News

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.

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.

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.

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.

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.

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.

Police crack down on crypto ATMs across Russia

Cryptocurrency and blockchain technology have been making steady advancements into the mainstream market in many countries around the world, but apparently, this was not the case in Russia. According to local media reports, Russian police have seized no less than 22 automated teller machines (ATMs) selling cryptocurrency in several cities in Russia last week.

Operated by the Bbfpro company, the machines were located in shopping malls, restaurants and stores in nine different Russian cities, Russian news outlet RBC reported, quoting Digital Rights Center lawyer Sarkis Darbinyan.

In a separate interview with Russian media outlets, Bbfpro manager Artem Bedarev claimed there was no notice from the Russian authorities prior to the crackdown, noting that the investigation would continue for at least another six months. The machines would not be returned to Bbfpro while the investigation is ongoing.

The operation was ordered by the Prosecutor’s General Office, acting on a request from the Central Bank of Russia (CBR), a government agent told local media outlets. A CBR officer, who declined to comment on the crypto ATM seizures, noted that the government agency conducts “systematic work to identify and counteract illegal activities in the financial market,” particularly since there is a high chance that uncontrolled cross-border fund transfers and cash outs involving cryptocurrencies can happen.

Darbinyan, however, pointed out that the Russian Federation’s current laws do not prohibit citizens from acquiring cryptocurrencies. Bbfpro, for its part, has been observing all legal procedures, paying its taxes, and verifying the identity of its customers even without prompt from the government.

Bbfpro plans to appeal the seizure operation, according to the lawyer.

On its website, Bbfpro said its machines support purchases of cryptocurrencies like BTC. The company works with crypto exchange Exmo, offering technical support for the ATMs. According to Bbfpro, installing one terminal costs 155,000 rubles ($2,300). It charges 1 percent on the registered turnover, which is considerably less than other crypto ATMs in other countries. For example in Malta, ATM operators charge no less than 8% on each transaction.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Kraken, Okex, Huobi and major Asian crypto funds go to Blockchain Life 2018

The list of speakers of the key forum on blockchain, cryptocurrencies, ICO and mining – Blockchain Life 2018 – was replenished by owners and top managers of the biggest Chinese cryptocurrency funds and international exchanges. The forum will be held on November 7-8 in St. Petersburg, Russia.

Among the speakers: Maximilian Marenbach (Kraken Exchange), Wu Xing (Huobi Exchange), Aldrich Victorino (Okex Exchange), Charles Cai (Dalian Wanda Group), Jason Hu (World Blockchain Organization) and others. The full list of speakers is available here: https://blockchain-life.com/en/#speakers

At the moment, the main activity in the world of investments in crypto projects is observed in Asian countries. Thus, the forum participants will be able to learn all the trends of 2018 firsthand, and the ICO projects of Eastern European will have a unique opportunity to attract funding within the Pitch-section, without participating in expensive Road shows around the world.

Given the international composition of the participants, Blockchain Life 2018 organizes the legendary AfterParty in the biggest Chinese restaurant in Europe. In a favorite format for the forum participants “all inclusive”: elite alcohol, European and Chinese cuisine, comfortable conditions for networking and enchanting show program. By the way, last year AfterParty special guest was the famous russian boy band “Ivanushki International”.

On September 1st, applications for the International Blockchain Life Awards will be opened, which will determine the best companies in their field. Learn more about the Award on the conference website.

Despite the global scale of the event, tickets with the opportunity to attend reports are still available from $41.

Buy a ticket to a key global event in the industry, there is very little time before the next rise in price https://blockchain-life.com/en/

Organizers: https://listing.help/ – the output of projects on exchanges, https://icotop.io/  – rating agency

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Vin Armani: Bitcoin is always supposed to be instant

CoinGeek’s Stephanie Tower spoke with CoinText CTO Vin Armani about the app’s ability to reach people who otherwise would have no use for blockchain technology, and how similar phenomena are becoming more common.

When one thinks of blockchain, the need for an internet connection is usually implied. However, CoinText makes it possible to transfer sums of Bitcoin Cash (BCH) with only the use of good old-fashioned SMS. The app, currently in public beta release, is already being used for hundreds of thousands of transactions.

“This is the type of thing what we wanted to do with this is we wanted to make a product that was so simple to use, that even somebody’s 70-year-old grandmother who has no experience could easily use it, there’s no signup required, ” Vin Armani, CoinText’s CTO, said.

Because of the use of phone numbers instead of their paired private keys, it is possible to use phones from a decade ago, prior to the popular adoption of the iPhone and Android devices. According to Armani, “This is one of the first times that we’ve been able to have mobile cryptocurrency transfer, and people can even use their old feature phones, you know, the old flip phones.”

Because no signup is needed, one can be brought into the world of Bitcoin “in literally 30 seconds,” he said, noting that, “For us, it’s an adoption engine, really.”

CoinText has been operating initially in English-speaking countries, such as the United States, Canada, UK, Australia and South Africa, among others. To entice customers, a small free amount of BCH is offered for one to start sending.

This shift, from the strictly blockchain world to outside of it, is going to continue, and Armani is confident enough to say, “I’d prefer to take crypto over fiat, over PayPal, over credit cards. I think more merchants will in the future.”

He said that just by virtue of accepting crypto payments, one has an advantage over other merchants. “You’re going to get a whole lot of customers that simply won’t patronize your competitors. So right now there’s a huge competitive advantage like, if we get outside of the technical, of the fees, get outside of all of that, right now is a prime opportunity for merchants to jump in and get all kinds of customers just on a marketing basis, simply by accepting Bitcoin Cash. We’re ready to spend it with them, so as soon as they adopt it, they’re just going to have a flood of the most awesome and loyal customers that they could possibly imagine.”

