ORONTO, ONTARIO, December 24, 2015 –BitRush Corp. (“BitRush” or the “Corporation”) is pleased to announce the appointment of Werner Boehm to assume the position of Chief Executive Officer of the Corporation, effective immediately. Mr. Boehm has worked for IBM Corporation in the Banking Division for several years before he joined one of the leading Banks in Central and Eastern Europe to become Vice President for sales & marketing for digital products. In the late 1990’s he set up the Internet Service Provider (ISP) www.yline.comin a strategic partnership with IBM Europe. He successfully sold the ISP to Telecom Austria (A1) in 2001 and has been working as serial entrepreneur
in the area of internet technology since then. Werner Boehm was an early angel investor within the bitcoin & blockchain community. Mr. Boehm takes over the position of Chief Executive Officer from Peter Lukesch, a member of the board of directors, who assumed the position of Corporate Secretary from Warren Hawkins who will remain on the board of directors.
The Board of Directors welcomes the appointment of Werner Boehm as it will not only strengthen Bitrush’s business development, but also facilitate access to further funding from the bitcoin and blockchain community.
The Board also thanks Peter Lukesch for having served as Chief Executive Officer for the Corporation during the transition phase to become a high tech issuer.
Furthermore, Mr. Boehm will be subject to the Management Cease Trade Order (“MCTO”), effective November 13, 2015 preventing him and the Chief Financial Officer of the Corporation from trading, directly or indirectly, in the securities of the Corporation, which will remain in place until certain inancial documentation will have been filed, in accordance with the provisions of NP 12 203 as reported in the October 30 and November 13, 2015 press releases.
The MCTO does not affect the ability of shareholders who are not insiders of the Corporation to trade their securities.
The Corporation and its management confirm that the amended documentation pursuant to the requirements of National Policy 12-203 has been submitted to the Ontario Securities Commission for review.