Cathedra Bitcoin Announces Grant of RSUs

Rhea-AI Summary

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) has granted 487,244 restricted share units (RSUs) to an officer as part of its equity compensation plan. The RSUs will vest over a period of 24 months, with 60% vesting one year after October 25, 2022, and the remainder vesting every six months thereafter. Cathedra operates bitcoin mining infrastructure with a total hash rate of 203 PH/s across multiple locations in the U.S. The RSUs will expire on October 25, 2027.

Positive

• Cathedra's diversified bitcoin mining operations total 203 PH/s.
• The RSUs align officer compensation with company performance, potentially driving growth.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Cathedra” or the “Company”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, announces the granting of 487,244 restricted share units ("RSUs") to an officer of the Company in accordance with the Company's equity compensation incentive plan ("Incentive Plan") as compensation for ongoing services rendered to the Company. Each RSU, once vested, will allow the holder to acquire one Common Share of the Company. The RSUs vest sixty percent (60%) twelve (12) months following October 25, 2022; and (ii) twenty percent (20%) every six (6) months thereafter, such that one hundred percent (100%) of the RSUs will be vested twenty-four (24) months following October 25, 2022, subject to the policies of the TSX Venture Exchange (the "Exchange"). The RSUs expire on October 25, 2027.

About Cathedra Bitcoin

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.

Cathedra believes sound money and 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’s diversified bitcoin mining operations total 203 PH/s and span three states and five locations in the United States. 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 more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025006129/en/

Media and Investor Relations Inquiries

Please contact:

Sean Ty

Chief Financial Officer

ir@cathedra.com

Source: Cathedra Bitcoin Inc.

FAQ

What is the significance of the RSUs granted by Cathedra Bitcoin Inc.?

The RSUs serve as compensation for an officer and could incentivize performance as they vest over two years.

What is the current hash rate of Cathedra Bitcoin Inc.?

Cathedra's diversified bitcoin mining operations have a total hash rate of 203 PH/s.

When do the RSUs granted by Cathedra Bitcoin Inc. expire?

The RSUs will expire on October 25, 2027.

How does Cathedra Bitcoin Inc. compensate its officers?

Cathedra compensates its officers through equity incentives, including restricted share units.

What does Cathedra Bitcoin Inc. focus on in its operations?

Cathedra focuses on developing and operating bitcoin mining infrastructure using diversified energy sources.