Extension of Termination Deadline as Squire Awaits Approval of CSE

VANCOUVER, British Columbia, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”), Mr. Calvin Ayre, Cunning Hams Limited, Tansley Equipment Limited and Woodland Technology Group Inc. have agreed to extend, from October 31, 2019 to December 31, 2019, the termination date included in the executed definitive share purchase agreement, as announced by press release of Squire dated August 29, 2019.

CSE Stock Halt

As the share purchase transaction (the “Transaction”) constitutes a “fundamental change” (“Fundamental Change”) of Squire, as defined in Policy 8 of the Canadian Securities Exchange (“CSE”), Squire’s stock has been halted pursuant to CSE Policies and will remain halted at least until meeting materials have been accepted by CSE, sent to shareholders of Squire for approval of the Fundamental Change and posted to CSE’s website. The halt is considered a Regulatory Halt as defined in National Instrument 23‐101‐Trading Rules.

Update regarding Shareholders’ Meeting

Further to the press release of Squire dated August 29, 2019, in which it was announced that Squire made a submission of a revised CSE Form 2A Listing Statement (the “Listing Statement”) to the CSE, it is to be noted that Squire and the team at the CSE continue discussions to further revise the Listing Statement. 

In due course, Squire will announce the new date for its shareholders’ meeting (the “Shareholders’ Meeting”) to, inter alia, approve the Fundamental Change. At this point, Squire is unable to determine a set timeline for the Shareholders’ Meeting, as the date of approval of the CSE is unknown and has not been communicated to Squire.

About Squire Mining Ltd. 

Squire is a Canadian based technology company engaged, through its subsidiaries, in the business of developing and operating cloud computing data infrastructure and system technology to support global blockchain applications related to Bitcoin SV, Bitcoin Core and other associated SHA‐256 derived digital assets.

For further information contact:

Angela Holowaychuk

Interim Chief Executive Officer

Telephone: +1 800‐371‐2809

The CSE accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION:

This news release includes “forward‐looking information” as defined under applicable Canadian securities legislation. Forward‐looking information and statements include, but are not limited to, disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action, and, in certain cases, can be identified by the use of words such as “potential”, “propose”, “aim”, “depend”, “seeks”, “plans”, “expects”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “can”, “could”, “should”, “shall”, “would”, “might” or “will”, or the negative forms of any of these words and other similar expressions. 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, future demand for Bitcoin SV, Bitcoin Core and other digital assets and risks related to the mining thereof, when and if halving of Bitcoin will take place and the impact such halving will have on profitability, the ability to increase block size and the effects of such increases, integration issues, personnel and staffing requirements of Squire, technological change and obsolescence, the timing of the release of the CSE stock halt in respect of the common shares of Squire, the timing of the Shareholders’ Meeting, the timing of the mailing of meeting materials in respect of the Shareholders’ Meeting to shareholders of Squire, receipt by Squire of the necessary approvals of the CSE in respect of the meeting materials and the Listing Statement (including the timing thereof) and risks relating to completion of the Transaction  (on the terms presently contemplated or at otherwise). 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. Squire 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.