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Home News Canadian Blockchain Company BitRush Ordered to Stop Trading by Securities Commission

Canadian Blockchain Company BitRush Ordered to Stop Trading by Securities Commission

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.

Richard Kasteleinhttps://www.the-blockchain.com
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, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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