CleanSpark Inc (CLSK)

[BillyBahama]

On October 2, 2018, CleanSpark, Inc. (the “Company”) executed a Profession Services Agreement (the “Agreement”) with Macerich to perform engineering, design and consultation services and follow-on construction work to install a Microgrid designed by the Company’s engineering team which utilized the Company’s mVSO software in creating the system design. The system will be controlled by the Company’s mPulse controller upon completion. The microgrid will be located at Macerich’s Thousand Oaks facility in California.

The Agreement provides that the Company will be compensated in stages, and each stage requires that Macerich provide written authorization to proceed. The agreement further requires that an additional Design Build Contract be executed for the construction portion of the project. At this time this agreement only specifically authorizes an initial $88,250 for consultation and engineering services, the balance of the $18 million microgrid installation contract falls under later stages. These additional stages require Macerich’s written authorization to proceed with the overall project. The Company expects to receive written permission to proceed on all stages of the contract in a seven week timeline.

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