Squire Releases Positive Results from First Phase Testing of New FPGA Prototype Asic Microchip

VANCOUVER, B.C., Squire Mining Ltd. (“Squire” or the “Company”) (CSE: SQR, FRA:9SQ, OTC:SQRMF): October 3, 2018The Company is pleased to report on its prototype ASIC chip testing event held in Seoul, South Korea. With executives and board members from Squire, Future Farm, CoinGeek, Gaonchips and Samsung Electronics in attendance, Peter Kim, President of Squire’s subsidiary AraCore Technology Corp. (“Aracore”), and his team of front-end microchip engineers and programmers, unveiled and tested a working prototype mining system comprised of a newly engineered FPGA (field programmable gate array) ASIC microchip that will be converted into AraCore’s first ASIC chip utilizing 10 nanometer technology for mining Bitcoin Cash, Bitcoin and other associated cryptocurrencies. The test results confirm Aracore’s original design specifications indicating that the ASIC chip, once mass manufactured by Samsung Electronics, will be capable of delivering a projected hash rate of 18 to 22 terahash per second (TH/s) with an energy consumption of between 700 and 800 watts.

 

Taras Kulyk, Chief Executive Officer of CoinGeek Mining and Hardware, said

“The CoinGeek team is very pleased with the progress of our strategic partners; Squire Mining and Aracore. With this next generation technology, CoinGeek will continue to pull the blockchain industry out of the proverbial basement and into the boardroom.”

 

Stefan Matthews, Chairman of nChain, one of the industry leaders in blockchain research and development, and a director of Squire Mining added,

The early results indicate that this ASIC microchip has the potential to be the next generation leader in providing hash power for enterprise mining of Bitcoin Cash and other associated crypto currencies. It has also demonstrated the potential to rapidly process consensus protocols across the blockchain faster whilst utilizing less energy than anything currently in this sector.”

 

Hash rate speed and microchip efficiency are the two most important measuring criteria in the crypto-mining industry to enable end-users to maximize profitability and ROI in their day to day mining operations.  

 

Simon Moore, Executive Chairman and CEO of Squire Mining, stated,

“Aracore’s time and investment to date have been validated by the impressive results of this new microchip. Once completed, we believe the speed and efficiency of our ASIC microchip combined with our respective mining systems powered by this Samsung manufactured microchip together have the potential to substantially increase the profitability of enterprise mining facilities around the globe.  We look forward to releasing our mining system to the market in the first half of next year through our exclusive distribution partners CoinGeek, and competing for a significant piece of this multi-billion-dollar enterprise mining market.”

 

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.

 

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

 

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 certain “forward-looking information” and “forward-looking statements” under applicable securities legislation.  Forward-looking information and statements include, but are not limited to, statements regarding the projected hash rate and energy consumption of the Company’s initial next generation ASIC chip and mining system for Bitcoin Cash, Bitcoin and other associated cryptocurrencies, the timing for development and completion thereof and the potential impact of such chip and system on the profitability of end user mining operations. Forward-looking information and statements are 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 and statements. 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 and programming mistakes and errors, 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 as contemplated or at all.  Actual results and future events could differ materially from those anticipated in such forward looking information and statements. Accordingly, readers should not place undue reliance on forward-looking information and statements. All forward looking information and statements in this news release are 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 any forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by law.

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Squire Announces Samsung Electronics as Foundry Partner to Manufacture ASIC Chips

September 25, 2018 – VANCOUVER, B.C., Squire Mining Ltd. (CSE: SQR; OTCQB: SQRMF) –Squire is very pleased to announce Gaonchips as our design house and Samsung Electronics as our chosen foundry partner to manufacture our ASIC chips in Korea.

 

On August 1, 2018, we announced that Squire had engaged an undisclosed arm’s length design fabrication firm to perform the back-end design, testing and initial mass production run of our next generation ASIC chip for mining Bitcoin.  We are delighted that we are now able to disclose Gaonchips as our design house and Samsung Electronics as our foundry partner.

