Business
Independent Proxy Advisory Firm ISS 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. 29, 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. 29, 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 provider, announced today that Institutional Shareholder Services Inc. (\"ISS\"), the world's leading provider of corporate governance and responsible investment solutions, 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 U.S. Data Mining Group, Inc. dba US Bitcoin Corp (\"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.\n\"We continue to make progress toward closing the Transaction with USBTC and are very pleased that ISS has recommended that Hut 8 shareholders vote in favour of all resolutions to establish New Hut,\" said Jaime Leverton, CEO of Hut 8. \"We believe that once completed, the merger will establish a strengthened, dynamic business backed by both Bitcoin and fiat revenues generated from robust North America-wide operations.\"\nThe completion of the Transaction is subject to certain conditions, including the receipt of the requisite approval from the shareholders of Hut 8 and the stockholders of USBTC, the final order of the Supreme Court of British Columbia at an application which is scheduled for ...