. (“Future Farms”) have entered into a binding Letter of Intent (“LOI”) to wind up their joint venture company Arasystems Technology Corp. (“Arasystems”). All of the business functions contemplated to be performed by Arasystems will be taken on directly by Squire going forward.

Subject to Future Farms meeting certain conditions, Squire and Future Farms will enter into (a) a services agreement pursuant to which Future Farms will provide certain project management services to support Squire’s mining systems development, (b) a licensing agreement with respect to certain proprietary intellectual property of Future Farms, and (c) a non-exclusive distribution agreement where Future Farms will be granted the right to distribute mining systems developed by Squire.

The wind up of Arasystems is part of an on-going effort by Squire to streamline its business processes to maximize future value and reduce near-term operational overhead.

About Squire Mining Ltd.

Squire is a Canadian based company engaged, through its subsidiaries, in the business of developing and operating data mining infrastructure and system technology to support global blockchain applications in the mining space including application specific integrated circuit (ASIC) chips and next generation mining rigs to mine Bitcoin SV, Bitcoin Core and other associated SHA-256 derived cryptocurrencies.

For further information contact:

Taras Kulyk, JD, MBA
Chief Executive Officer, Director
Telephone: +1 (604) 260-6142

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” as defined under applicable Canadian securities legislation. Forwardlooking information and statements include, but are not limited to, disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV, Bitcoin Core and other cryptocurrencies and risks related to the mining thereof, integration issues, personnel and staffing requirements and technological change and obsolescence. There are no assurances that the Squire will successfully negotiate, enter into and complete a definitive purchase agreement on the terms presently contemplated or at all. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forwardlooking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Squire disclaims any intention or obligation to update or revise such forwardlooking information, whether as a result of new information, future events or otherwise, except as required by law.

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Squire Extends Exclusive Negotiations For Acquiring Coingeek Assets

Vancouver, British Columbia; January 2, 2018 – Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”) announced today that it and Bigfoot Holdings Group Ltd. (operating as CoinGeek Mining & Hardware) (together with its affiliates, “CoinGeek”) have agreed to extend exclusive negotiations to January 31, 2019 for Squire to acquire crypto mining assets owned by CoinGeek and certain of its affiliates representing approximately 1 million terahash/s of computing power (or approximately 960 petahash/s) and other blockchain related assets (the “Transaction”). Upon completion of the Transaction, Squire will become the largest publicly traded crypto mining company globally, as measured by terahash/s.  For additional information see Squire`s press release of November 30, 2018 which is available on www.sedar.com.

About Squire Mining Ltd.

Squire is a Canadian based company engaged, through its subsidiaries, in the business of developing data mining infrastructure and system technology to support global blockchain applications in the mining space including application specific integrated circuit (ASIC) chips and next generation mining rigs to mine Bitcoin SV, Bitcoin Core and other associated cryptocurrencies.

About CoinGeek Mining & Hardware

CoinGeek Mining & Hardware operates a global fleet of ASIC miners that provide the majority of the hash power to secure and scale the Bitcoin SV enterprise‐grade blockchain. CoinGeek’s professional team has developed industry leading practices to ensure its mining fleet operates at maximum performance whilst optimizing its cost profile to maximize profitability.

For further information contact:

Taras Kulyk, JD, MBA
Chief Executive Officer, Director
Telephone: +1 (604) 260‐6142

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes “forward‐looking information” as defined under applicable Canadian securities legislation. Forward‐ looking information and statements include, but are not limited to, disclosure regarding possible events, the proposed completion of the Transaction including the acquisition of the assets owned by CoinGeek that are based on assumptions about future economic conditions and courses of action.   Forward‐looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking information.    Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV, Bitcoin Core and other cryptocurrencies and risks related to the mining thereof, integration issues, personnel and staffing requirements and technological change and obsolescence. There are no assurances that the Squire will successfully negotiate, enter into and complete a definitive purchase agreement on the terms presently contemplated or at all. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward‐ looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Squire disclaims any intention or obligation to update or revise such forward‐ looking information, whether as a result of new information, future events or otherwise, except as required by law.

