BitRush Corp. Application Has Been Heard in Toronto Court

Toronto, Ontario (FSCwire) - The Special Committee of the board of directors of BitRush Corp. (CSE:BRH, Frankfurt:0XSN) ("BRH", “BitRush” or the "Company") is providing the following update to shareholders.

The Company’s Application for relief under the oppression remedy against Werner Boehm, Alfred Dobias, MezzaCap Investments Ltd. and Elfriede Sixt was heard on May 31 and June 5 before the Ontario Superior Court of Justice – Commercial List. An order was sought to, amongst other things, clarify the capital structure of BitRush in light of the conduct by BitRush’s former CEO Mr. Boehm that the applicants alleged to be oppressive and contrary to the best interests of BitRush. 

MezzaCap Investments Ltd., Mr. Boehm, Mr. Dobias and Ms. Sixt chose not to respond to the Application. Instead they brought a motion to argue that the court case should be heard in Austria, notwithstanding that BitRush is an Ontario corporation listed on the Canadian Stock Exchange.

The Company will provide a further update when a decision is rendered.

FORWARD LOOKING INFORMATION

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities in any jurisdiction.

This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the intention of the Company to update its continuous disclosure record) constitute forward-looking information.

This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions including, the ability of the Company having the financial means and necessary information (financial and otherwise) to update and complete its continuous disclosure record. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.  Factors that could cause actual results or events to differ materially from current expectations, include, but are not limited to, the inability of the Company to receive the financial information it is seeking.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

On behalf of the Special Committee,

Karsten Arend

President, Director

For further information, contact Karsten Arend at (416) 847-1831 or info@bitrush.com.

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