Digihost Announces Effective Date of Share Consolidation to Facilitate Nasdaq Listing
October 26 2021 - 7:00AM
Digihost Technology Inc. (“
Digihost” or the
“
Company”) (TSXV: DGHI; OTCQB: HSSHF), an
innovative North American-based Bitcoin self-mining company,
announces that the Company will effect the consolidation of its
outstanding subordinate voting shares and proportionate voting
shares (collectively, the “
Shares”), as previously
announced on October 5, 2021, on the basis of three (3)
pre-consolidation Shares for every one (1) post-consolidation Share
(the “
Consolidation”). Any fraction of a Share
will be rounded down to the nearest whole number. The Shares will
begin trading on the TSX Venture Exchange (“
TSXV”)
on a consolidated basis and with a new CUSIP number on October 28,
2021.
As a result of the Consolidation, the
outstanding Shares of the Company will be reduced to approximately
25,029,610 Shares.
The Company has effected the Consolidation to
facilitate a proposed listing of its subordinate voting shares on
the Nasdaq Capital Market (“Nasdaq”) and satisfy
the minimum share price requirement set by Nasdaq. The Company is
pursuing a Nasdaq listing to enhance its investor profile and
increase liquidity for its shareholders. The listing of the Company
on Nasdaq remains subject to the approval of Nasdaq and the
satisfaction of all applicable listing and regulatory requirements.
As a result, there can be no assurances that Digihost’s shares will
be listed on Nasdaq. Digihost expects to retain its listing on the
TSX Venture Exchange under the symbol “DGHI” and, until Digihost
shares are listed on Nasdaq, on the OTCQB under the ticker symbol
“HSSHF”.
The Company will not be changing its name or
trading symbol in connection with the Consolidation.
Trading on a Consolidated Basis: October 28,
2021
New CUSIP: 25381D206
New ISIN: CA25381D2068
About Digihost Technology
Inc.
Digihost Technology Inc. is a growth-oriented
blockchain technology company primarily focused on Bitcoin mining.
The Company is currently hashing at a rate of 285PH with plans to
expand to a hashrate of 3.6 EH by the end of 2022.
For further information, please contact:
Digihost Technology
Inc.www.digihost.caMichel Amar, Chief Executive Officer T:
1-818-280-9758Email: michel@digihostblockchain.com
Cautionary StatementTrading 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 StatementsExcept for the
statements of historical fact, this news release contains
“forward-looking information” and “forward-looking statements”
(collectively, “forward-looking information”) that are based on
expectations, estimates and projections as at the date of this news
release. Forward-looking information in this news release includes
information about the proposed consolidation, expectations in
respect to listing and trading on Nasdaq and future plans and
objectives of the Company. Other forward-looking information
includes, but is not limited to, information concerning: hashrate
expansion, diversification of operations, potential further
improvements to profitability and efficiency across mining
operations, potential for the Company’s long-term growth, and the
business goals of the Company Factors that could cause actual
results, performance or achievements to differ materially from
those described in such forward-looking information include, but
are not limited to: completion of the proposed consolidation;
continued effects of the COVID19 pandemic may have a material
adverse effect on the Company’s performance as supply chains are
disrupted and prevent the Company from operating its assets; a
decrease in cryptocurrency pricing, volume of transaction activity
or generally, the profitability of cryptocurrency mining; further
improvements to profitability and efficiency may not be realized;
the digital currency market; the Company’s ability to successfully
mine digital currency on the cloud; the Company may not be able to
profitably liquidate its current digital currency inventory, or at
all; a decline in digital currency prices may have a significant
negative impact on the Company’s operations; the volatility of
digital currency prices; and other related risks as more fully set
out in the Annual Information Form of the Company and other
documents disclosed under the Company’s filings at www.sedar.com.
The forward-looking information in this news release reflects the
current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has made assumptions about: the current
profitability in mining cryptocurrency (including pricing and
volume of current transaction activity); profitable use of the
Company’s assets going forward; the Company’s ability to profitably
liquidate its digital currency inventory as required; historical
prices of digital currencies and the ability of the Company to mine
digital currencies on the cloud will be consistent with historical
prices; and there will be no regulation or law that will prevent
the Company from operating its business. The Company has also
assumed that no significant events occur outside of the Company's
normal course of business. Although the Company believes that the
assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein.
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