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Squire Reports Agn Results; Grants Stock Options

Vancouver, British Columbia; December 12, 2018 – Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire” or the “Company”) announces that at the Company’s annual general meeting held on December 12, 2018 Stefan  Matthews, Taras Kulyk and Marco Strub were elected as directors of the Company for the ensuing year.  Peter Wielgosz has stepped down as a director for personal reasons. The board would like to thank Peter for his hard work and dedication in helping to advance the development of the Company’s initial ASIC chip and mining rig as the Company prepares to begin fabrication of its initial chip in early 2019.

A total of 69.39% of the Company’s issued and outstanding shares were represented at the meeting and all items of business as set out in the Company’s Notice of Meeting dated October 30, 2018 as filed on SEDAR were adopted and approved by the shareholders.

The Company has also granted incentive stock options to purchase 200,000 common shares of Squire to each of Taras Kulyk and Marco Strub.  The options are exercisable for a period of two years at a price of $0.28 per share.

About Squire Mining Ltd.

Squire    is    a    Canadian    based    company    engaged,   through    its   subsidiaries, in   the    business    of   developing data mining infrastructure and system technology to support global blockchain applications in the mining space    including    application    specific    integrated    circuit    (ASIC)    chips    and    next   generation  mining  rigs  to mine Bitcoin SV, Bitcoin Core and other associated cryptocurrencies.

For further information contact:

Taras Kulyk, JD, MBA
Chief Executive Officer, Director
Telephone: +1 (604) 260‐6142

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

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Squire Establishes Advisory Board

Vancouver, British Columbia; December 12, 2018 – Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire” or the “Company”) announces that it has established an advisory board of industry experts to broaden the Company’s expertise and keep abreast of developing trends in the rapidly evolving fields of blockchain and cryptocurrencies. To this end, the Company has appointed Jimmy Nguyen and Dr. Craig S. Wright as inaugural members of the Company’s advisory board.

Jimmy Nguyen is the founding President of the bComm Association, the first‐ever organization dedicated to bCommerce (Bitcoin commerce).    The bComm Association brings together developers, merchants, exchanges, miners and other Bitcoin network participants and is dedicated to educating about why massive on‐chain scaling through Bitcoin SV is important not just for merchants and application developers, but also for the mining industry in general.    Mr. Nguyen will head the industry group as it provides global support for Bitcoin SV, as the key to long‐term financial success for all participants in the inter‐related Bitcoin ecosystem.

Dr. Wright is the Chief Scientist for nChain, known for global leadership in blockchain and bitcoin research, and possesses an intimate knowledge and understanding of Bitcoin’s technical and economic workings as well as its future potential.

Together, Jimmy and Dr. Wright are expected to provide Squire with invaluable insight and advice on current and future developments and trends in the Bitcoin SV ecosystem and the broader cryptocurrency and blockchain industries in general.

About Squire Mining Ltd.

Squire    is    a    Canadian    based    company    engaged,   through    its   subsidiaries, in   the    business    of   developing data mining infrastructure and system technology to support global blockchain applications in the mining space    including    application    specific    integrated    circuit    (ASIC)    chips    and    next   generation  mining  rigs  to mine Bitcoin SV, Bitcoin Core and other associated cryptocurrencies.

For further information contact:

Taras Kulyk, JD, MBA
Chief Executive Officer, Director
Telephone: +1 (604) 260‐6142

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes “forward‐looking information” that, while considered reasonable, is subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking information.  Accordingly, readers should not place undue reliance on forward‐looking information.

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SQUIRE ENTERS INTO NON‐BINDING LETTER OF INTENT AND EXCLUSIVE NEGOTIATIONS REGARDING ACQUISITION OF COINGEEK.COM AND 1.0 MILLION TH/S OF MINING ASSETS, FORMING THE LARGEST PUBLIC CRYPTO MINING COMPANY, AND NAME CHANGE TO “COINGEEK TECHNOLOGIES LTD.”