The future of Bitcoin, in particular, is bright, in terms of mainstream adoption. Armani said, “By far, this is the best chain. Zero-confirmation is probably the most important thing, and Bitcoin was always supposed to be instant,” he said.

If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the first CoinGeek Week happening in London in November. Members of bComm Association can avail CoinGeek Week tickets at discounted prices. To purchase tickets or learn more about CoinGeek Week Conference, visit the official website here.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Japan puts more pressure on crypto exchanges

Japan’s Financial Services Agency (FSA) is making it tougher for cryptocurrency exchanges to register their businesses in the country, requiring disclosure of a lot more information than before, the Japan Times reported.

The regulator is requiring applicants to answer approximately 400 questions, from about 100 questions previously, during the screening process, as part of its efforts to keep customers’ money safe.

Among the added requirements for exchanges is to provide the FSA copies of minutes of board meetings, to ensure that sufficient discussions are held about a company’s financial management, and about database security. The FSA will also monitor a company’s list of shareholders, checking for, as the Japan Times phrased it, “links to antisocial groups.”

According to news.bitcoin.com, there are 160 companies looking to operate in Japan, but it remains to be seen how many will pursue their applications with the added requirements. At present, there are 16 exchanges licensed by the FSA. Another 16 are operating while their applications are pending review.

The stricter registration process comes after the January hacking of Coincheck, which lost a total of 523 million NEM tokens (XEM) worth $528 million at the time. This was larger than the 2014 Mt Gox hack where thieves took off with Bitcoins worth $480 million at the time. As early as March, Coincheck began the process of partially refunding those whose tokens were stolen.

Since the Coincheck hack, the FSA has conducted on-site inspections as a way to confirm information stated in applications. Such inspections revealed a lack of protection for users, in terms of manpower assigned to handle the large sums of money, and a skirting of anti-money laundering requirements. Some exchanges were suspended as a result. It was also found that records of minutes of the board were not kept properly.

The FSA has stated that it would allow the local cryptocurrency industry to grow, but “under appropriate regulation.”

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Crypto market daily report – September 3, 2018

The cryptocurrency markets continued their impressive recovery on Monday with most coins showing positive increases after a positive weekend following many months of bearish activity. BTC held above the $7200 level after having even superseded the $7300 mark in a flurry of activity with turnover also increasing considerably.

Bitcoin Cash was the star of the show over the past 48 hours, rising by no less than 20% on Sunday to reach the $650 level before dropping back slightly to the $630 level on Monday morning at press time. Ripple remained stuck between the $0.33 and $0.35 range, but analysts have predicted a considerable move upwards in the coming weeks as interest and positive news surrounding the cryptocurrency continued to increase.

Ethereum was the only outlier in this positive move upwards with a price range that continued to hover between the $280 and the $300 mark, although there was very little movement either way. EOS performed an impressive climb of over 20% over the past few days –in fact it is around 35% up on a weekly basis to settle at the $6.50 mark with a further push upwards not unexpected.

Other coins with smaller market caps also saw a good increase with Ethereum Classic charging ahead and bullying the $14 level on Monday at press time—a level not seen since July. Litecoin registered a good increase to the $66 level before falling back slightly to the $65 mark but appeared well supported at that level. NEO was also up by over 15% over the weekend and was trading at the $22 level at press time, whilst XLM appeared slightly static with a trade range between the $0.22 and $0.23 levels. Cardano was slightly disappointing as it retraced slightly to the $0.103 level after having touched the $0.105 mark on Saturday or an 8% increase.

IOTA retained the $0.70 mark on Monday after having retraced slightly over the weekend, whilst ICX and ONT saw 5% declines to the $0.90 and $2.40 levels respectively. DASH also performed positively and held above the $200 mark although it decreased slightly over the past 24 hours by around 2%.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Philippines’ SEC eyes September release for crypto exchange draft rules

The Philippines’ Securities and Exchange Commission (SEC) will soon release draft rules for cryptocurrency exchanges in the country.

According to news outlet BusinessWorld, Commissioner Ephyro Luis Amatong said after an en banc meeting that the draft guidelines are to be released “hopefully within the first half of September,” with the intention of receiving input for changes to be made. The SEC will then issue its finalized regulations by the end of the year.

The SEC will be basing the draft guidelines on regulations already being implemented in the U.S., Australia and Switzerland. “We want to create an environment where investors can feel more or less safe in investing in what are essentially securities that have a digital form… Instead of paper or securities that are housed within PDTC [Philippine Depository & Trust Corp.], the depository [will be] housed on a blockchain,” Amatong said.

The commissioner also noted that SEC has started discussions with the Philippine central bank, the Bangko Sentral ng Pilipinas (BSP), about sharing oversight on cryptocurrency exchanges. Already, the BSP has its regulations on cryptocurrency exchanges, released back in February 2017. In its circular, each “virtual currency exchange” (VCE) must register with the BSP “to operate as a remittance and transfer company,” and file annual and quarterly reports. As of July, there are five exchanges registered with the BSP.

Amatong pointed out that the BSP’s role was limited to the aspect of money changing in cryptocurrency exchanges. “But… all of the VCEs are applying to allow them to act as trading platforms. When it comes to trading platforms, it is a concern of the SEC to be discussed with the BSP,” he said.

In August, the SEC released its draft guidelines on initial coin offerings (ICOs), in which it outlines requirements for proposing an ICO, including the submission of a whitepaper to be updated as necessary.

The Philippines is among the first countries to issue its regulations in cooperation with existing industry players. The BSP has merely cautioned of the risks associated with investing in cryptocurrencies, but has not prescribed prohibitions on the matter.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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