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Cease Trade Order Extended Against Dominion Bitcoin Mining Company

Released on May 22, 2014

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) extended the Cease Trade Order against Saskatchewan based Dominion Bitcoin Mining Company Ltd.

The order directs that all trading in securities issued by Dominion cease up to and including August 15, 2014.  The order may be extended as necessary.

Dominion is a federally incorporated company with a registered office in Saskatchewan that purports to be in the business of mining Bitcoin.  FCAA issued the Cease Trade Order against Dominion following what appeared to be solicitations for new investors.  Dominion, however, is not registered to trade in securities in Saskatchewan, which means it may be in violation of securities laws.

“FCAA doesn’t regulate bitcoin or the mining of bitcoin,” FCAA Legal Counsel Dallas Smith said.  “Whether a person pays for a share in Canadian dollars, bitcoins, or other property - Saskatchewan securities laws apply to the sale of shares.  To keep Saskatchewan investors safe, we need to make sure that anyone selling or publicizing the sale of shares in the province complies with the rules.”

Dominion has been notified of the extended order and has the opportunity to respond to the FCAA.

Anyone contacted by Dominion should call the FCAA Securities Division at 306-787-5645.

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For more information, contact:

Daniela Machuca
Financial and Consumer Affairs Authority of Saskat
Regina
Phone: 306-798-4160
Email: daniela.machuca@gov.sk.ca

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