Canadian Blockchain Company BitRush Ordered to Stop Trading by Securities Commission

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Canadian Blockchain company BitRush, a Toronto-based FinTech company listed at the Canadian Stock Exchange with offices in London and Vienna, has been advised by the Ontario Securities Commission to cease all trading in, and all acquisitions of, securities of the company, whether direct or indirect. 

The order, a copy of which will be made public and available for review on the Canadian Securities Administrators website on Dec. 5, 2016, has been issued as a result of the company not having filed the required chief executive officer and chief financial officer certifications of interim filings, that should have been filed together with the interim financial statements of the company and related management’s discussion and analysis, for the nine months ended Sept. 30, 2016, as required by National Instrument 52-109 (certification of disclosure in issuers’ annual and interim filings).

The company has called a meeting of the board of directors to investigate the matter, and intends to file amended financial statements, MD&A and certifications as soon as possible to obtain the revocation of the cease trade order.

BitRush is a pioneering Canadian fintech company focused on cryptographic Blockchain technology. BitRush has chosen to go to the public markets as a start-up to allow all types of investors, from individuals to institutions, to participate in the potential value appreciation of a fintech company that otherwise would usually have taken place in the private markets accessible only to venture capitals and accredited investors.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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