Business
Independent Proxy Advisory Firm Glass Lewis Recommends Hut 8 Shareholders Vote for Merger of Equals with US Bitcoin Corp
Votes must be received no later than 4 p.m. ET September 8, 2023 TORONTO, Aug. 30, 2023 /PRNewswire/ - Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT), ("Hut 8"
About this update from Hut 8 Corp.
[{"type":"text","content":"Votes must be received no later than 4 p.m. ET September 8, 2023\nTORONTO, Aug. 30, 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, announced today that Glass Lewis & Co. (\"Glass Lewis\"), the second-largest American proxy advisory services company in North America, has recommended that Hut 8 shareholders vote in favour of the resolutions approving the proposed business combination (the \"Transaction\") with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (\"USBTC\").\n\n \n \n \n \n \n \n\n \nThe recommendation comes as Hut 8 continues to make progress on the Transaction, pursuant to which Hut 8 and USBTC will combine in an all-stock merger of equals. The combined company will be named Hut 8 Corp. (\"New Hut\") and will be a U.S.-domiciled entity. 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. The Transaction is expected to establish New Hut as a large scale, publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices.\nNew Hut's combined balance sheet is expected to provide New Hut with greater financial stability, enhance its ability to navigate market cycles and increase its ability to expand and invest in new opportunities.\nThis recommendation follows Institutional Shareholder Services Inc., the world's leading provider of corporate governance and responsible investment solutions, recommending that Hut 8 shareholders vote in favour of the resolutions. The details of that announcement can be found here.\n\"As we continue to make progress toward closing the Transaction with USBTC, we are very pleased that Glass Lewis has recommended Hut 8 shareholders vote in favour of all resolutions to establish New Hut,\" said Jaime Leverton, CEO of Hut 8. \"With the two top proxy advisory firms in North America advising shareholders to approve this merger, we look forward to completing this Transaction and forming a strengthened, dynamic business backed by both Bitcoin and fiat revenues generated from robust Nor...