Cathedra Bitcoin Announces Results of Annual General and Special Meeting of Shareholders

Rhea-AI Summary

Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) held its Annual General and Special Meeting on September 6, 2022. Shareholders elected five management nominees for the board, ensuring continuity in leadership. Additionally, shareholders approved a long-term incentive plan aimed at aligning management interests with those of shareholders. Cathedra operates a robust bitcoin mining infrastructure totaling 166 PH/s across four U.S. locations, aiming for further growth through diversified energy sources.

Positive

• Shareholders elected all five management nominees to the board, ensuring stable leadership.
• The approval of a long-term incentive plan may align management objectives with shareholder interests.
• The company operates a significant bitcoin mining capacity of 166 PH/s across multiple locations.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- (Block Height: 752,924) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Cathedra” or the “Company”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, is pleased to announce the results of its Annual General and Special Meeting of shareholders (“Shareholders”) held on September 6, 2022 (the “Meeting”).

Shareholders elected all five management nominees to the board of directors of the Company for the ensuing year. As such, the Cathedra board of directors remains:

Roy Sebag
Thomas (“Drew”) Armstrong
Antonin (“AJ”) Scalia
David Jacques
Marcus Dent

Shareholders also voted in favor of a special resolution adopting a long-term incentive plan (the “LTIP”) of the Company for the ensuing year, the full text of which is available in the Company’s information circular dated July 18, 2022, available on the Company’s SEDAR profile at www.sedar.com.

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 166 PH/s and span three states and four 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/20220907005313/en/

Media and Investor Relations Inquiries

Please contact:

Sean Ty

Chief Financial Officer

ir@cathedra.com

Source: Cathedra Bitcoin Inc.

FAQ

What were the results of Cathedra Bitcoin's Annual General Meeting held on September 6, 2022?

Shareholders elected all five management nominees to the board and approved a long-term incentive plan.

What is the significance of the long-term incentive plan adopted by Cathedra Bitcoin?

The long-term incentive plan aims to align management's interests with those of shareholders.

How much bitcoin mining capacity does Cathedra Bitcoin operate?

Cathedra Bitcoin operates a mining capacity of 166 PH/s across four locations in the U.S.

What are the ticker symbols for Cathedra Bitcoin?

The company is traded as TSX-V: CBIT and OTCQX: CBTTF.