Vancouver, British Columbia; November 30, 2018 – Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”) is pleased to announce today it has entered into a non‐binding letter of intent (the “Agreement”) and exclusivity with Bigfoot Holdings Group Ltd. (c.o.b. as CoinGeek Mining & Hardware) (together with its affiliates, “CoinGeek”) to purchase crypto mining assets owned by CoinGeek and certain of its affiliates representing approximately 1 million terahash/s of computing power (or approximately 960 petahash/s) and other blockchain related assets (the “Assets”), for total consideration of approximately CAD$60.3 million consisting of (i) 114,793,565 common shares of Squire, having a value of CAD$34.4 million based on the closing price of Squire’s common shares on the Canadian Stock Exchange (“CSE”) on November 29, 2018 of CAD$0.30 per share, and (ii) a vendor‐take‐ back note in the amount of CAD$25.8 million, subject to adjustment at closing (the “Transaction”).

The Assets

The Assets consist of 62,440 ASIC mining rigs, representing approximately 960,000 terahash/s, or approximately 90.0 MW of power consumption, which, upon closing, would make Squire the largest publicly traded crypto mining company globally, as measured by terahash/s.  The Assets are all operated by leading hosting providers and are allocated across the United States (35,940 rigs), Canada (6,000 rigs) and Kazakhstan (20,500 rigs). The all‐in weighted average operational cost across the Assets being acquired in the Transaction is US$0.073 per kWh.

As part of the Transaction, Squire would also be taking on employees and consultants of CoinGeek involved with the management and operation of the assets and acquiring the marketing and advertising assets related to the CoinGeek name including the “CoinGeek.com” website and domain, existing prepayments made to and deposits with the respective hosting partners, as well as CoinGeek’s outstanding global distribution agreement for Squire’s ASIC chips and rigs.

Furthermore, as part of the Transaction, Squire would have a twelve‐month right of first refusal to acquire CoinGeek’s remaining crypto mining assets.

“This Transaction would provide Squire with a leading, recognized brand via the acquisition of the CoinGeek.com and CoinGeek name, but it would also make us the largest, publicly traded Bitcoin miner globally. It is expected to deliver significant shareholder value by enabling Squire to become vertically integrated with our growing chip design and manufacturing business, which we would seek to have commercial within 2019”, said Taras Kulyk, Chief Executive Officer of Squire.

“I believe the next phase of growth for this industry is upon us and that means massive scaling of the Bitcoin blockchain to accommodate the throughput needed for enterprises to make use of this technology. By vending my mining and CoinGeek branded assets into Squire, I would be doubling‐down on my commitment to Bitcoin’s success.  These assets would enable Squire Mining Ltd to compete at a global level to pave a path for enterprise usage of blockchain technology to flourish,” said, Calvin Ayre, owner of the CoinGeek brand.

The Consideration

As noted above, CoinGeek would receive approximately 114.8 million common shares of Squire as partial consideration for the Assets. CoinGeek has agreed to enter into a voluntary one‐year lock up on the common shares received. In addition, CoinGeek will receive an unsecured vendor‐take‐back (“VTB”) with a face value of CAD$25.8 million, a one‐year term and a coupon of 15.0%.  The principal amount of the VTB will be adjusted at closing of the Transaction (the “Closing”) to reflect any prepayments or prepaid deposits made in respect of the Assets between the signing of the Agreement and the Closing and by the amount (multiplied by CAD$0.45 per common share) by which the common shares to be issued would have exceeded the common share issued pursuant to the Transaction. In connection with a change of control, CoinGeek would be able to convert the VTB into common shares of Squire, with the number of common shares being equal to the principal amount and any accrued interest payments of the VTB divided by the then market price of the Squire common shares (based on a 30 day volume‐ weighted average), subject to a discount equal to the lesser of (i) 25%, and (ii) the maximum discount permitted under the policies of the CSE (or such other exchange as the Squire common shares may then be listed).

