SATO Unveils Rebrand with Launch of New Name and Website
Responsible Bitcoin Miner CCU honors Satoshi Nakamoto changes name to SATO Technologies to coincide with existing ticker SATO
Toronto, Ontario--(Newsfile Corp. - June 13, 2022) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) ("SATO" or "the Company") (previously Canada Computational Unlimited Corp.) rolls out its new brand and website to better express its commitment to responsible Bitcoin mining. SATO's new image will be closer aligned with its mission to lead with full transparency and to cultivate community through the development of blockchain applications, particularly on the Bitcoin Blockchain and the Lightning Network.
The new site is accessible at: https://www.bysato.com
"This rebrand emulates the company's growth with a more distinctive and approachable look while paying homage to Satoshi Nakamoto. A strong company is always evolving, therefore SATO's team is continually developing its responsible and highly effective Bitcoin mining business while innovating on the Bitcoin Blockchain and the Lightning Network, which gives us a competitive advantage," commented Romain Nouzareth, Co-Founder, Chairman & CEO.
As approved at the Company's Annual and Special Meeting on May 31, 2022, the Company has filed articles of amendment to effect the change of its name to SATO Technologies Corp. The Company expects the shares to commence trading under the new name on the TSX Venture Exchange on or around June 16, 2022. The Company's symbol will remain "SATO". A new CUSIP number has been issued, and Shareholders are not required to take any action with respect to the name change.
SATO's focus is to expand its responsible Bitcoin Mining operations globally. The Company is also in the process of launching new projects built on the Bitcoin Blockchain and the Lightning Network. Project X at SATO is a group of users innovating and building the future with Bitcoin at its core, participants will be able to privately test new products prior to public launch. Interested parties are invited to join the SATO project X.
SATO operates a state-of-the-art, carbon-neutral bitcoin mining center with a contract of 20 MW of stable, renewable energy from Joliette, Québec. The Company's high-density calculation centers are built for high-grade cryptocurrency mining, AI data processing, and fintech infrastructure.
Founded in 2017, SATO is led by technology entrepreneurs, electricity and ventilation experts, network specialists, and Canadian industrialists. Since its inception, the company has pursued a vision of environmental stewardship throughout the mining process. The excess supply of renewable energy in the province of Québec has made this endeavor feasible and a great base for growth. Additional information can be found at www.bysato.com.
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Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements, including statements relating to the future performance of the Company, and other statements that are not historical facts. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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