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VANCOUVER, British Columbia, April 01, 2019 (GLOBE NEWSWIRE) -- HashChain Technology Inc. (“HashChain”) (TSXV: KASH; OTCQB: HSSHF) – This press release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take Over Bids and Insider Reporting Issues, with respect to the filing of an early warning report by Michel Amar (“Mr. Amar”) in connection with the share exchange agreement (the “Definitive Agreement”) entered into between HashChain and the shareholders of Digihost International, Inc. (“Digihost”), as described in HashChain’s press release of March 28, 2019.
On March 28, 2019, HashChain and Digihost entered into the Definitive Agreement for a business combination (“Business Combination”) such that the shareholders of Digihost would exchange common shares of Digihost for common shares of HashChain on a post-consolidation basis as per the terms of the Definitive Agreement (the “HashChain Shares”). Prior to the Business Combination, Mr. Amar owned nil common shares of HashChain. Assuming completion of the Business Combination, Mr. Amar will have ownership, control and direction through his holding companies over 13,324,954 post-consolidation HashChain Shares, representing 36.9% of the outstanding and issued HashChain Shares on a partially diluted basis.
The HashChain Shares will be acquired for investment purposes. Mr. Amar will review his holdings from time to time and may increase or decrease his position as future circumstances may dictate.
For further details, please see the Early Warning Report, a copy of which is available on HashChain’s profile on SEDAR at www.sedar.com.
About HashChain
HashChain is a blockchain company, and the first publicly traded (TSXV: KASH; OTCQB: HSSHF) Canadian cryptocurrency mining company to file a final prospectus supporting highly scalable and flexible mining operations across all major cryptocurrencies. HashChain taps low-cost North American power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the number of mining 'wins.' HashChain currently operates 8,395 Bitcoin Rigs with an additional 3,500 Rigs to be deployed from its previously announced acquisitions. Once all Rigs are operational, HashChain’s mining operations will consist of 11,895 Rigs consuming approximately 17.5 megawatts of power.
About Digihost
Digihost is a private company focused on providing cryptocurrency hosting services to cryptocurrency miners. Digihost has its registered office in Wilmington, Delaware and was incorporated under the laws of the State of Delaware on October 9, 2018. Since incorporation, Digihost has entered into agreements to purchase equipment for the purposes of providing cryptocurrency hosting services.
Additional Information
For further information, please contact:
Digihost International, Inc.
Angie Ihler, Media Inquiries
T: 917-242-6549
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.