Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

Hut 8 Mining Corp. Announces Closing of CAD$77.5 Million Offering with Institutional Investors

Published

on

Toronto, Ontario–(Newsfile Corp. – January 13, 2021) –  Hut 8 Mining Corp. (TSX: HUT) (the “Company“) is pleased to announce that it has closed its previously announced private placement of equity securities (the “Offering“). The Offering was for gross proceeds of CAD$77,500,000 and consisted of the sale of 15,500,000 common shares (the “Offered Shares“) and warrants to purchase up to 7,750,000 common shares at a purchase price of CAD$5.00 per Offered 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.

H.C. Wainwright & Co. acted as the exclusive placement agent for the Offering in the United States.

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

H.C. Wainwright & Co. received (i) a cash commission equal to 6.0% of the gross proceeds of the Offering and (ii) 930,000 non-transferable broker warrants (the “Broker Warrants“). Each Broker Warrant will entitle the holder to purchase one common share at an exercise price of CAD$6.25 at any time prior to the second anniversary of the issuance date.

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.

Advertisement

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.

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

HUT 8 MEDIA ENQUIRIES CONTACT:
Dea Masotti Payne
North Strategic
Tel: (204) 583-1695
Email: [email protected]

Cautionary Note Regarding Forward‐Looking Information

Advertisement

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 expected use of proceeds of the Offering.

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 Offering; 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 Offered 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.

/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

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

Published

on

fintech-as-a-service-market:-a-comprehensive-trends-analysis-predicts-a-usd-1,32912-billion-by-2032-cagr:-17.4%-|-pmr
Continue Reading

Blockchain

Bybit Web3 Launches World’s Largest GameFi Playground at Crypto Ark-ade as GameFi Market Size Surges to $20bn

Published

on

bybit-web3-launches-world’s-largest-gamefi-playground-at-crypto-ark-ade-as-gamefi-market-size-surges-to-$20bn
Continue Reading

Blockchain

Money Transfer Apps Industry Worth $47.67 Billion by 2029 – Regional Markets Analysis and Profiles of Leading Players PayPal, Western Union Financial Services, Wise Payments, Remitly, WorldRemit, Revolut & More

Published

on

money-transfer-apps-industry-worth-$47.67-billion-by-2029-–-regional-markets-analysis-and-profiles-of-leading-players-paypal,-western-union-financial-services,-wise-payments,-remitly,-worldremit,-revolut-&-more

Global Money Transfer App Market

Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE