TORONTO, June 15, 2021 /CNW/ - Hut 8 Mining Corp. (TSX:
HUT) (the "Company") is pleased to announce that it has
closed its previously announced bought deal public offering (the
"Offering"), pursuant to which the Company issued an
aggregate of 23,000,000 units of the Company (the "Units")
at a price of C$5.00 per Unit for
gross proceeds to the Company of C$115,000,000.00 (the "Offering"), which
includes 3,000,000 Units issued with the full exercise of the
over-allotment option granted to the Underwriters (as defined
below).
The Company is also pleased to announce that trading of the
Company's common shares on The Nasdaq Global Select Market
("Nasdaq") is expected to begin later today under the symbol
"HUT".
The Offering was led by Canaccord Genuity, as sole
bookrunner, and Stifel GMP acting as co-lead underwriters, together
with a syndicate of underwriters including Craig-Hallum Capital
Group LLC (collectively, the "Underwriters").
Each Unit is comprised of one common share of the Company (a
"Common Share") and one-half of one Common Share purchase
warrant of the Company (each whole warrant, a "Warrant").
Each Warrant entitles the holder thereof to acquire one additional
Common Share (a "Warrant Share") at an exercise price of
C$6.25 per Warrant Share at any time
up to 24 months from the closing date of the Offering.
The Company intends to use the net proceeds from the Offering to
support the growth of its business, as further described in the
Prospectus Supplement (as defined below).
The Offering was made pursuant to a prospectus supplement dated
June 11, 2021 (the "Prospectus
Supplement") to the Company's short form base shelf prospectus
dated April 7, 2021 (the "Base
Shelf Prospectus"), filed with the securities commissions or
similar securities regulatory authorities in each of the provinces
and territories of Canada. In
addition, the Prospectus Supplement was filed with the United
States Securities and Exchange Commission (the "SEC") as a
supplement to the Company's registration statement on Form F-10
(SEC File No. 333-254059) (the "Registration Statement")
under the United States/Canada
Multi-Jurisdictional Disclosure System, which includes the Base
Shelf Prospectus. The Prospectus Supplement, the Base Shelf
Prospectus, and the Registration Statement contain important
detailed information about the Company and the Offering.
Copies of the Prospectus Supplement and the Base Shelf
Prospectus are available on SEDAR under the Company's profile, at
www.sedar.com, and copies of the Prospectus Supplement and the
Registration Statement are available on EDGAR on the SEC's website
under the Company's profile at www.sec.gov. Copies of the
Prospectus Supplement, the Base Shelf Prospectus and the
Registration Statement may also be obtained in Canada from Canaccord Genuity Corp., 161 Bay
Street, Suite 3000, Toronto, ON
M5J 2S1 and in the United States
from Canaccord Genuity LLC, 99 High Street, Suite 1200,
Boston, Massachusetts 02110, Attn:
Syndicate Department, by telephone at (617) 371-3900, or by email
at prospectus@canaccordgenuity.com.
No securities regulatory authority has either approved or
disapproved of the contents of this press release. This press
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 press release is not
an offer to sell or the solicitation of an offer to buy the
securities in the United States or
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to qualification or registration under the
securities laws of such jurisdiction
About Hut 8 Mining Corp.
Hut 8 is one of North America's
oldest, largest and innovation-focused digital asset miners. Hut 8
has one of the highest installed capacity rates in the industry and
is #1 globally in held, self-mined Bitcoin of any crypto miner or
publicly traded company. Recently ranked 11th (of 10,000) on the
2021 OTCQX® Best 50, and the first publicly traded miner on the
TSX, the Hut 8 leadership team is continually looking for ways to
accelerate innovation in high performance computing, and the
blockchain ecosystem. We are stewards of powerful, industry-leading
solutions, and drivers of innovation in digital asset mining and
high-performance computing. – Hut 8 applies a growth mindset to our
revenue diversification, ESG and carbon footprint reduction
strategy. We are a company committed to growing shareholder value
regardless of #BTC market direction. #HodltheHut.
Cautionary Note Regarding 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, information regarding the expected
commencement of trading of the Company's common shares on Nasdaq
and the intended use of proceeds from the Offering.
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 Prospectus Supplement.
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.
SOURCE Hut 8 Mining Corp.