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Digihost Technology Inc. Announces Closing of Private Placement and Completion of Reverse Takeover Transaction
(via TheNewswire) Vancouver, BC - TheNewswire - February 14, 2 020 - Digiho...
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[{"type":"text","content":"Digihost Technology Inc. Announces Closing of Private Placement and Completion of Reverse Takeover Transaction(via TheNewswire)\n \n \n\n\n\n \nVancouver, BC - TheNewswire - February 14, 2020 - Digihost Technology Inc. (\"Digihost\" or the \"Company\") (TSXV:DGH); (OTC:HSSHF) is pleased to announce the completion of its reverse takeover transaction (the \"RTO Transaction\") previously announced by news release on March 28, 2019, between Digihost International, Inc. (\"Old Digihost\") and HashChain Technology Inc. (\"HashChain\") and the closing of the previously announced non-brokered private placement (the \"Financing\") of Old Digihost. \n\n\n \nRTO Transaction\n\n\n \nIn connection with completion of the RTO Transaction, HashChain has changed its name to \"Digihost Technology Inc.\" and reclassified its common shares as subordinate voting shares (\"Digihost SV Shares\"), entitling holders of Digihost SV Shares to one (1) vote per Digihost SV Share on matters to be voted on by shareholders, in addition to amending its notice of articles to allow for the issuance of proportionate voting shares (the \"Digihost PV Shares\"). Each Digihost PV Share is convertible into two-hundred (200) Digihost SV Shares at the option of the holder. Holders of Digihost PV Shares will be entitled to one vote in respect of each Digihost SV Share into which the Digihost PV Shares may be converted. \n\n\n \nFormer shareholders of Old Digihost and HashChain are now shareholders of Digihost. Immediately prior to the completion of the RTO Transaction, HashChain completed a consolidation of all of its issued and outstanding common shares on the basis of forty (40) common shares for one (1) new common share.\n\n\n \nImmediately prior to completion of the RTO Transaction, Old Digihost issued 164,000 Old Digihost Shares (the \"Digihost Asset Shares\") in consideration for the purchase of certain assets. Pursuant to the RTO Transaction, holders of Digihost Asset Shares received approximately 181.83 Digihost SV Shares in exchange for each Digihost Asset Share, and holders of common shares of each of HashChain (on a post-consolidation basis) and Old Digihost received one (1) Digihost SV Share in exchange for each common share of HashChain and Old Digihost, as applicable. Michel Amar, the CEO and a director of Digihost, received 10,000 Digihost PV Shares in exch...