Cathedra Bitcoin Announces Equity Compensation Grants
January 26 2022 - 6:18PM
Cathedra Bitcoin Inc. (TSX-V: CBIT) (“
Cathedra” or
the “
Company”), a Bitcoin company that develops
and operates world-class bitcoin mining infrastructure, announces
that it has granted to employees of the Company 2,361,732
restricted share units (the “
RSUs”), and 266,523
options to acquire common shares of the Company (the
“
Options”) under the Company’s long term incentive
plan (the “
LTIP”). The Options have an exercise
price of C$0.43 per share, being the price of the Company’s shares
at the close of trading on January 26, 2022. The Options and RSUs
are subject to vesting conditions.
Cancellation of Restricted Share
Units
The Company also announces that it has agreed
with certain directors and officers of the Company to cancel an
aggregate of 1,161,732 restricted share units previously held by
such directors and officers. Under the LTIP, the Company may grant
up to an aggregate of 8,000,000 RSUs.
For more information, please visit
www.cathedra.com or follow Company news via Twitter
@CathedraBitcoin.
About Cathedra Bitcoin
Cathedra Bitcoin (TSX-V: CBIT) is a Bitcoin
company that develops and operates world-class bitcoin mining
infrastructure.
Cathedra believes sound money and cheap,
abundant energy are the fundamental ingredients to human progress,
and is committed to advancing both by working closely with the
energy sector to secure the Bitcoin network. Today, Cathedra owns
187 PH/s across various sites around the United States and expects
to deploy an additional 538 PH/s in 2022. Upon the full deployment
of its purchased machines, Cathedra’s hash rate is expected to
total 725 PH/s. The Company is focused on expanding its portfolio
of hash rate through a diversified approach to site selection and
operations, utilizing multiple energy sources across various
jurisdictions.
For further information, please contact:
Sean TyChief Financial Officer604 477
9997ir@cathedra.com
Cautionary Statement
Trading in the securities of the Company should
be considered highly speculative. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain
“forward-looking information” within the meaning of applicable
Canadian securities laws that are based on expectations, estimates
and projections as at the date of this news release. The
information in this release about future plans and objectives of
the Company, are forward-looking information. Other forward-looking
information includes but is not limited to information concerning:
the intentions and future actions of senior management, the
intentions, plans and future actions of the Company, as well as the
Company’s ability to successfully mine digital currency; revenue
increasing as currently anticipated; the ability to profitably
liquidate current and future digital currency inventory; volatility
of network difficulty and, digital currency prices and the
resulting significant negative impact on the Company’s operations;
the construction and operation of expanded blockchain
infrastructure as currently planned; and the regulatory environment
of cryptocurrency in applicable jurisdictions.
Any statements that involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but
not always using phrases such as “expects”, or “does not expect”,
“is expected”, “anticipates” or “does not anticipate”, “plans”,
“budget”, “scheduled”, “forecasts”, “estimates”, “believes” or
“intends” or variations of such words and phrases or stating that
certain actions, events or results “may” or “could”, “would”,
“might” or “will” be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
information and are intended to identify forward-looking
information.
This forward-looking information is based on
reasonable assumptions and estimates of management of the Company
at the time it was made, and involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking information. The
Company has also assumed that no significant events occur outside
of the Company’s normal course of business. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
undertakes no obligation to revise or update any forward-looking
information other than as required by law.
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