Carrus Closes Non-Brokered Private Placement and A

VANCOUVER, British Columbia, Sept. 25, 2017 (GLOBE NEWSWIRE) -- Carrus Capital Corporation (the “Company” or “Carrus”) announces that further to its news release dated August 30, 2017, the Company has raised gross proceeds of $8,000,000 through the distribution of 26,666,666 special warrants (“Special Warrants”) of the Company at a price of $0.30 per Special Warrant.

Each Special Warrant entitles the holder to receive, without payment of any additional consideration or need for further action, one unit (“Unit”) of the Company.  Each Unit comprising of one common share (“Share”) and one share purchase warrant (“Warrant”).  Each Warrant entitles the holder to acquire one additional Share at $0.40 on or before September 25, 2019.

The Special Warrants will convert to Units on the earlier of: (i) four months and a day after closing of the placement; and (ii) the receipt of a final prospectus qualifying the Shares and underlying Warrants.

Finders’ fees of 2,666,666 Special Warrants (the “Finder Warrant”) and $800,000 were paid in connection with this financing.  Each Finder Warrant entitles the holder thereof to purchase one Unit.  Each Unit comprising of one common share (“Share”) and one share purchase warrant (“Warrant”).  Each Warrant entitles the holder to acquire one additional Share at $0.40 on or before September 25, 2019.

As disclosed in the news release dated Aug. 16, 2017 and Aug. 30, 2017, the net proceeds of the offering, together with the company's current investment capital, will be used by the company to explore investment opportunities in a variety of technologies related to alternative emerging asset classes, specifically the blockchain and digital currencies. No transactions have been consummated to date.

The company intends to augment its personnel with the addition of experts in these areas including the formation of an advisory board to assist in its review of future transactions in this sector.

The Company also wishes to announce the appointment of Theo van der Linde to the Board of Directors.  Mr. van der Linde is Chartered Accountant with 20 years’ extensive experience in finance, reporting, regulatory requirements, public company administration, equity markets and financing of publicly traded companies.  He has served as a CFO & Director for a number of TSX Venture Exchange and Canadian Securities Exchange (CSE) listed companies over the past several years. Industry experience includes financial services, manufacturing, oil & gas, mining and retail industries. More recently, Mr. van der Linde has been involved with future use trends of natural resources as well as other disruptive technologies.  He has worked and is currently working on projects in South Africa, West-Africa, East-Africa, Peru, United Kingdom, Sri-Lanka, the United States and Norway.

The Company has accepted the resignation of Troy Grant as Director effective September 25, 2017.  The Board of Directors wishes to express its gratitude to Mr. Grant for his contributions to the Company and to wish him well with his future endeavours.

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.

On behalf of:

CARRUS CAPITAL CORPORATION

Chester Shynkaryk

Chester Shynkaryk
Chief Executive Officer
Phone: 604-722-9140