With the launch of Bitcoin SV (BSV), the Squire team is confident that this Transaction would be just the beginning as the company scales to match the anticipated enterprise‐level and large volume usage of BSV’s cryptocurrency and blockchain.  The BSV roadmap aims to enable massive on‐chain scaling, and outlines for the crypto mining sector why that is important for the entire interrelated Bitcoin ecosystem.   Much bigger blocks are needed to support higher commercial transaction volume, allowing miners to earn more transaction fees, which is critical for miners to stay profitable as Bitcoin’s block reward halves in 2020 and every several years after that.  This is why BSV’s plan will in‐turn drive growth in the mining hardware sector, reinforcing the Squire team’s optimism on future growth prospects.

Transaction

In addition to the negotiation  and execution of definitive agreements between Squire and CoinGeek, the Transaction would be subject to a number of conditions, including, among others, (i) Squire being satisfied, in its sole and absolute discretion, with the results of its due diligence review in respect of the Assets,    (ii) receipt of the conditional approval of the CSE, (iii) the Transaction not being subject to shareholder approval , (iv) receipt of required consents; and (v) execution of third party software licensing agreements in respect of the Assets. The letter of intent is non‐binding and there is no assurance that the Transaction contemplated by it will be completed as proposed or at all.

The parties will seek close the Transaction on or about January 31, 2019.    In conjunction with the Transaction, Squire intends to change its name to CoinGeek Technologies Ltd. and its fiscal year end from October 31 to December 31. The parties have agreed to an exclusivity period in the letter of intent ending on December 31, 2018, or such other date as the parties may mutually agree.

Canaccord Genuity Corp. is acting as exclusive financial advisor to Squire in respect of the Transaction.

Upon closing of the Transaction, Calvin Ayre, through the Antiguan Corporation Bigfoot Holdings Group Ltd. (“BHG”), would beneficially own or control 126,418,565 common shares of Squire representing approximately 53.3% of the issued and outstanding Squire common shares. The Squire common shares would be acquired by BHG for investment purposes only. Depending on market and other conditions, or as future circumstances may dictate, BHG may, from time to time, and subject to any contractual lock‐ up agreements (including the lock‐up to be entered into in connection with the Transaction), increase or decrease its holdings of Squire common shares or other securities of Squire in accordance with applicable securities laws.

About Squire Mining Ltd.

Squire    is    a    Canadian    based    company    engaged,   through    its   subsidiaries, in   the    business    of   developing data mining infrastructure and system technology to support global blockchain applications in the mining space    including    application    specific    integrated    circuit    (ASIC)    chips    and    next   generation  mining  rigs  to mine Bitcoin SV, Bitcoin Core and other associated cryptocurrencies.

About CoinGeek Mining & Hardware

CoinGeek Mining & Hardware operates a global fleet of ASIC miners that provide the majority of the hash power to secure and scale the Bitcoin SV enterprise‐grade blockchain. CoinGeek’s professional team has developed industry leading practices to ensure its mining fleet operates at maximum performance whilst optimizing its cost profile to maximize profitability.

For further information contact:

Taras Kulyk, JD, MBA
Chief Executive Officer, Director
Telephone: +1 (604) 260‐6142

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes “forward‐looking information” as defined under applicable Canadian securities legislation. Forward‐ looking information and statements include, but are not limited to, disclosure regarding possible events, the proposed completion of the Transaction including the acquisition of the CoinGeek Assets, together with CoinGeek’s marketing and advertising assets and exclusive distribution agreement, and the consideration and timing thereof, conditions or financial performance that are based on assumptions about future economic conditions and courses of action, the future hash rate, energy consumption performance and all‐in weighted average operational cost of the ASIC mining rigs included in the Assets and the Company’s ability to successfully integrate the Assets into its current ASIC chip and mining rig development business.  Forward‐looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking information.    Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV, Bitcoin Core and other cryptocurrencies and risks related to the mining thereof, integration issues, personnel and staffing requirements and technological change and obsolescence. See also the Company’s Form 2A Listing Statement dated July 31, 2018 (the “Listing Statement”) filed with the CSE and SEDAR for a discussion of risk factors facing the Company and its development and manufacture of ASIC chips and mining rigs. There are no assurances that the Company will successfully negotiate, enter into and complete a definitive purchase agreement for the Assets on the terms presently contemplated or at all. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward‐looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise such forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law.

