True Global Ventures exercises CAD$2.3M worth of Warrants in Canada Computational Unlimited Corp (CCU)
The proceeds will be used to further expand renewable energy Bitcoin mining operations
The proceeds will be used to further expand renewable energy Bitcoin mining operations
27 October 2021 -- Toronto, ON
Canada Computational Unlimited Corp. (the “Company”,“CCU.ai” or “SATO”) is pleased to announce that True Global Ventures 4 Plus Fund PTE LTD ("TGV4+") exercised warrants to acquire 3,085,001 common shares at a price of CAD $0.75 per common share for proceeds of CAD $2,313,750.75.
Romain Nouzareth, CEO of CCU.ai commented “We are encouraged by TGV4+ continued support and confidence in SATO. This strengthens our cash position and allows us to continue to advance our operations and the targets we set for the company.”
This comes just after a recent purchase of electrical equipment for 10 MW for the Company's Center One Facility in Joliette (Quebec) and an additional 8 MW for future expansions.
The Company is currently hashing at a rate of 160 PH/s with plans to expand to a hashrate of 600 PH/s by the end of 2022, to further expand its influence in the renewable energy Bitcoin mining space.
According to the Bitcoin Mining Council ("BMC"), which consists of 29 mining and DeFi companies, representing 33% of Bitcoin’s mining network, Bitcoin mining only uses 0.12% of the world’s energy production and has one of the highest usage of sustainable mixed energy of any industry. The finding also states that Bitcoin mining uses 76% of energy that would have gone to waste.
Being an organization that invests in the equity of Serial Entrepreneur-led companies that look to change the world for the better using or about to use Distributed Ledger Technologies (DLT) such as Blockchain, TGV4+ continues to support CCU.ai in its vision of being a global leader in the high-grade crypto-mining, AI data processing, and fintech infrastructure space.
"We believe that Bitcoin blockchain technology applications are improving very rapidly. Examples such as the usage of Bitcoin in countries like El Salvador with the Lightning Network, which purpose is to bring micropayments back into the mainstream. With more adoption of such Bitcoin related technologies, it is very important to support them sustainability, which is what CCU.ai has committed to with its use of renewable hydro energy. We look forward to CCU.ai to continue to help build this sustainable future for all of us", commented Dusan Stojanovic, Founding Partner, True Global Ventures.
Canada Computational Unlimited Corp. (the “Company”,“CCU.ai” or “SATO”) is pleased to announce that True Global Ventures 4 Plus Fund PTE LTD ("TGV4+") exercised warrants to acquire 3,085,001 common shares at a price of CAD $0.75 per common share for proceeds of CAD $2,313,750.75.
Romain Nouzareth, CEO of CCU.ai commented “We are encouraged by TGV4+ continued support and confidence in SATO. This strengthens our cash position and allows us to continue to advance our operations and the targets we set for the company.”
This comes just after a recent purchase of electrical equipment for 10 MW for the Company's Center One Facility in Joliette (Quebec) and an additional 8 MW for future expansions.
The Company is currently hashing at a rate of 160 PH/s with plans to expand to a hashrate of 600 PH/s by the end of 2022, to further expand its influence in the renewable energy Bitcoin mining space.
According to the Bitcoin Mining Council ("BMC"), which consists of 29 mining and DeFi companies, representing 33% of Bitcoin’s mining network, Bitcoin mining only uses 0.12% of the world’s energy production and has one of the highest usage of sustainable mixed energy of any industry. The finding also states that Bitcoin mining uses 76% of energy that would have gone to waste.
Being an organization that invests in the equity of Serial Entrepreneur-led companies that look to change the world for the better using or about to use Distributed Ledger Technologies (DLT) such as Blockchain, TGV4+ continues to support CCU.ai in its vision of being a global leader in the high-grade crypto-mining, AI data processing, and fintech infrastructure space.
"We believe that Bitcoin blockchain technology applications are improving very rapidly. Examples such as the usage of Bitcoin in countries like El Salvador with the Lightning Network, which purpose is to bring micropayments back into the mainstream. With more adoption of such Bitcoin related technologies, it is very important to support them sustainability, which is what CCU.ai has committed to with its use of renewable hydro energy. We look forward to CCU.ai to continue to help build this sustainable future for all of us", commented Dusan Stojanovic, Founding Partner, True Global Ventures.
