Toronto, Ontario--(Newsfile Corp. - July 15, 2022) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO", formerly known as Canada Computational Unlimited Corp.) is pleased to announce the signing of a loan agreement through its wholly-owned subsidiary, Canada Computational Unlimited Inc. ("CCU"), with Sygnum Bank AG ("Sygnum'') which will allow the Company to finance an initial purchase of up to CHF3,000,000 (CAD$4,000,000 equivalent) worth of miners or equivalent.
Key Highlights of the agreement
Acquisition of mining equipment already on site;
Increase of self-mining;
8% interest rate per annum;
Repayable over 3 year term;
HODL vision has been maintained without any sale of the BTC mined since the beginning of 2022.
Sygnum has made a non-binding indication to the Company that, depending on market conditions, it is willing to discuss additional equipment financing in tranches that could in the aggregate reach CHF20,000,000 (CAD$26,700,000 equivalent) in principal over time.
Romain Nouzareth, CEO and Chairman of SATO, commented, "There is never a better time to grow than in a bear market. With Sygnum Bank as our lending provider and new mining rigs coming for Center One, we are now producing Bitcoin at a higher speed. This agreement brings us closer to full capacity for self-mining at a highly competitive interest rate in the Mining Financing world."
Sygnum's Head of Credit & Lending, Francisco Arruda, commented, "We are pleased that SATO...
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