Mr. David Jellins reports
CRYPTOSTAR CORP. ANNOUNCES CLOSING OF MINING EQUIPMENT PURCHASE
Further to its press releases dated March 8, 2021, and March 30, 2021, Cryptostar Corp. and a Hong Kong-based company have closed on the purchase and sale of GPU (graphics processing unit) and ASIC (application-specific integrated circuit) miners capable of a minimum total hashrate of 25,950 megahashes per second (MH/s) and 5,510 terahashes per second (TH/s), respectively. The company has issued 5,927,151 units of the company to the vendor at a deemed value of $1,422,516.24 and an additional 355,629 units to Chen Peifeng in connection with transaction.
Each unit consisted of one common share of Cryptostar and one common share purchase warrant of Cryptostar. Each warrant entitles the holder to acquire one common share at a price of 36 cents per common share for a period of 18 months from the date of issue.
The transaction, including payment of the finder's fee, is subject to TSX Venture Exchange approval.
About Cryptostar Corp.
Cryptostar has cryptocurrency mining operations with data centres located in the United States and Canada. Cryptostar is currently dedicated to becoming one of the lowest-cost cryptocurrency producers in North America and a major supplier of GPU and ASIC miners worldwide.
We seek Safe Harbor.
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