SATO Technologies Corp. Announcing Financial Results for Q2 2022 Including Revenue Growth of 66% Compared to Six Months Ended June 30, 2021

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Also asserting Bitcoin Mining Center Two in Québec with 100% renewable vitality.

Toronto, Ontario–(Newsfile Corp. – August 24, 2022) – SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the “Company”, or “SATO”, previously referred to as Canada Computational Unlimited Corp.) is happy to announce that it has filed its Q2 2022 monetary outcomes for June 30, 2022 (“2022”). All quantities on this information launch are in Canadian {dollars}.

SATO can also be happy to announce the beginning of Center Two, with the signing of a lease settlement for 1,800 sq. ft of extra area beginning with 0.5 MW accessible for crypto mining and up to 2 MW+ of renewable vitality accessible for future growth, which can enable the Company to increase its total Bitcoin mining capability.

Q2 – 2022 Highlights

• Total income of $2,021,642 in Q2 2022 which represents development of 18% in contrast to Q1 2022 and 77% when in contrast to the three month interval ended June, 30 2021.
• Steady enhance in revenues although the BTC value went from $US 35,041 to $US 19,785 respectively at June 30, 2021 and 2022.
• Revenue from internet hosting in Q2 2022 grew 1,154% in contrast to Q2 2021
• Gross revenue excluding depreciation was $864,447 (43%) in Q2 2022
• Fair worth of Digital property held at June 30, 2022 was $2,035,385 in contrast to $1,056,570 at June 30, 2021

Center Two Highlights

• 1,800 sq ft, at $2.78 per sq. foot, with the potential for rising the sq. footage;
• Immediate entry to 496kW for Crypto Mining pre-moratorium (HQ A/P 2019-01) and 1.5 MW for conventional computing;
• 100% renewable vitality, with potential for enhance;
• 5-year time period, renewable lease.

As consideration for offering the lease of Center Two, SATO will grant the owner, upon the closing, 520,000 warrants within the capital of the Company (the “Warrants”), topic to acceptance by the TSX Venture Exchange. Each Warrant will probably be exercisable into one widespread share of SATO for a interval of 5 years, at an train value of $0.25.

The above phrases are topic to TSX Venture Exchange approval beneath TSXV Policy 5.1.

“The addition of Center Two to our current 20 MW of Bitcoin mining energy from Center One proves our dedication to rising our hashrate as quick as potential, responsibly. This new heart, within the neighborhood of Center One in Qubec, will probably be an effective way to increase our operations whereas confirming our dedication to utilizing 100% inexperienced vitality to safe the community,” says Romain Nouzareth, CEO and Chairman of SATO. “We are wanting for different locations world wide with sustainable vitality accessible for crypto mining and computing operations. Get in touch!” he added.

On behalf of the board,

Romain Nouzareth,

SATO CEO and Chairman

Consolidated Financial Statements and MD&A

A whole monetary reporting package deal, together with the Consolidated Financial Statements and Notes and MD&A, is offered on SEDAR at www.sedar.com beneath SATO’s profile and on the Company’s web site at https://bysato.com/.

About SATO
SATO operates a state-of-the-art, carbon-neutral bitcoin mining heart with a contract of 20 MW of steady, eco-friendly vitality. The firm’s high-density calculation facilities are constructed for high-grade cryptocurrency mining, AI, Data processing, and fintech infrastructure.

Founded at block 494673 in 2017, SATO is led by expertise entrepreneurs, finance, electrical energy and air flow consultants, community specialists, and Canadian industrialists. Since its inception, the corporate has pursued a imaginative and prescient of environmental stewardship all through the mining course of. The extra provide of renewable vitality within the province of Québec has made this endeavor possible and a terrific base for development.

For extra data, please contact:

Romain Nouzareth

[email protected]

https://bysato.com

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 information launch incorporates sure forward-looking statements, together with statements relating to the longer term efficiency of the Company, and different statements that aren’t historic info. Wherever potential, phrases corresponding to “might”, “will”, “ought to”, “may”, “count on”, “plan”, “intend”, “anticipate”, “consider”, “estimate”, “predict” or “potential” or the unfavorable or different variations of these phrases, or related phrases or phrases, have been used to determine these forward-looking statements. These statements mirror administration’s present beliefs and are based mostly on data at the moment accessible to administration as of the date hereof.

Forward-looking statements contain important dangers, uncertainties, and assumptions. Many elements may trigger precise outcomes, efficiency, or achievements to differ materially from the outcomes mentioned or implied within the forward-looking statements. These elements needs to be thought-about fastidiously, and readers mustn’t place undue reliance on the forward-looking statements. Although the forward-looking statements contained on this press launch are based mostly upon what administration believes to be affordable assumptions, the Company can’t guarantee readers that precise outcomes will probably be per these forward-looking statements. These forward-looking statements are made as of the date of this press launch, and the Company assumes no obligation to replace or revise them to mirror new occasions or circumstances, besides as required by regulation.

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/release/134655