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Toronto, Ontario–(Newsfile Corp. – November 19, 2021) – Canada Computational Unlimited Corp. (TSXV: SATO) (“CCU” or “the Company”) is pleased to announce its financial results for the three and nine months ending September 30, 2021 (“Q3 2021”). All amounts in this news release are unaudited and, unless otherwise indicated, are in Canadian dollars.

Q3 2021 Highlights:

  • Revenue from digital assets mined grew 247% and 150% for the three and nine months ended September 30, 2021 compared to the three and nine months ended September 30, 2020.
  • Revenue from hosting grew 1778% and 668% for the three and nine months ended September 30, 2021 compared to the three and nine months ended September 30, 2020.
  • Gross profit grew 769% and 1771% for the three and nine months ended September 30, 2021 compared to the three and nine months ended September 30, 2020.
  • Completed the reverse takeover of Capricorn Business Acquisitions Inc. and was listed on the TSX Venture Exchange on September 16, 2021 under the symbol SATO.
  • Reimbursed, in advance, loans to related parties thereby retiring substantially the Company’s debt.

“I’m extremely pleased with the results. Buoyed by the price of Bitcoin, we reached record revenues and gross profit as well as greatly improving adjusted EBITDA performance to 35.6% of revenue vs. 16.3% for the same period last year.” commented Mr. Romain Nouzareth, CEO.

Q3 2021 Financial Overview:

For the three and nine months ended September 30, 2021, the Company recorded a net loss of $1,004,354 and $1,162,035 compared to a net loss of $424,504 and $848,483 for the three and nine months ended September 30, 2020. Contributing to the loss for the three and nine months ended September 30, 2021 are one-time listing expense related to charges in the amount of $1,942,221. A summary of the results are as follows:

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104337

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