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Hut 8 Mining Corp. Announces CAD$77.5 Million Private Placement with Institutional Investors

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Toronto, Ontario–(Newsfile Corp. – January 11, 2021) – Hut 8 Mining Corp. (TSX: HUT) (the “Company“) is pleased to announce that it has entered into a securities purchase agreement for a private placement of its common shares (“Common Shares“) and warrants to purchase common shares (“Warrants“) to institutional investors for gross proceeds of CAD$77,500,000 (the “Private Placement“). Pursuant to the Private Placement, the Company will issue 15,500,000 Common Shares and Warrants to purchase up to 7,750,000 Common Shares at a purchase price of CAD$5.00 per Common Share and associated Warrant. Each Warrant will entitle the holder to purchase one Common Share at an exercise price of CAD$6.25 per Common Share at any time prior to the second anniversary of the issuance date.

The net proceeds of the Private Placement will be used by the Company for working capital and general corporate purposes, including, without limitation, infrastructure expansion, equipment purchases and repayment of debt.

The Company has applied to list the Common Shares issued in the Private Placement and the Common Shares underlying the Warrants on the Toronto Stock Exchange (“TSX“). The Private Placement is expected to close on or about January 13, 2021, subject to satisfaction of customary closing conditions, including receipt of conditional approval by the TSX for the Private Placement.

“Hut 8 is pleased to have been able to raise such a significant amount of capital from new U.S. institutional investors and is excited for its continued growth,” said Jaime Leverton, Chief Executive Officer of the Company.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the Private Placement in the United States.

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This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. The securities covered being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

About the Company

Hut 8 is a bitcoin mining company with industrial scale operations in Canada. Hut 8 creates value for investors through low production costs and appreciation of its bitcoin inventory. The Company 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 bitcoin. The Company’s Common Shares are listed under the symbol “HUT” on the TSX and under the symbol “HUTMF” on the OTCQX Exchange.

Cautionary Note Regarding Forward‐Looking Information

This news release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information“). All information, other than statements of historical facts, included in this news release that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the Company’s businesses, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes, among others, information regarding: the Company’s intention to complete the Private Placement and the expected use of proceeds of the Private Placement.

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Forward-looking information is not based on historical facts but instead is based on reasonable assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, market and other conditions, risks relating to investing in the Private Placement; discretion in the use of proceeds; the ability to raise additional funds; there being no current market for the Warrants; investing in the Company’s securities being speculative; volatility of the market price for the Common Shares generally; risk of dilution; changes in the price of bitcoin and other cryptocurrency risks; market instability due to the COVID-19 pandemic; the Company’s reliance on a limited number of key employees; and fluctuations in energy prices as well as the risk factors described in the Company’s annual information form dated April 3, 2020 and other filings with the Canadian securities regulators available under the Company’s profile on SEDAR at www.sedar.com.

HUT 8 CORPORATE CONTACT:
Jaime Leverton
Chief Executive Officer
Tel: 647-521-7433
Email: [email protected]

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES/

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

The GAM3 Awards 2024 Winners Announced

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The winners of the GAM3 Awards 2024 have been crowned! The 21 champions were revealed at a live event presented in partnership with Yield Guild Games (YGG) on November 22nd, marking a well-deserved close to the year and celebration of how far the web3 gaming industry has come.

Following an extremely close competition between the top games, creators, and ecosystems in the industry, our GAM3 Awards victors were revealed during the 2-hour in-person event in Manila and across all major live-streaming platforms. Each game, content creator, and ecosystem managed to top their category to stand out amongst their peers based on their tremendous progress made over the past 12 months.

The 2024 Winners

Here is the full list of winners:

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  • Best Fighting Game: Champions Ascension
  • Best Art Direction: Moonfrost
  • Best Browser: Pirate Nation
  • Best Mobile Game: Fableborne
  • Best RPG: Big Time
  • Best Strategy Game: Parallel
  • Best Action Game: Off the Grid
  • Best Casual Game: Pixels
  • Best Sports Game: Sparkball
  • Best Adventure Game: Ravenquest
  • Best Card Game: Parallel
  • Best Shooter Game: Off the Grid
  • Best Content Creator: YellowPanther
  • Best On-Chain Game: Pirate Nation
  • Best Ecosystem: Ronin
  • Games’ Choice: Wildcard
  • Best Esports Game: Parallel
  • Best Multiplayer Game: Off the Grid
  • People’s Choice: Pixels
  • Most Anticipated Game: MapleStory Universe
  • Game of the Year: Off the Grid

Prizes and Partners

Among the exciting updates for our 2024 GAM3 Awards was the increased $5 million prize pool, which consisted of grants, products, services, marketing, and blockchain support from partners such as AWS, XAI, Thirdweb, Aethir, and Community Gaming among others to help finalists and winners grow even further.

This represented a substantial increase from previous years and underscored our event’s commitment to supporting and fostering the next generation of web3 games. In addition to YGG, we also partnered with Arbitrum, Magic Eden, Immutable, Avalanche, and Skale to make this year’s event even bigger and better than previous years.

Jury and Voting

This year’s jury featured over 70 prominent traditional and blockchain gaming figures, with many returning jurors from previous ceremonies. The diverse panel included representatives from powerhouses such as Amazon, Google, Samsung, Ubisoft, Animoca Brands, Immutable, Arbitrum, Blockchain Game Alliance (BGA), Base, Ronin, and Avalanche, as well as content creators and major media outlets such as VentureBeat.

Much like previous years, the voting process saw the jury’s votes represent 90% of the final decision, with the community making up the remaining 10% for most categories except People’s Choice and Best Content Creator, which were both 100% community voting-based, and Games’ Choice, which is based on shortlisted game studios voting for their favorite title game.

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Community voting played a role in deciding the final decisions with over 1 Million votes from over 143k unique voters. Early October marked the GAM3 Awards 2024 announcement. Since then, hundreds of web3 games urged their communities to nominate and vote for them across different categories. Thousands of social posts were spread across partners, games, media outlets, content creators, and community members generating over 60 Million impressions.

Final Thoughts

The GAM3 Awards 2024 ceremony on November 22nd saw a peak viewership of 48k CCV, reaching over 450k views in the first 24 hours alone. Off The Grid by Gunzilla Games took home four awards, including the coveted “Game of the Year” award. This was followed closely by Parallel, who claimed an impressive three awards. Pixels and Pirate Nation took home two awards each!

With over 300+ in-person attendees, viewers got to witness gameplay premiers and exclusive premier trailers from Golden Tides, Unfettered, Elumia, Providence, Shrapnel, Raven Quest, Mighty Bear Games, Revenge, Trail Xtreme, Warped, and more! All of which are a testament to the bright future of web3 gaming as we head into 2025 with the event expected to return next November for its fourth consecutive edition.

The post The GAM3 Awards 2024 Winners Announced appeared first on News, Events, Advertising Options.

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Blockchain

Bybit Launches bbSOL Virtual Card, Bridging Solana Ecosystem with Innovative Features

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Blockchain

Bybit Web3 Leads the Way in Ecosystem Collaboration – Launching Sui Wonderland 2024

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