Digihost Postpones Reporting Due to Delays Caused by COVID-19 Pandemic
04/24/2020 | 07:31am EDT
VANCOUVER, British Columbia, April 24, 2020 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI) announces that it is postponing the reporting of Digihost International, Inc. (“Old Digihost”) audited financial statements for the twelve months ended December 31, 2019 as a result of delays caused by the COVID-19 pandemic.
In accordance with the completion of the reverse takeover transaction between Old Digihost and HashChain Technology Inc. (“HashChain”) which closed on February 14, 2020 (the “RTO Transaction”), audited financial statements for Old Digihost were scheduled to be filed on April 30, 2020. In connection with the closing of the RTO Transaction, the Company appointed Clearhouse LLP, the auditor of Old Digihost, as auditor of the Company. The Company aims to file these documents by mid June under the terms of the 45-day extension announced by the British Columbia Securities Commission under “BCI 51-515”, dated March 23, 2020.
Recent global events pertaining to COVID-19 has impacted the Company’s ability to rely on timely information for its financial reporting obligations. Ensuring a safe and healthy working environment for our workforce is a primary focus for Digihost and we continue to implement and enforce additional precautionary health and safety measures.
The Company ratifies that management and the Company’s insiders remain subject to the Company’s Insider Trading Policy and confirms that there have been no material business developments since January 2020 when the interim financial results and management discussion and analysis for HashChain were filed, other than the completion of the RTO Transaction and as otherwise announced.
About Digihost Technology Inc.
Digihost Technology Inc. is a growth oriented blockchain company. As the result of recent equipment purchases the Company has significantly increased its hashrate from 159PH to 208PH, an increase of 31%. The Company’s operating facility is located in Buffalo, New York, with over 70,000 square feet and a 115,000 KVA outdoor substation under a five-year lease and an option to lease additional facility space totalling 240,000 square feet after 3 years. The Company focuses on validation through mining, hosting solutions and blockchain software solutions.
For further information, please contact:
Digihost International, Inc.
Angie Ihler, Media Inquiries
Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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.
Forward-Looking Statements This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Digihost and its investee companies to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Digihost believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking information. Digihost does not undertake to update any forward-looking information except in accordance with applicable securities laws.