TORONTO, Nov. 30, 2021 /PRNewswire/ - Hut 8 Mining
Corp. (Nasdaq: HUT) (TSX: HUT) ("Hut 8" or "the
Company"), announces that its board of directors (the
"Board") has approved a change of the Company's auditor. The
Company's former auditor, Dale Matheson Carr-Hilton Labonte LLP
(the "Former Auditor" or "DMCL"), has resigned on its
own initiative prior to the expiry of their term in office,
effective as of November 16, 2021.
The Board and the audit committee of the Board (the "Audit
Committee") have appointed Raymond Chabot Grant Thornton LLP
(the "Successor Auditor" or "Raymond Chabot Grant
Thornton") as the successor auditor of the Company, effective
as of November 30, 2021.
"We are grateful for the services provided by DMCL since first
engaging with the Company in 2018" said Shane Downey, Chief Financial Officer of Hut 8."
We look forward to a smooth transition with the Raymond Chabot
Grant Thornton team and continuing to deliver on our
objectives."
There were no disagreements or unresolved issues with the Former
Auditor on any matter of the audit scope or procedures, accounting
principles or policies, or financial statement disclosure. There
have been no "reportable events" (as defined in National Instrument
51-102 – Continuous Disclosure Obligations) between the
Company and the Former Auditor. The Former Auditor did not provide
a modified opinion in their auditor's report for the financial
statements of the Company fiscal years ended December 31, 2020 and 2019.
A Notice of Change of Auditor (the "Notice"), together
with the response letters from the Former Auditor and Successor
Auditor have been reviewed by the Audit Committee and the Board and
have been filed on www.sedar.com.
FORWARD-LOOKING INFORMATION
This press 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 press 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, statements regarding the anticipated
transition between auditors.
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 Annual Information
Form dated March 25, 2021, which is
available on www.sedar.com. 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.
Neither the Toronto Stock Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Toronto
Stock Exchange) accepts responsibility for the adequacy or accuracy
of this release.
About Hut 8:
Hut 8 is a digital asset mining company with industrial-scale
operations in Alberta,
Canada. The Company is one of North America's largest innovation-focused
digital asset miners, supporting open and decentralized systems
since 2018. Located in energy rich Alberta, Canada, Hut 8 has one of the highest
installed capacity rates in the industry and holds more self-mined
Bitcoin than any publicly traded company globally. Hut 8 is
executing on its strategy of mining and holding Bitcoin, while
building a diversified business and revenue strategy to grow
and protect shareholder value, regardless of Bitcoin price
action. The Company's multi-pronged business strategy includes
profitable digital asset mining, white-label high-performance
compute hosting, as well as yield & income programs leveraging
its Bitcoin held in reserve. Having demonstrated rapid growth and a
stellar balance sheet, Hut 8 was the first publicly traded miner on
the TSX and the first Canadian miner to be listed on The Nasdaq
Global Select Market. Hut 8's team of business building
technologists are believers in decentralized systems, stewards of
powerful industry-leading solutions, and drivers of innovation in
digital asset mining and high-performance computing, with a focus
on Environmental, Social and Governance ("ESG")
standards alignment. Through innovation, imagination, and
passion, Hut 8 is helping to define the digital asset revolution to
create value and positive impacts for its shareholders and
generations to come.
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SOURCE Hut 8 Mining Corp