Blockchain Press Releases

Converge Announces Renewal of Normal Course Issuer Bid

Published

1 year ago

August 9, 2023

TORONTO, Aug. 9, 2023 /PRNewswire/ — Converge Technology Solutions Corp. (“Converge” or the “Company“) (TSX: CTS) (FSE: 0ZB) (OTCQX: CTSDF) announces that the Toronto Stock Exchange (the “TSX“) has approved the Company’s Notice of Intention to Make a Normal Course Issuer Bid (the “NCIB“). Pursuant to the NCIB, Converge may purchase for cancellation up to an aggregate of 19,427,276 common shares (the “Common Shares“) representing approximately 10% of Converge’s public float of Common Shares as at July 28, 2023. The NCIB will commence on August 11, 2023 and terminate one year after its commencement, or earlier if the maximum number of Common Shares under the NCIB have been purchased or the NCIB is terminated at the option of the Company.

The Company and its Board of Directors believes that, from time to time, the market prices of the Common Shares may not fully reflect the underlying value of the Company’s business and its future business prospects and accordingly, the NCIB is in the best interests of the Company and constitutes a desirable use of its funds.

Purchases of Common Shares under the NCIB will be made on the open market through the facilities of the TSX and/or permitted alternative Canadian trading systems. The price paid for the Common Shares will be at prevailing market prices in accordance with the applicable rules and policies of the TSX and applicable securities laws. All Common Shares acquired by the Company under the NCIB will be cancelled.

Additionally, the Company intends to enter into an automatic share purchase plan agreement (the “ASPP“) with Canaccord Genuity Corp. (“Canaccord” or “the Broker“) to facilitate the repurchase of Common Shares. Pursuant to the ASPP, Canaccord may purchase Common Shares under the NCIB at times when the Company would ordinarily not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Trading limits and other parameters for automatic purchases of the Common Shares under the ASPP will be determined between the Company and the Broker in accordance with the rules and policies of the TSX, applicable securities laws and the terms of the ASPP. Outside of these blackout periods, the Company may purchase Common Shares at its discretion under the NCIB.

Under the NCIB, other than purchases made under a block purchase exemption pursuant to the rules and policies of the TSX, Converge may not purchase more than 257,059 of the issued and outstanding Common Shares on the TSX during any trading day, which represents approximately 25% of the average daily trading volume of 1,028,239 Common Shares of the Company for the most recently completed six calendar months preceding July 31, 2023.

Under its previous normal course issuer bid approved by the TSX on August 8, 2022, the number of Common Shares that could be repurchased for cancellation was 10,744,818 Common Shares. Converge completed the purchase for cancellation through the facilities of the TSX, and through alternative trading systems, of 10,744,818 Common Shares at a weighted average price of $5.05 per Common Share.

About Converge

Converge Technology Solutions Corp. is a services-led, software-enabled, IT & Cloud Solutions provider focused on delivering industry-leading solutions. Converge’s global approach delivers advanced analytics, application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.

Forward-Looking Information

Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to the timing and amount of potential purchases and the cancellation of Common Shares under the NCIB and the ASPP. Forward-looking statements are necessarily based upon various assumptions that, while the Company considers 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. Except as required by law, Converge assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change. The reader is cautioned not to place undue reliance on forward-looking statements.

For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s filings available on SEDAR under the Company’s profile at www.sedar.com including its most recent Annual Information Form, its Management Discussion and Analysis and its Annual and Quarterly Financial Statements.

The TSX has not reviewed the information provided under this press release and does not accept responsibility for the adequacy or accuracy of this release.

CONTACTS : Converge Technology Solutions Corp., Email: [email protected], Phone: 416-360-1495

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Blockchain Press Releases

Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion

Published

3 days ago

December 20, 2024

CISION (PR Newswire)

compass-mining-scales-texas-operations-with-25-mw-bitcoin-mining-facility,-plans-further-expansion

Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025

WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.

The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.

“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”

Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.

About Compass Mining

Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.

Media Contact

BlocksBridge Consulting
[email protected]

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Blockchain Press Releases

Surprises Guaranteed: Bybit Card Dishes Out Rewards in Holiday Giveaway

Published

3 days ago

December 20, 2024

CISION (PR Newswire)

DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.

For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.

For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.

“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.

The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:

Up to 10% cashback in USDT, BTC and ETH on eligible purchases
Zero fees for instant virtual card issuance
Zero annual or hidden fees
Up to 8% APY

Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!

#Bybit / #TheCryptoArk #theBybitCard

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa

Published

3 days ago

December 20, 2024

CISION (PR Newswire)

bybit-p2p-unlocks-20,000-usdt-prize-pools-for-select-users-in-south-asia-and-africa

DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.

From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:

South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
Africa: Eligible users may register to enter the P2P Prize Spinner

Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.

As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.

Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.

Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.

#Bybit / #TheCryptoArk

About Bybit

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media

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