Month: January 2019

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.

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.

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.

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.