It is expected that trading of the Company's common shares on The Nasdaq Global Select Market ('Nasdaq') will begin on or about
Each Offered Unit will consist of one common share in the capital of the Company (each a 'Common Share') and one-half of one Common Share purchase warrant (each a 'Warrant'). Each Warrant is exercisable to acquire one Common Share (a 'Warrant Share') at an exercise price of
In addition, Hut 8 has agreed to grant to the Underwriters an over-allotment option (the 'Over-Allotment Option') exercisable, in whole or in part, at the sole discretion of the Underwriters, to purchase up to an additional 3.0 million Offered Units at the Issue Price for a period of up to 30 days after the closing of the Offering, for potential additional gross proceeds to Hut 8 of up to
The net proceeds of the Offering are anticipated to be used by the Company: (i) to fund expansion of digital mining sites; (ii) to expand the Company's available power capacity; (iii) to fund new commitments to purchase additional digital mining equipment; (iv) to fund potential strategic partnerships, joint ventures or acquisitions and (v) for general corporate purposes and working capital.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX.
The Offering is being made by way of a preliminary prospectus supplement dated
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon by the accuracy or adequacy of the Prospectus Supplement, the Base Shelf Prospectus or the Registration Statement.
About
Hut 8 is one of
Cautionary Statement Regarding Forward-Looking Statements
This release contains certain 'forward looking statements' and certain 'forward-looking information' as defined under applicable Canadian and
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 Company's Prospectus Supplement. 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.
Contact:
Tel: 204-583-1695
Email: dea.masottipayne@northstrategic.com
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