Bitrush Corp. Announces Sale of Adbit Platform ACCESSWIRE
BitRush or the
Company ) is pleased to announce that it has sold its AdBit ad brokerage platform to an arm s length third party (the
Buyer ) for the sum of $1.00 and the assumption by the Buyer of certain liabilities. The AdBit platform has been dormant for some time and is effectively obsolete in its current format. Accordingly, management concluded that it would not expend its own resources to reactivate and further develop the platform and that it would be beneficial to the Company to have a third party with the dedicated resources and knowledge to operate and develop the platform while retaining a potential economic interest therein and disposing of associated liabilities in the operation of the platform. Pursuant to the Asset Purchase Agreement dated December 31, 2020 entered into between the parties, the Company will receive, as additional consideration for the sale of the AdBit platform, 25% of all mont