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Squire Announces Appointment of New Executives and Board Members

VANCOUVER, British Columbia, Oct. 26, 2018 (GLOBE NEWSWIRE) — Squire Mining  Ltd. (CSE:SQR; FRA:9SQ; OTCQB:SQRMF) (“Squire” or the “Company”). Squire is pleased to announce the appointments of two new Directors and the subsequent appointment of three accomplished executives to its leadership team. Given the recent successful milestones achieved by the Company, specifically related to  progress with the development of Squire’s next-generation ASIC chip and mining rigs for Bitcoin Cash (BCH), Bitcoin Core (BTC) and associated  cryptocurrencies, the Board has undertaken to establish a market leading executive team to help evolve the Company from a research and development business to include an international sales and marketing group focused on launching our next generation Bitcoin mining rig to Squire’s exclusive distribution partner, CoinGeek.com.

To undertake this next phase in corporate growth, both Taras Kulyk and Marco Strub have been appointed to the Board of Directors of the Company (the “Board”).

Taras Kulyk has spent his career in venture capital, banking, and technology. Most recently, Mr. Kulyk led the CoinGeek Mining and Hardware team where he oversaw the development and growth of one of the largest crypto mining fleets globally. Before joining CoinGeek, Mr. Kulyk was part of Decentral’s leadership team in Toronto, Canada. Prior to this, Mr. Kulyk spent three years in investment banking at CIBC World Markets and BMO Capital Markets in the resources sector, followed by two years with TD Securities with the Communications, Media and Technology team, where his coverage focus was on the Canadian tech and media sectors. He is a graduate of Osgoode Hall Law School at York University where he received a Juris Doctor with a focus in Banking, Corporate, Finance, and Securities Law, and earned his MBA, with distinction, with a specialization in Finance and Strategic Management from the Schulich School of Business.

Marco Strub has over 25 years of experience as an entrepreneur and executive in the financial services and consulting sectors. Since March 2003, Mr. Strub has been the Principal and Chief Executive Officer of Sircon AG, a portfolio management company based in Zurich, Switzerland. Prior to this, Mr. Strub served as a Partner of Exulta AG from 1997 to 2003. He has been an Independent Director of numerous private and publicly listed companies, including Triumph Gold Corp and ZincX Resources Corp, listed on the TSX Venture Exchange. Mr. Strub received a Master of Arts degree from the University of St. Gallen, Switzerland in 1982.

The foregoing appointments fill vacancies on the Board as David Rokoss and Garry Stock have each resigned as directors of the Company. In connection with such appointments, the Board has granted 200,000 options to Mr. Stock at an exercise price of CAD 0.4250, exercisable for a term of one year from the date of grant. The Board wishes to thank both Mr. Rokoss and Mr. Stock for their many contributions to the Company and wishes them well for the future.

Following the above appointments, the Company is pleased to announce that the new Board has appointed Mr. Kulyk as Chief Executive Officer of Squire. Mr. Kulyk will lead the Company as it aims to become an international leader in the development, production, and sales of leading cryptocurrency mining technology. Simon Moore, Squire’s current CEO and Chairman have stepped down effective immediately to facilitate the transition. The Company sincerely appreciates the leadership and dedication Mr. Moore has provided, guiding the Company from its early conceptual stage to its current form.

Joining Mr. Kulyk at the executive level will be Yevgeniy Meshcherekov, who has been appointed Chief Financial Officer (CFO) of the Company. Mr. Meshcherekov is a Chartered Professional Accountant with more than 15 years of management experience in the industry and public practice. He has demonstrated financial and organizational leadership in the wealth management, blockchain technology and fintech sectors within operations spanning Canada, Europe and Asia. Prior to joining Squire, Mr. Meshcherekov was Director of Finance of the nChain Group, a global leading blockchain research and development company. Previous to that he was Director of Finance of nTrust Technology Solutions Corp., a regulated money transfer platform which evolved into a Bitcoin wallet and exchange. He started his career and gained extensive experience through a Canadian audit firm providing tax, reporting and accounting assurance services to private and publicly traded companies. Mr. Meshcherekov has board and committee level experience, having recently served a three year term on the board of a local not-for-profit organization. Mr. Meshcherekov replaces Rich Wheeless, the current CFO of Squire, who has resigned effective today.

