TORONTO, Sept. 28, 2018 (GLOBE NEWSWIRE) -- Hut 8 Mining Corp. (“Hut 8” or the “Company”) (TSXV: HUT) (OTCQX: HUTMF), one of the world’s largest public cryptocurrency mining companies by operating capacity, is pleased to announce that it has retained Integral Wealth Securities Limited ("Integral") to provide market making services in accordance with TSX Venture Exchange ("TSXV") policies. Integral will trade securities of Hut 8 on the TSXV for the purpose of maintaining an orderly market for Hut 8's securities.
In consideration of the services provided by Integral, Hut 8 will pay Integral a monthly cash fee of $6,000. Integral will not receive any shares or options as compensation. The agreement has an initial term of 12 months subject to the rights of Hut 8 to terminate after 3 months on 7 days prior written notice. Following the 12-month anniversary of the agreement, Hut 8 may terminate the agreement at any time on 30 days prior written notice.
Integral and its clients may have or may acquire a direct interest in the securities of Hut 8. Hut 8 and Integral are unrelated and unaffiliated entities. Integral is a member of the Investment Industry Regulatory Organization of Canada ("IIROC") and can access all Canadian Stock Exchange and Alternative Trading Systems. The capital and securities required for any trades undertaken by Integral as principal will be provided by Integral.
Pursuant to its continuous disclosure obligations, Hut 8 is also announcing the grant of 90,000 stock options under the Company’s Omnibus Long-Term Incentive Plan (the “Option Plan”) to its Chief Financial officer, Jimmy Vaiopoulos, at an exercise price of C$3.00 per share, which options shall vest in accordance with the Option Plan and the policies of the TSXV. The options grant remains subject to the approval of the TSXV.
In addition, the Company confirms that the TSXV has granted final approval for the issuance of 2,222,222 common share purchase warrants of the Company (the “Warrants”) to Galaxy Digital Lending LLC (“Galaxy”) at an exercise of C$4.50 and an expiry term of five years. The Warrants were issued in connection with the previously announced US$16,000,000 loan financing entered into with Galaxy, which the Company wishes to confirm was subject to an applicable interest rate of LIBOR + 10%.
ABOUT HUT 8 MINING CORP.
Hut 8 Mining Corp., headquartered in Toronto, Canada, is a cryptocurrency mining and blockchain infrastructure company established through an exclusive arrangement with the Bitfury Group, the world’s leading full-service blockchain technology company. Through the Bitfury Group, Hut 8 has access to a world-leading proprietary mix of hardware, software and operational expertise to construct, optimize and manage datacentres in low-cost and attractive jurisdictions. Hut 8 is led by a team of industry experts and intends to provide investors with exposure to blockchain processing infrastructure and technology along with underlying cryptocurrency rewards and transaction fees.
Hut 8 provides investors with direct exposure to bitcoin without the technical complexity or constraints of purchasing the underlying cryptocurrency. Investors avoid the need to create online wallets, wire money offshore and safely store their bitcoins. Hut 8 provides a secure and simple way to invest.
Key investment highlights and FAQ’s: https://www.hut8mining.com/investors.
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Hut 8 Corporate Contact:
Andrew Kiguel
President and Chief Executive Officer
Tel: (647) 256-1992
E-mail: ak@hut8mining.com
Hut 8 Media Contact:
Talk Shop Media
Natalie Davidson
Tel: (778) 955-8012
E-mail: natalied@talkshopmedia.com
Hut 8 Investor Contact:
George Aizpurua
VP, Communications
Tel: (416) 742-5600
E-mail: gaizpurua@firstcanadiancapital.com
FORWARD-LOOKING STATEMENTS
Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology, such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Hut 8 as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Filing Statement dated March 1, 2018 relating to the Qualifying Transaction of Oriana Resources Corporation and Hut 8, which is available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Hut 8; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and Hut 8 expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.