SATO Technologies Corp. Signs a Loan Agreement with Sygnum Bank AG for CHF3,000,000 (CAD$4,000,000 Equivalent) for Financing Bitcoin Mining Equipment

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 Technologies Corp. is the first recipient of our new green crypto financing solution, which aims to support green-mining and accelerates the industry’s transition towards a carbon-neutral economy. We are happy to support SATO Technologies Corp. in their comprehensive innovation process to create value and improvement through providing sustainable and responsible mining.”

On behalf of the board,

Romain Nouzareth,
SATO CEO and Chairman

About SATO
SATO operates a state-of-the-art, carbon-neutral bitcoin mining center with a contract of 20 MW of stable, eco-friendly energy. The company’s high-density calculation centers are built for high-grade cryptocurrency mining, AI data processing, and fintech infrastructure.

Founded at block 494673 in 2017, SATO is led by technology entrepreneurs, finance, 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.

For additional information, please contact:

Romain Nouzareth
[email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain…