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Red River Capital Corp and Bitcoin Solutions Announce Proposed Qualifying

Forex GOLD Investor


Red River” or the “Corporation“), Red River and 1739001 Alberta Ltd. o/a Bitcoin Solutions (“Bitcoin Solutions“) are pleased to announce that they have entered into a share purchase agreement (the “Agreement“) dated September 11, 2020 among the Corporation, Bitcoin Solutions and shareholders of Bitcoin Solutions (the “Bitcoin Solutions Shareholders“) to complete a reverse takeover whereby Red River will acquire all of the issued and outstanding shares of Bitcoin Solutions in consideration for the issuance of common shares of the Corporation (the “Acquisition“).” data-reactid=”19″Calgary, Alberta–(Newsfile Corp. – September 14, 2020) – Further to the news release issued June 2, 2020 by Red River Capital Corp. (TSXV: XBT.P) (“Red River” or the “Corporation“), Red River and 1739001 Alberta Ltd. o/a Bitcoin Solutions (“Bitcoin Solutions“) are pleased to announce that they have entered into a share purchase agreement (the “Agreement“) dated September 11, 2020 among the Corporation, Bitcoin Solutions and shareholders of Bitcoin Solutions (the “Bitcoin Solutions Shareholders“) to complete a reverse takeover whereby Red River will acquire all of the issued and outstanding shares of Bitcoin Solutions in consideration for the issuance of common shares of the Corporation (the “Acquisition“).

Trading of the common shares of the Corporation has been halted and will remain halted in accordance with Exchange policies until all required documentation with respect to the Acquisition has been received and the Exchange is otherwise satisfied that the halt should be lifted.

Red River Shares“) to the Bitcoin Solutions Shareholders at a deemed price of $0.12 per share, representing an aggregate acquisition price of approximately $14.4 million. Each holder of Bitcoin Solutions Class A Shares or Bitcoin Solutions Class B Shares will receive 8.917 Red River Shares for every Bitcoin Solutions Class A Share or Bitcoin Solutions Class B Share held, and each holder of Bitcoin Solutions Class I Shares or Bitcoin Solutions Class F Preferred Shares will receive 10 Red River Shares for every Bitcoin Solutions Class I Share or Bitcoin Solutions Class F Preferred Share held. The number of Red River Shares to be issued in connection with the Acquisition was determined pursuant to arm’s length negotiations between the management and the board of directors of each of Red River and Bitcoin Solutions. As a result of the Acquisition, Bitcoin Solutions will become a wholly-owned subsidiary of Red River and the Resulting Issuer will carry on the business that was conducted by Bitcoin Solutions prior to the Qualifying Transaction within the cryptocurrency industry. The Agreement also provides that the Name Change will become effective upon the closing of the Acquisition. Completion of the Acquisition and the issuance of the Red River Shares are subject to approval by the Exchange. It is anticipated that the Resulting Issuer will be listed as a Tier 1 Industrial Issuer.” data-reactid=”27″Pursuant to provisions of the Agreement, Red River will acquire 100% of the issued and outstanding securities of Bitcoin Solutions in exchange for the issuance of an aggregate of approximately 120,250,000 common shares of Red River (the “Red River Shares“) to the Bitcoin Solutions Shareholders at a deemed price of $0.12 per share, representing an aggregate acquisition price of approximately $14.4 million. Each holder of Bitcoin Solutions Class A Shares or Bitcoin Solutions Class B Shares will receive 8.917 Red River Shares for every Bitcoin Solutions Class A Share or Bitcoin Solutions Class B Share held, and each holder of Bitcoin Solutions Class I Shares or Bitcoin Solutions Class F Preferred Shares will receive 10 Red River Shares for every Bitcoin Solutions Class I Share or Bitcoin Solutions Class F Preferred Share held. The number of Red River Shares to be issued in…



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