Forward-looking statements in this news release include, without limitation, statements respecting: the Restructured Agreement and completion of the transactions contemplated therein; AI-driven KASPAMind software’s ability to enhance mining efficiency, optimize hardware performance and maximize rewards by adapting to Kaspa's unique proof-of-work (PoW) architecture; further expansion of Kaspa Mining’s operation under the MSA; Kaspa being a truly scalable and sustainable digital asset for real-world applications; the further strengthening of Dynamite’s mining capabilities and the reinforcement of its position as a key player in shaping the future of blockchain technology; Dynamite’s commitment to driving the adoption and utility of Kaspa as a next generation blockchain ecosystem; and the Company’s intention to continue lay the groundwork for transformative applications and cutting-edge infrastructure that will redefine how decentralized systems operate in the real world.
The Company moves ahead with its investment in Kaspa Mining Limited further building its Kaspa Mining OperationsVancouver, B.C., Jan.29, 2025 (GLOBE NEWSWIRE) -- Dynamite Blockchain Corp.(the "Company” or "Dynamite”) (CSE: KAS) is pleased to announce that, further to its news release dated December 2, 2024, it has terminated its previously proposed acquisition (the "Original Acquisition”) of 100% of the outstanding shares of Kaspa Mining Limited ("Kaspa Mining”) and entered into a new arm’s length share purchase agreement (the "Restructured Agreement”) dated January 28, 2025.
The Restructured Agreement provides for the Company’s acquisition of an initial 20% stake in Kaspa Mining from Kaspa Mining’s current shareholders (the "Vendors”) for CAD$1 million, to be settled by way of an interest-bearing promissory note providing for, among other things, minimum payments by the Company of $200,000 every six months until maturity.
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