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About CCU.ai
CCU.ai operates a state-of-the-art, carbon-neutral bitcoin mining center with a contract of 20 MW of stable, eco-friendly energy. The company’s high-density calculation centers are built for high-grade cryptocurrency mining, AI data processing, and fintech infrastructure. Founded in 2017, CCU.ai is led by technology entrepreneurs, electricity and ventilation experts, network specialists, and Canadian industrialists. Since its inception, the company has pursued a vision of environmental stewardship throughout the mining process. The excess supply of renewable energy in the province of Québec has made this endeavor feasible and a great base for growth.
About True Global Ventures
True Global Ventures 4 Plus (TGV 4 Plus) (https://www.tgv4plus.com/) is a global Venture Capital firm, regulated in Singapore, built by a group of very experienced entrepreneurs with a solid track record investing their own money together with Limited Partners into early-stage and late-stage ventures run by serial entrepreneurs leveraging Technology, Data, AI and Blockchain as a competitive advantage to drive change with proven products. TGV 4 Plus invests in Equity across 4 main verticals: Infrastructure, Financial Services, Data Analytics & AI, and Entertainment, in companies which are using the latest technology including the Blockchain / Distributed Ledger Technology. Made by serial entrepreneurs for Serial Entrepreneurs, the TGV 4 Plus Fund has a presence in 20 cities across the globe. Based out of Singapore, Hong Kong, Taipei, Seoul, Dubai, Moscow, London, Stockholm, Paris, Warsaw, New York, San Francisco, Vancouver. among others. True Global Ventures closely supports the portfolio companies to accelerate growth in new markets, expand internationally, introduce new clients, build management teams, establish new partnerships and leverage on 3000+ B2B relationships across the globe.
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.
For additional information on CCU, please contact:
Caroline Klukowski
Tel: 604.260.5490
[email protected]
For additional information on True Global Ventures, please contact:
Tel: +65 6708 8260
[email protected]
Canada Computational Unlimited Corp. (“CCU.ai”)
INVESTORS can read more about CCU high-grade, carbon-free bitcoin mining and ESG vision at: www.ccu.ai/investors
Media Contact: [email protected]
LinkedIn: https://www.linkedin.com/company/true-global-ventures
Twitter: @TrueGlobalVCs
CCU.ai operates a state-of-the-art, carbon-neutral bitcoin mining center with a contract of 20 MW of stable, eco-friendly energy. The company’s high-density calculation centers are built for high-grade cryptocurrency mining, AI data processing, and fintech infrastructure. Founded in 2017, CCU.ai is led by technology entrepreneurs, electricity and ventilation experts, network specialists, and Canadian industrialists. Since its inception, the company has pursued a vision of environmental stewardship throughout the mining process. The excess supply of renewable energy in the province of Québec has made this endeavor feasible and a great base for growth.
About True Global Ventures
True Global Ventures 4 Plus (TGV 4 Plus) (https://www.tgv4plus.com/) is a global Venture Capital firm, regulated in Singapore, built by a group of very experienced entrepreneurs with a solid track record investing their own money together with Limited Partners into early-stage and late-stage ventures run by serial entrepreneurs leveraging Technology, Data, AI and Blockchain as a competitive advantage to drive change with proven products. TGV 4 Plus invests in Equity across 4 main verticals: Infrastructure, Financial Services, Data Analytics & AI, and Entertainment, in companies which are using the latest technology including the Blockchain / Distributed Ledger Technology. Made by serial entrepreneurs for Serial Entrepreneurs, the TGV 4 Plus Fund has a presence in 20 cities across the globe. Based out of Singapore, Hong Kong, Taipei, Seoul, Dubai, Moscow, London, Stockholm, Paris, Warsaw, New York, San Francisco, Vancouver. among others. True Global Ventures closely supports the portfolio companies to accelerate growth in new markets, expand internationally, introduce new clients, build management teams, establish new partnerships and leverage on 3000+ B2B relationships across the globe.
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.
For additional information on CCU, please contact:
Caroline Klukowski
Tel: 604.260.5490
[email protected]
For additional information on True Global Ventures, please contact:
Tel: +65 6708 8260
[email protected]
Canada Computational Unlimited Corp. (“CCU.ai”)
INVESTORS can read more about CCU high-grade, carbon-free bitcoin mining and ESG vision at: www.ccu.ai/investors
Media Contact: [email protected]
LinkedIn: https://www.linkedin.com/company/true-global-ventures
Twitter: @TrueGlobalVCs