CryptoStar Corp. Announces Board Appointments and Resignations

TSXV: CSTR

TORONTO, Aug. 14, 2020 /CNW/ - CryptoStar Corp. (TSXV: CSTR) ("CryptoStar" or the "Company"), a cryptocurrency mining and data centre operator, is pleased to announce the appointment of Messrs. Warren Lorenz and Aly Madhavji to the Company's Board of Directors.

Mr. Lorenz is the Managing Principal of TechMeetsTrader and a Venture Partner at Blockchain Founders Fund, which invests in and venture builds top-tier startups. He is a Limited Partner at Weave Markets, a Digital Asset Hedge Fund and previous Managing Director of Trading Operations at Amplify Exchange.

Mr. Madhavji is the Managing Partner at Blockchain Founders. He consults leading organizations such as the United Nations on emerging technologies. Mr. Madhavji is an Limited Partner at Loyal VC, an award-winning author, a Senior Blockhain Fellow at INSEAD, and recognized as a "Blockchain 100" Global Leader by Lattice80.

David Jellins, President and Chief Executive Officer of CryptoStar states, "We are very pleased to welcome Warren and Aly to the Company's Board. Their expertise and advisory experience in the cryptocurrency and blockchain spaces will greatly assist CryptoStar in advancing its current business objectives as well as rounding out the expertise of the Board."

In connection with the appointments of Messrs. Lorenz and Madhavji, the Company also announces the resignation from the Board of Brendan Cahill, Adam Kline and James Merkur. The Company thanks Messrs. Cahill, Kline and Merkur for their service and wishes them the best in their future endeavours.

Concurrent with the appointments of Messrs. Lorenz and Madhavji, the Company has granted each 600,000 incentive stock options. Each stock option will allow the holder thereof to purchase a common share of CryptoStar at a price of $0.05, with an expiry of ten years.

About CryptoStar Corp.:

CryptoStar has cryptocurrency mining operations with data centres located in the U.S.A. and Canada. CryptoStar is currently dedicated to becoming one of the lowest cost Bitcoin producers in North America.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE CryptoStar Corp.

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