Business
Hut 8 Provides Update on Business Combination with USBTC: Obtains Final Order for Plan of Arrangement from the Supreme Court of British Columbia
TORONTO, Sept. 18, 2023 /PRNewswire/ - Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) ("Hut 8" or the "Company") one of North America's largest,
About this update from Hut 8 Corp.
[{"type":"text","content":"TORONTO, Sept. 18, 2023 /PRNewswire/ - Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (\"Hut 8\" or the \"Company\") one of North America's largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure providers, is pleased to announce that, in connection with its previously announced business combination (the \"Transaction\") with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (\"USBTC\") to be effected by way of a court-approved plan of arrangement (the \"Arrangement\") under the Business Corporations Act (British Columbia), the Supreme Court of British Columbia has issued a final order approving the Arrangement. \n\n \n \n \n \n \n \n\n \nPursuant to the Transaction, Hut 8 and USBTC will combine in an all-stock merger of equals and the combined company will be named Hut 8 Corp. (\"New Hut\") and be a U.S.-domiciled entity. Closing of the Transaction remains subject to certain conditions, including USBTC's registration statement becoming effective, the approval of USBTC's stockholders, and other closing conditions customary in transactions of this nature. If all necessary conditions to the completion of the Transaction are satisfied or waived, it is expected that the Transaction will be completed during the fourth quarter of 2023. New Hut intends to list its shares on Nasdaq and the TSX under the trading symbol \"HUT\" following the completion of the Transaction, subject to the approval of Nasdaq and the TSX.\nThe Company reminds registered shareholders to promptly deliver a duly completed and signed letter of transmittal (\"Letter of Transmittal\") to Computershare Investor Services Inc., in order to receive their shares of New Hut common stock upon closing of the Transaction.\nA copy of the Letter of Transmittal, including instructions on its completion, and the Company's management information circular dated August 11, 2023, which contains further information on the Transaction, can each be found on the Company's website at www.hut8.com, and on the Company's profile on SEDAR+ at www.sedarplus.com or on EDGAR at www.sec.gov.\nAbout Hut 8 Through innovation, imagination, and passion, Hut 8's seasoned executive team is bullish on building and operating computing infrastructure that powers Bitcoin mining, traditional data centres, and emerging technologies like AI and machine learning. H...