{"id":14771,"date":"2025-06-18T13:55:03","date_gmt":"2025-06-18T13:55:03","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2025\/06\/18\/bitcoin-well-receives-0-5-million-judgment-against-rapid-cash\/"},"modified":"2025-06-18T13:55:03","modified_gmt":"2025-06-18T13:55:03","slug":"bitcoin-well-receives-0-5-million-judgment-against-rapid-cash","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2025\/06\/18\/bitcoin-well-receives-0-5-million-judgment-against-rapid-cash\/","title":{"rendered":"Bitcoin Well Receives $0.5 Million Judgment Against Rapid Cash"},"content":{"rendered":"<\/p>\n
\n

(TheNewswire) <\/p>\n

\n<\/div>\n

Edmonton, Alberta June 18, 2025 TheNewswire \u2013 Bitcoin Well Inc. (\u2018 Bitcoin Well \u2018 or the \u2018 Company \u2018) ( TSXV: BTCW; OTCQB: BCNWF ), Bitcoin Well Canada Ltd. (\u2018 Bitcoin Well Canada \u2018), a wholly-owned subsidiary of the Company, has received a judgment from the Court of King\u2019s Bench of Alberta against Rapid Cash ATM Ltd. (\u2018 Rapid Cash \u2018 or \u2018 Rapid Cash ATM\u2019 ) in the amount of $541,988.88, plus costs in the amount of $9,988.15.<\/p>\n

On February 1, 2024, Bitcoin Well Canada filed an application in Court of King\u2019s Bench of Alberta File No. 2301-14199 (the \u2018 <\/span> Action <\/span> \u2018) seeking partial summary judgment against Rapid Cash for the return of over $0.5 million withheld by Rapid Cash following termination of the parties\u2019 Hosting Agreement in late 2023 (the \u2018 <\/span> Summary Judgment Application <\/span> \u2018). <\/span><\/p>\n

On February 20, 2025, the Court of King\u2019s Bench released its written Endorsement with respect to the Summary Judgment Application (the \u2018 <\/span> Decision <\/span> \u2018), finding that \u2018it is manifestly unjust to allow Rapid Cash to hold onto Bitcoin Well [Canada]\u2019s money pending adjudication of the damages claims\u2019 and observing that \u2018the wording of the agreement is more consistent with Bitcoin Well [Canada]\u2019s position than with Rapid Cash\u2019s position\u2019. In the result, the Court granted the Summary Judgment Application and ordered Rapid Cash to pay Bitcoin Well Canada the amount of $509,582.11, plus pre-judgment interest in the amount of $32,406.77, for a total judgment of $541,988.88 (the \u2018 <\/span> Judgment <\/span> \u2018 <\/span> ). The Court subsequently ordered Rapid Cash to pay Bitcoin Well Canada costs for the application in the amount of $9,988.15. Full copies of the Court\u2019s Decision can be found <\/span> here <\/span> and the resulting Order can be found <\/span> here <\/span><\/span><\/p>\n

On May 1, 2025, Rapid Cash filed an application (the \u2018 <\/span> Stay Application <\/span> \u2018) seeking to stay enforcement of the Judgment pending Rapid Cash\u2019s ongoing appeal of the Decision, which is currently scheduled for November 5, 2025 (the \u2018 <\/span> Appeal <\/span> \u2018). On June 13, 2025, the Court dismissed Rapid Cash\u2019s Stay Application, such that the Judgment remains in effect. <\/span><\/p>\n

Further, Bitcoin Well intends to vigorously defend the Appeal and pursue the balance of Bitcoin Well Canada\u2019s claims against Rapid Cash, which seek damages for Rapid Cash\u2019s alleged improper termination of the parties\u2019 agreement, and likewise defend Rapid Cash\u2019s counterclaims in the Action. <\/span><\/p>\n

Copies of the decision and other materials filed in the Action are publicly available and may be obtained from the Court of King\u2019s Bench of Alberta. <\/span><\/p>\n

About Bitcoin Well<\/span><\/p>\n

Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission. <\/span><\/p>\n

Join our <\/span> investor community <\/span> and follow us on <\/span> Nostr <\/span> , <\/span> , <\/span> and <\/span> to keep up to date with our business. <\/span><\/p>\n

Bitcoin Well contact information <\/span><\/p>\n

To book a virtual meeting with our Founder & CEO Adam O\u2019Brien please use the following link: <\/span> https:\/\/bitcoinwell.com\/meet-adam <\/span><\/p>\n

For additional investor & media information, please contact: <\/span><\/p>\n

Adam O\u2019Brien <\/span><\/p>\n

Tel: 1 888 711 3866 <\/span><\/p>\n

ir@bitcoinwell.com <\/span><\/p>\n

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release <\/span> . <\/span><\/p>\n

Forward-looking information <\/span><\/p>\n

Certain statements contained in this news release may constitute forward-looking information, which is often, but not always, identified by the use of words such as \u2018anticipate\u2019, \u2018plan\u2019, \u2018estimate\u2019, \u2018expect\u2019, \u2018may\u2019, \u2018will\u2019, \u2018intend\u2019, \u2018should\u2019, or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to, statements in respect of Bitcoin Well\u2019s business plans, strategy and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information including, but not limited to, the risk factors described in Bitcoin Well\u2019s annual information form and management\u2019s discussion and analysis for the year ended December 31, 2024. Forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well\u2019s expectations as of the date hereof and is subject to change. Bitcoin Well disclaims any intention or obligation to revise any forward-looking information, except as required by applicable securities legislation. <\/span><\/p>\n

Copyright (c) 2025 TheNewswire \u2013 All rights reserved. <\/p>\n<\/p>\n<\/div>\n

News Provided by TheNewsWire via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

(TheNewswire) Edmonton, Alberta June 18, 2025 TheNewswire \u2013 Bitcoin Well Inc. (\u2018 Bitcoin Well \u2018 or the \u2018 Company \u2018) ( TSXV: BTCW; OTCQB: BCNWF ), Bitcoin Well Canada Ltd. (\u2018 Bitcoin Well Canada \u2018), a wholly-owned subsidiary of the Company, has received a judgment from the Court of King\u2019s Bench of Alberta against Rapid […]<\/p>\n","protected":false},"author":0,"featured_media":14772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/14771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=14771"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/14771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/14772"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=14771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=14771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=14771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}