TORONTO, Feb. 02, 2018 (GLOBE NEWSWIRE) -- Routemaster Capital Inc. (TSX-V:RM) (“Routemaster” or the “Company”)
is pleased to provide a business update and summary of recent activities.
Routemaster is an investment issuer with strategic investments in Sulliden Mining, Aberdeen International, Fura
Gems, Trigon Metals, Pacific Rim Cobalt, Desert Lion Energy. It also holds NSR royalties in the Val d’Or region in Quebec and an
NSR on the Sal de los Angeles lithium project in Argentina.
Routemaster’s latest investment is in Pinedale Springs LLC (“Pinedale”), a company that owns and operates a
solar farm cryptocurrency data centre in Cary, North Carolina. As announced on December 14, 2018, the Company signed a letter of
intent to invest US$1.35 million to acquire 49% in Pinedale (the “Transaction”) with the current management set to continue to
build and expand the blockchain cryptocurrency facility. Routemaster will be a minority investor and financial advisor to assist in
the future growth of Pinedale. The Company is currently completing the due diligence process of the transaction and is negotiating
final terms of the definitive agreement. With completion of the transaction, Routemaster will have an investment in a company that
has a “proof of concept” facility to undertake blockchain cryptocurrency mining with significantly lower carbon dioxide emissions
than traditional fossil fuel power generation. Pinedale’s solar-cryptocurrency facilities are currently cash flow positive.
With the global rise of the blockchain industry, Routemaster believes blockchain technology and its applications
will radically transform and shape the future of global business. Routemaster will be looking diligently for investment
opportunities within blockchain technologies and all math‑based technologies and applications, including cryptocurrencies in
various stages, mature blockchain currencies, blockchain start-ups and initial coin offerings (“ICOs”). Routemaster will also have
a focus on investing in companies within the clean energy and renewable energy sectors especially companies with strong
environmental sustainable principles. Routemaster will keep seeking out opportunities in this sector to provide shareholders with
accretive investments.
About Routemaster Capital Inc.:
Routemaster Capital Inc. is a Canadian investment company that carries on business with the objective of
enhancing shareholder value.
For further information please contact
Fred Leigh
President and Chief Executive Officer
Tel: +1 (416) 861-5933
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release contains certain
forward-looking statements, including statements regarding the Transaction and Pinedale, the impact of the Transaction on the
Company, the blockchain/cryptocurrency industry and the sustainability thereof, the ability of Pinedale to execute its business
model, the financial projection of Pinedale’s business, the Company’s ability to identify accretive investments and the Company’s
ability to attract required financing. These statements are subject to a number of risks and uncertainties. Actual results may
differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make
decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue
reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or
written, made by itself or on its behalf, except as required by applicable law.
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.