 

Our front-end development team of engineers and programmers is currently working with Gaonchips to develop the Company’s initial ASIC chip to mine Bitcoin and other associated cryptocurrencies using a wafer process technology that, once confirmed and accepted as meeting certain prescribed specifications and criteria, will form the basis of an initial mass production test run of the ASIC chip by Samsung Electronics.

 

In addition, once a working FPGA prototype of our initial ASIC chip is developed, we will be able to aggressively accelerate the design and development of our initial mining rig for Bitcoin and associated cryptocurrencies.

 

We anticipate completing a FPGA prototype of our initial ASIC chip by September 30, 2018.

 

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

 

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 “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the future development, manufacture, distribution and sale of the Company’s next generation ASIC chips and mining systems for Bitcoin and the timing 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, 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 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 to Commence Trading On OTCQB Marketplace; Provides Corporate Update

VANCOUVER, B.C., Squire Mining Ltd. (CSE: SQR; OTCQB: SQRMF) – September 19, 2018 – Squire Mining Ltd. is pleased to announce that effective at the opening of the market on Wednesday, September 19, 2018, the Company’s common shares will begin trading on the OTCQB Venture Marketplace under the symbol “SQRMF”.

Rich Wheeless, Chief Financial Officer of Squire, stated today “Listing on the OTCQB is a significant milestone for Squire. While we will continue to trade on the Canadian Securities Exchange, our OTCQB listing will provide better access to institutional investors and a broader shareholder base while providing our current and future shareholders, particularly those residing in the United States, with easier trading and access to Squire’s shares.”

The OTCQB is recognized by the United States Securities and Exchange Commission as an “established public market” and is a leading market for U.S. and international companies in the entrepreneurial and development stage. To be approved for listing, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com.

Squire’s listing on the OTCQB is a key milestone in strengthening the Company’s recent change of business (the “Change of Business”) as a developer of data mining infrastructure and system technology (including ASIC chips and mining rigs) to support the mining of cryptocurrencies including Bitcoin Cash (BCH) and other alt coins such as coins using Segwit technology.

Recap of Significant Milestones to Date Since March, 2018, Squire has successfully completed the following milestones:

March, 2018 – Squire signs letter agreement with Peter Kim and forms Aracore Technology Corp. (“Aracore”) as a joint venture company to develop application specific integrated circuit (ASIC) chips to mine Bitcoin and other cryptocurrencies. The Company currently owns 75% of Aracore with Peter Kim owning the remaining 25%. To date, the Company has provided initial funding in excess of US$3.0 million to finance Aracore’s design and development of next generation ASIC chips.

April 1, 2018 – Squire enters into technology development agreement with private arm’s length development company based in Seoul, Korea for front-end design and development of next generation ASIC chips.

May 29, 2018 – Squire completes non-brokered private placement financing of 13,174,500 units (one share and ½ warrant) at a price of $0.25 per unit for gross proceeds of $3,293,625 to fund the design and development of next generation ASIC chips.

July 5, 2018 – Squire announces Change of Business and $25,500,000 financing to fund ongoing development and manufacture of ASIC chips and mining rigs.

August 1, 2018 – Squire announces design service agreement with arm’s length design fabrication company for back-end design, testing and mass production test run of initial next generation ASIC chip for mining Bitcoin.

August 2, 2018 – Squire announces CSE approval for Change of Business and files Form 2A Listing Statement dated July 31, 2018 with the CSE and SEDAR.

August 10, 2018 – Squire completes $25,500,000 financing of 63,750,000 units (one share and ½ warrant) at a price of $0.40 per unit to fund Change of Business and development and manufacture of next generation ASIC chips and mining rigs.

August 10, 2018 – Squire appoints Peter Wielgosz as a director of the Company. Mr. Wielgosz is a lawyer with more than 12 years experience across Australia, Europe and the Middle East with a particular focus on capital markets and structuring financial instruments, most recently as legal advisor to family offices working on a variety of acquisitions, divestments, and private equity deals. Prior thereto, Peter was an attorney in the capital markets practice of Clifford Chance LLP in both its Dubai and London offices and in the banking and project finance team with Freehills in Melbourne, Australia.

August 10, 2018 – Squires executes exclusive worldwide distributor agreement with an associate of Coingeek.com, the world’s largest miner of Bitcoin Cash (BCH). Upon completion of the development and manufacture of the Company’s initial ASIC chip and mining rig, the distributor will have the exclusive worldwide right to market, promote, solicit, sell and distribute the chip and mining rig to Bitcoin BCH and other alt coin miners under the CoinGeek.com brand, subject to certain minimum purchase requirements.

August 21, 2018 – Squire announces formation of 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 to be sold globally under the Coingeek.com brand. The Company owns 75% of Arasystems with Future Farm owning the remaining 25%.

August 21, 2018 – Squire announces provisional agreement between Arasystems and an arms-length major global technology assembly company to assist in the design and assembly of the Company’s initial mining rig following completion of a working prototype of the Company’s initial ASIC chip. The provisional agreement is non-binding and subject to negotiation and execution of a formal design and assembly agreement.

September 10, 2018 – Squire announces the appointment of Stefan Matthews as a director of the Company. Mr. Matthews has significant senior management and executive leadership experience totalling more than 30 years in the technology and online services sector and is a founder and current Chairman of the nChain Group, known for global leadership in blockchain and bitcoin research. BMG, a division of the nChain Group, has a significant investment in Bitcoin BCH mining, operating a diversified fleet in multiple locations.

September 19, 2018 – Squire secures listing on OTCQB Venture Marketplace.

Corporate objectives for Balance of 2018 and 2019:

Third Quarter of 2018: Complete front-end design and development of initial next generation ASIC chip.

Fourth Quarter of 2018:

  1. Complete back-end design and development of initial ASIC chip.
  2. Enter into formal development and assembly agreement with global technology assembly company to design and assemble the Company’s initial mining rig.
  3. Complete manufacture and assembly of a pilot production test run of initial ASIC chips and mining rigs for Bitcoin BCH.
  4. Deliver pilot production test run of initial ASIC chips and mining rigs to Coingeek.com and its associates by late 2018 or early 2019 for worldwide distribution and sale.

2019:

  1. Manufacture and sell sufficient quantities of initial ASIC chips and mining rigs to achieve positive cash flow.
  2. Establish necessary infrastructure and support systems to facilitate the distribution of ASIC chips and mining rigs to Coingeek.com and its associates under the Company’s exclusive distributor agreement including a network of customer support centres in key markets.
  3. Create market presence and establish reputation as a new and innovative supplier of high quality, next generation ASIC chips and mining rigs for Bitcoin.
  4. Research and develop one or more subsequent generations of improved ASIC chips and mining rigs to mine Bitcoin.

Simon Moore, Executive Chairman and Chief Executive Officer of Squire, stated “I am very proud of the hard work and dedicated effort of our management team, technical personnel in Asia and board of directors in accomplishing the considerable milestones achieved to date in a very short period of time and look forward to introducing our new next generation ASIC chip and mining rig for Bitcoin to the world by year’s end.”

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

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, distribution and sale of the Company’s next generation ASIC chips and mining systems for Bitcoin and the timing 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, 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 on SEDAR for a more detailed discussion of certain risk factors facing the Company in connection with Change of Business. 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 4 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. 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 Announces Appointment of New Board Member

VANCOUVER, B.C., Squire Mining Ltd. (CSE: SQR) – September 10, 2018 – Squire is pleased to announce that Stefan Matthews has been appointed to the Board of Directors. Mr. Matthews has significant senior management and executive leadership experience totalling more than 30 years in the technology and online services sector, where he has been responsible for operations in Australia, Japan, Hong Kong, South Korea, Singapore, Spain, Malta and the United Kingdom at CIO, CTO and CEO level. He has been actively involved in several IPOs (Australia and USA) and multiple mergers and acquisitions.

In 2015, Mr. Matthews was a founder and is currently Chairman of the nChain Group, known for global leadership in blockchain and bitcoin research. BMG, a division of the nChain Group has a significant investment in Bitcoin BCH mining, operating a diversified fleet in multiple locations.

Mr. Matthews holds a Bachelor of Financial Administration and a MBA (International Business) from the University of New England.

