(via TheNewswire)
TheProposed Transaction and matters related thereon will be submitted to shareholders of the Company at an annual general and special meeting of its shareholders (the "Meeting").The upcoming Meeting will be held on
Management of the Company anticipates that the completion of the Proposed Transaction would provide a number of benefits to
- reduced costs of cryptocurrency mining through the vertical integration of
- release from accrued liabilities owing to Bit.
- increased access to capital as a result of the minimum
"The proposed transaction with
Upon completion of the Proposed Transaction, the mining operation will have 12,895 Bitcoin mining rigs with the ability to expand to 17.5 MW of computing power with electricity at an average all-incost of
Conditions to Completion of the Proposed Transaction and Regulatory Matters
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Additional Information
For further information, please contact:
T: 607-760-7870
T: 917-242-6549
Cautionary Statements:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the review and approval of future investor presentations, the completion and terms and conditions of the Proposed Transaction, the HashChain Meeting, the go-forward management of the resulting issuer and the trading of the resulting issuer shares, the anticipated benefits of the Proposed Transaction and the development of the resulting issuer's business and operations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law,
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way passed upon the merits of the Proposed Transaction and associated transactions and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Copyright (c) 2019 TheNewswire - All rights reserved.
Copyright (c) 2019 TheNewswire - All rights reserved., source