Taal new name for Squire Mining, share consolidation results

One of the world’s largest public blockchain companies has finalized a name change. In a press release updating the status of a share consolidation, Squire Mining Ltd. has announced that effective December 11, 2019, it will be known as Taal Distributed Information Technologies Inc..

The mining giant announced it has registered with the Canadian Securities Exchange (CSE) to reserve a new stock symbol, “TAAL.” The company expects to begin trading under that symbol on the CSE on December 16, 2019.

They’ve also gone through a complete rebranding. The company has a new sharp logo and a revamped website at www.taal.com.

Taal also updated the status of its share consolidation, noting it has completed the process for all outstanding common shares “on the basis of one (1) post-consolidation Common Share for each ten (10) pre-consolidation Common Shares (the ‘Consolidation’).” They also note that for investors interested in further information about the Consolidation, to check the company’s profile on SEDAR.

The decision to rename the company to Taal has been coming since at least September 2019. At that time, Squire agreed to buy out three other companies to cement its place as one of the largest publically traded blockchain companies in the world. At the same time, they announced they would pursue the name change to Taal once the deal is fully completed.

The name wasn’t hard to find though. Going back to June 2019, the company has frequently referred to a Taal Tech wholly-owned subsidiary, which would enter into large cloud computing agreements with other organizations.

The company is gearing up for a big year ahead. It recently announced the successful test of the 0.2.2 Bitcoin SV (BSV) node, with 35 blocks processed. As BSV gets closer to its February 4, 2020, Genesis hard fork, Taal’s support will guarantee a smooth transition into a future of limitlessly scaling Bitcoin.