In connection with his appointment as a director, Mr. Matthews has been granted an incentive stock option to purchase 200,000 common shares at an exercise price of $0.77 per share, exercisable for a term of two years from the date of grant. Squire Mining announces that Owen King has resigned as a director of the Company. The Board wishes to thank Mr. King for his contribution to the Company and wishes him well for the future.

For further information contact:

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

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

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Squire Closes $25,500,000 Private Placement Financing; Signs Exclusive Distributor Agreement

VANCOUVER, British Columbia, Aug. 10, 2018 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE: SQR) – Further to the Company’s news release dated July 5, 2018, the Company is pleased to announce that it has closed its non-brokered private placement equity financing of $25,500,000 (the “Financing”) to fund its change in business (the “Change in Business”) as more particularly described in the Company’s Form 2A Listing Statement dated July 31, 2018 (the “Listing Statement”) posted under the Company’s profile on the Canadian Securities Exchange’s website at https://thecse.com/ and on SEDAR at www.sedar.com.  The Company is now engaged in the business of developing, manufacturing and selling data mining infrastructure and system technology (including ASIC chips and mining rigs) to support global blockchain applications in the cryptoasset mining space. Shareholder approval for the Change in Business by a majority of the Company’s disinterested shareholders has also been obtained by way of written consent resolution.

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Squire Posts Listing Statement for Change of Business

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VANCOUVER, British Columbia, Aug. 02, 2018 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE: SQR) Further to the Company’s news releases dated July 5, 2018 and August 1, 2018, the Company has now posted its Form 2A Listing Statement dated July 31, 2018 (the “Listing Statement”) with respect to its previously announced change of business (the “Change of Business”) on the Canadian Securities Exchange’s website at https://thecse.com/.  A copy of the Listing Statement has also been filed and is available for review under the Company’s profile on SEDAR at www.sedar.com.

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Squire Signs Design Service Agreement for ASIC Chips; Announces Officer Changes

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VANCOUVER, British Columbia, Aug. 01, 2018 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE:SQR) – Further to the Company’s news release dated July 5, 2018 announcing its change of business (the “Change of Business”) to the development and manufacture of data mining infrastructure and system technology to support global blockchain applications in the mining space, the Company has entered into a design service agreement (the “Design Agreement”) with an arm’s length design fabrication company (the “Design Firm”) for the back-end design, testing and initial mass production run of the Company’s next generation ASIC chip for mining bitcoin.

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Squire Announces Change of Business; Arranges C$25,500,000 Financing

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VANCOUVER, British Columbia, July 05, 2018 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE:SQR) – The Company announces that, subject to shareholder and regulatory approvals, it is undertaking a change of business (the “Change of Business”) from a mineral exploration company to a developer and manufacturer of data mining infrastructure and system technology to support global blockchain applications in the mining space.

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Squire Announces Final Closing of Non-Brokered Private Placement and Change of Officer

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, May 29, 2018 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE:SQR) – The Company has now completed the second and final tranche of its non-brokered private placement announced on March 14, 2018, as amended May 4, 2018.  The Company issued an additional 3,744,500 units (the “Units”) at a price of C$0.25 per Unit for gross proceeds of $936,125. Each Unit consisted of one common share and one-half (1/2) of a share purchase warrant, each whole warrant entitling the holder to purchase an additional common share at a price of C$0.50 for a period of two years. The Company completed an initial tranche of 9,430,000 Units for gross proceeds of $2,357,500 on May 16, 2018 for a total combined offering of 13,174,500 Units or $3,293,625 (the “Offering”). The net proceeds of the Offering will be used for the purposes disclosed on March 14, 2018.

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Squire Increases First Tranche of Non-Brokered Private Placement and Grant of Stock Options

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, May 16, 2018 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE:SQR) – The Company announces that it has increased the first tranche of its non-brokered private placement announced on March 14, 2018 and May 4, 2018.  In addition to the 2,000,000 units announced on May 9, 2018, the Company has issued an additional 1,430,000 units, for a total of $2,357,500 raised to date.  The units were issued at a price of C$0.25 per unit, with each unit comprised of one common share and one-half (1/2) of a share purchase warrant, each whole warrant entitling the holder to purchase an additional common share at a price of C$0.50 for a period of two years. (more…)

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