Additionally, the Company is pleased to announce that Angela Holowaychuk has been appointed as its Chief Operations Officer. Over the last 15 years, Mrs. Holowaychuk has found herself at the forefront of emerging technologies, holding senior management positions leading day to day operations, technical development teams and global expansion projects within the fintech, regtech and most recently, blockchain and Bitcoin exchange sectors. Her expertise is building global operations and service channels from the ground up and working closely with legal and regulatory advisers, executives and technology specialists. Mrs. Holowaychuk attended the British Columbia Institute of  Technology for Operations and Supply Chain Management.

Richard Underhill has also resigned as an executive officer of the Company. “I am very excited to be joining the Company at this critical stage of growth,” commented incoming CEO and Director Taras Kulyk. “The team is very excited by the vast potential of our new technology.”

For further information contact:
Taras Kulyk, CEO, Director
Telephone: (647) 703-6456

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” under applicable Canadian securities legislation. Forward-looking information and statements include, but are not limited to, statements regarding the Company’s initial ASIC chip and mining rig for Bitcoin Cash (BCH), Bitcoin Core (BTC) and other associated cryptocurrencies and the timing for development and completion thereof. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, risks related to chip and rig design, development and manufacturing (including design flaws, software/programming errors, hardware/software integration issues, manufacturing delays, inability to source components on a timely basis or at all, etc.), technological change, obsolescence and the marketability of any chips or rigs developed by the Company. See also the Company’s Form 2A Listing Statement dated July 31, 2018 (the “Listing Statement”) filed with the CSE and SEDAR for a more detailed discussion of risk factors facing the Company and its development and manufacture of ASIC chips and mining rigs. There are no assurances that the Company will successfully design and develop a commercially viable ASIC chip or mining rig or that such chip and rig will provide the estimated terahash to energy consumption ratio or improvement over currently available systems as contemplated. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward-looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Listing Statement. The Company disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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SQUIRE JOINS FORCES WITH ELECTRONICS GIANT ENNOCONN, TO MANUFACTURER NEXT GENERATION MINING RIGS

October 11, 2018 – VANCOUVER, B.C., Squire Mining Ltd. (CSE:SQR; FRA:9SQ; OTCQB:SQRMF) (“Squire” or the “Company”). Squire is pleased to announce Ennoconn Corporation (“Ennoconn”) as our hardware manufacturer for next-generation mining systems to mine Bitcoin Cash, Bitcoin, and other associated cryptocurrencies. Ennoconn is a leading industrial motherboard designer and total hardware system solution provider headquartered in Taipei, Taiwan and listed on the Taiwan stock exchange (TPE:6414). In 2007, Foxconn Technology Group, the largest “Electronic Manufacturing Service” company in the world, became the majority shareholder of Ennoconn, forming a strong strategic alliance in embedded system and electronic manufacturing.

On August 21, 2018, Squire announced that AraSystems Technology Corp. (“AraSystems”), a subsidiary of Squire, had entered into a provisional non-binding agreement with a major global technology assembly company. This company, now revealed to be Ennoconn, will assist in the design and assembly of our next generation mining rig at such time as a working prototype of our debut ASIC chip is completed.

On October 3, 2018 Squire announced the successful completion and testing of its FPGA working prototype microchip, with early results of the terahash-to-energy consumption ratio, indicating that the final ASIC chip and mining system has the potential to reduce operational costs by up to 40% for enterprise mining facilities.

  • This cost reduction was estimated by one leading enterprise mining group to be worth up to $60M per year in savings to their operations alone.
  • The final ASIC chip and mining system together are expected to provide up to a four times improvement in the performance of mining the blockchain, a process that enables miners to be paid, thereby increasing the return on investment, and profit, for miners. Such calculations are based on comparisons with the majority of current generation mining machines operating inside enterprise facilities around the world.

