Matribhumi Samachar English
Vancouver, British Columbia–(Newsfile Corp. – March 28, 2025) – Sweet Poison Spirits Inc. (CSE: SPS) (the “Company” or “Sweet Poison”) announces that it intends to change its name from “Sweet Poison Spirits Inc.” to “Hyper Bit Technologies Ltd.” In conjunction with the proposed name change, the Company has reserved the trading symbol “HYPE” with the Canadian Securities Exchange (“CSE”) and is completing the steps required under CSE’s Policy 9.1, which includes obtaining a new CUSIP number.
The name change will not involve a consolidation or change in the share capital of the Company and shareholders will not be required to exchange their existing share certificates for new certificates bearing the new company name. Once the name change is completed, Company shares held electronically in Direct Registration System will be booked automatically.
Corporate Update
In February 2022, the Company announced the purchase of 150 SC200 Siacoin miners for US$525,000 to launch its cryptocurrency operations with a view to create cashflow and grow the business. This resulted in a Change of Business (“COB”) which was approved by the Company’s shareholders and the Exchange in June 2022. It was the Company’s intention to convert Siacoins mined to Bitcoins (“BTC”) and hold the BTC as inventory accordingly, after paying expenses.
The Company entered into an agreement to operate the rigs with a third party; however, the cryptocurrency market experienced a significant downturn of over 70% from November 2021 to November 2022 whereby it was not profitable to place the SC200 rigs into production. While the current cryptocurrency market appears very buoyant for major cryptocurrencies such as BTC and Ethereum, Siacoins have not experienced a significant increase from its lows in 2022 and, therefore, remain unprofitable based on available electricity costs. The rigs are being held in storage in Buffalo, New York for quick access when activated.
Since 2022, the Company continued to look for opportunities which could be enhanced and/or supported by future cryptocurrency operations cash flows. In December 2022, the Company announced a product distribution agreement with Sweet Poison Spirits S de RL de CV, a Mexican company headquartered in Guadalajara, Mexico and Sweet Poison Spirits LLC, a California limited liability corporation headquartered in San Diego, California (collectively, “Sweet Poison”). The Distribution Agreement granted the Company the worldwide distribution rights to Sweet Poison’s premium Tequila and Mezcal products under the “Sweet Poison” brand names for an initial period of ten years, renewable for a further ten years and beyond. The Company saw an opportunity to combine this business with the cryptocurrency market by providing payment structures using cryptocurrency-based methods for retail and wholesale customers and using this as a form of promotion for the brand. In this respect, plans were formed to build a brand on the digital age. The Company changed its name to Sweet Poison Spirits Inc. as a result and began trading under the symbol “SPS” on the Exchange.
In November 2023, however, the agreements with Sweet Poison were terminated by the Company due to the inability to achieve certain milestones in light of a weakened market for this business. All shares issued pursuant to the agreements were returned and cancelled and the ultimate cost of this venture was minimized.
In March of 2025, the Company announced a financing of $450,000 for the restart of the Cryptocurrency operations, including the purchase of up to an additional ten (10) ultra efficient Goldshell AE-BOX II (“Goldshell”) ASIC miners, designed for zkSNARK algorithm from Goodwin Ventures Corp. to be focused on mining the ALEO token. Within the funds raised are sufficient funds to operate the next 12 months while also acquiring additional Goldshell rigs (or other types of rigs) as well as funds to place the 150 SC200 rigs into operation if the Company is able to find a suitable site with lower operating costs. The Company expects to engage in further future financings as the opportunities to acquire profitable rigs arise.
Given the rise in main cryptocurrencies over the past year, the Company believes the timing is right to build upon its cryptocurrency operations again and will focus all of its efforts accordingly. Most recently, the Company announced the appointment of Brian Gusko to the Board of Directors. Mr. Gusko sat on the Board of Directors of the world’s first cryptocurrency-focused company on a regulated stock exchange, and which owned under its umbrella cryptocurrency exchanges, crypto mining operations, crypto ATMs and more. Mr. Gusko has extensive experience in listed public companies and the related markets in North America and Europe to assist in achieving the Company’s goals.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, included herein, including, without limitation, management’s expectations and the potential of the Company’s projects, are forward looking statements. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company’s management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company assumes no obligation to update forward‐looking statements or beliefs, opinions, projections or other factors, except as required by law.
Featured Article
