Hashchain Technology Inc. Provides Update on Proposed Proposed Reverse Takeover Transaction with Digihost International, Inc.

About this update from Intellabridge Technology Corp.

[{"type":"text","content":"Hashchain Technology Inc. Provides Update on Proposed Proposed Reverse Takeover Transaction with Digihost International, Inc.(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / June 7, 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\").\n\n\n \nOn March 28, 2019, the Company announced that it has entered into an agreement (the \"Definitive Agreement\") with shareholders of Digihost whereby the assets of HashChain and Digihost will be combined by way of a share exchange between HashChain and shareholders of Digihost, constituting a \"reverse-takeover\" of HashChain by Digihost under the policies of the TSX Venture Exchange. 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 \nThe completion of the Proposed RTO is subject to a number of conditions precedent (as described in prior press releases of the Company), including approval of the Proposed Transaction by the Exchange and the shareholders of HashChain prior to August 31, 2019, failing which the Definitive Agreement will terminate unless extended by mutual agreement of the parties.\n\n\n \nReview of the Proposed Transaction by the Exchange remains ongoing. \n\n\n \nTrading Halt\n\n \n \nThe common shares of HashChain are currently halted from trading and are not expected to resume trading until the Exchange completes its review of the Proposed Transaction and a management information circular describing the Proposed Transaction is filed on SEDAR for consideration by HashChain's shareholders.\n\n \n \nThe Proposed Transaction cannot close until the required shareholder approval is obtained and there can be no assurance that the Proposed Transaction will be completed as proposed or at all.\n\n \n \nInvestors are cautioned that, except as disclosed in the management information circular to be prepared in connection wi...

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