Following this success, the Company has signed a binding Memorandum of Understanding with Ennoconn and funded work to commence Phase 1 design and development of AraSystem’s next generation mining system in collaboration with its partners in Taipei, Taiwan and in Seoul, South Korea.  Definitive documentation will be entered into following delivery of final specifications and data sheets to Ennoconn later this month.

Squire’s engineers are currently working with Ennoconn to design and develop AraSystem’s mining rig which will house the debut ASIC chip currently under development by the Company’s subsidiary AraCore Technology Corp (“AraCore”), in conjunction with GaonChips and Samsung Electronics (see news releases dated September 25 and October 3, 2018).  In turn, Ennoconn will be responsible for mass assembly of the mining rig once all design, development and testing work has been completed.

A prototype of the mining rig along with full specifications of the AraCore ASIC chip are expected to be presented at the CoinGeek Conference in London on November 28 – 30, 2018, with presales expected to commence on or around that date. Significant interest has already been expressed by several of the industry’s largest enterprise mining companies, which currently host hundreds of thousands of mining machines in their facilities across the world.

“We are very pleased to be partnering with the skilled engineers at Ennoconn, one of the world’s leading electronic manufacturing companies,” stated Simon Moore, Executive Chairman and CEO of Squire. “As we launch our next generation mining rig with a suite of proprietary innovations, it’s imperative that our manufacturing partners have the talent, experience, and capacity to not only deliver unique hardware, but also deliver best in class quality.  We believe Ennoconn will help ensure the production of an exceptional mining rig for the marketplace” he said. Further, Mr. Moore noted, “based on initial interest from the sector, the potential for significant sales and the subsequent revenue for Squire is on track in the coming year which would make Squire and its partners a noteworthy industry provider of crypto mining hardware and next-generation innovation on a global scale.”

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this news release.

 

About AraSystems Technology Corp.

AraSystems is a joint venture company established by Squire and Future Farm Developments Ltd. (“Future Farm”), a Hong Kong based technology company, to manage the development, manufacture and assembly of the Company’s next generation mining rigs. Squire owns a 75% interest in AraSystems and Future Farm owns the remaining 25% interest.

 

About AraCore Technology Corp.
Aracore is a joint venture company established by Squire and Peter Kim to design and develop next generation ASIC chips for mining Bitcoin Cash, Bitcoin and other associated cryptocurrencies. Squire owns a 75% interest in Aracore and Peter Kim owns the remaining 25% interest.

 

About Squire Mining Ltd.

Squire is a Canadian based company engaged, through its subsidiaries, in the business of developing data mining infrastructure and system technology to support global blockchain applications in the mining space including applicable specific integrated circuit (ASIC) chips and next generation mining rigs to mine Bitcoin Cash, Bitcoin and other associated cryptocurrencies.

 

For further information contact:

Simon Moore,

Executive Chairman and Chief Executive Officer

Telephone: (604) 929 – 0900

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” under applicable Canadian securities legislation. Forward-looking information and statements include, but are not limited to, statements regarding the projected terahash to energy consumption ratio of the Company’s initial ASIC chip and mining system for Bitcoin Cash, Bitcoin and other associated cryptocurrencies, the timing for development and completion thereof, the impact of such chip and system on the profitability of end user mining operations and the potential sales volume and revenue generating potential thereof.  Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, risks related to chip and rig design, development and manufacturing (including design flaws, software/programming errors, hardware/software integration issues, manufacturing delays, inability to source components on a timely basis or at all, etc), technological change, obsolescence and the marketability of any chips or rigs developed by the Company. See also the Company’s Form 2A Listing Statement dated July 31, 2018 (the “Listing Statement”) filed with the CSE and SEDAR for a more detailed discussion of risk factors facing the Company and its development and manufacture of ASIC chips and mining rigs. There are no assurances that the Company will successfully design and develop a commercially viable ASIC chip or mining rig or that such chip and rig will provide the estimated terahash to energy consumption ratio or improvement over currently available systems as contemplated.  Furthermore, there is no guarantee that the Company will successfully negotiate and enter into a formal design and assembly agreement for its mining rigs with Ennoconn on terms presently contemplated or at all. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward-looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Listing Statement. The Company disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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