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Hashchain Technology Inc. Announces Extension to Defintive Agreement and Provides Update on Proposed Reverse Takeover Transaction with Digihost International, Inc.
(via TheNewswire) Vancouver, BC - TheNewswire - September 11 , 2019 - HashCha...
About this update from Intellabridge Technology Corp.
[{"type":"text","content":"Hashchain Technology Inc. Announces Extension to Defintive Agreement and Provides Update on Proposed Reverse Takeover Transaction with Digihost International, Inc.(via TheNewswire)\n \n \nVancouver, BC - TheNewswire - September 11, 2019 - HashChain Technology Inc. (\"HashChain\" or the \"Company\") (TSXV:KASH) (OTCQB:HSSHF) provides an update with respect to its previously announced reverse takeover transaction (the \"Proposed Transaction\") with Digihost International, Inc. (\"Digihost\"), previously disclosed in the Company's press releases of March 28, 2019, April 26, 2019, June 7, 2019 and July 29, 2019. Upon completion of the Proposed Transaction, the issuer resulting from the Proposed Transaction (the \"Resulting Issuer\") will carry on the business previously carried on by HashChain. It is anticipated that upon completion of the Proposed Transaction, the Resulting Issuer will be listed as Tier 2 Technology Issuer under the policies of the TSX Venture Exchange (the \"TSXV\" or the \"Exchange\").\n\n\n \nExtension to Definitive Agreement\n\n\n \nAs last disclosed in the press release of the Company dated March 28, 2019, the Company has entered into an agreement dated March 28, 2019 (the \"Definitive Agreement\") with shareholders of Digihost, pursuant to which the assets of HashChain and Digihost will be combined by way of a share exchange between HashChain and shareholders of Digihost. The Proposed Transaction will constitute a \"reverse-takeover\" of HashChain by Digihost under the policies of the Exchange. On August 30, 2019, the Company entered into an extension agreement with the shareholders of Digihost, extending the date before which the Proposed Transaction must close under the terms of the Definitive Agreement from August 31, 2019 to October 31, 2019. The terms of the Definitive Agreement remain otherwise unchanged.\n\n\n \nGeneral Information about Digihost\n\n\n \nDigihost is a private company focused on identifying and evaluating opportunities to develop cryptocurrency mining operations. 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. Concurrent with the closing of the Proposed Tr...