VANCOUVER, British Columbia--(BUSINESS WIRE)--Hut 8 Mining Corp. (TSXV:HUT) (“Hut 8” or the “Company”) is pleased to announce, subject to final acceptance by the TSX Venture Exchange (the “TSXV”), the appointment of Mr. Andrew Kiguel as President and Chief Executive Officer and a director of the Company, effective April 2, 2018. In connection with such appointment, Mr. Sean Clark will step down as Interim Chief Executive Officer of the Company on March 31, 2018, but will continue to serve the Company in an advisory role.
Mr. Kiguel joins Hut 8 from GMP Securities L.P. (“GMP”), where he played an integral role for more than 18 years in the Real Estate and Retail Capital Markets groups, including most recently as Managing Director, Investment Banking, as well as a key member of GMP’s Blockchain Investment Banking Group. Mr. Kiguel has extensive experience in providing investment banking services to numerous public and private entities, including raising equity and debt capital in excess of C$3 billion over the last five years. He has also worked in an advisory role on numerous marquee M&A transactions.
“We are delighted to have a professional of Mr. Kiguel’s caliber join us as President and CEO,” said Bill Tai, Chair of the Board of Directors of Hut 8. “Mr. Kiguel brings with him more than 20 years of capital markets experience along with a deep knowledge of the blockchain industry. We look forward to his leadership as we continue to grow our operations in Canada and establish Hut 8 as the leader in North American mining."
“For more than 20 years in the investment banking world, my job has been to assist public and private companies in advancing their business objectives through smart, practical decision-making,” said Mr. Kiguel. “Owing in part to a Board whose combined experiences are unmatched among issuers in the blockchain space, Hut 8 has already demonstrated excellent fundamentals. This is a Company which, through its exclusive partnership with the Bitfury Group, one of the world’s leading full-service blockchain companies, is setting a new standard for public companies in the blockchain space. I am excited to join Hut 8 in advancing its agenda to become the world’s leading crypto-currency miner. Additionally, I’m pleased to be working with Silicon Valley legend Bill Tai, who has agreed to be the Chairman of Hut 8.”
About Hut 8
Hut 8 is a cryptocurrency mining and blockchain infrastructure company established through an exclusive partnership with the Bitfury Group, the world’s leading full-service blockchain technology company. Through its partnership with the Bitfury Group, Hut 8 has access to a proprietary mix of hardware, software, and operational know-how to construct, optimize and manage datacenters in low-cost and attractive jurisdictions. Hut 8 is led by a team of industry experts and intends to provide investors with exposure to blockchain processing infrastructure and technology along with underlying cryptocurrency rewards and transaction fees. For more information, visit www.hut8mining.com.
Forward-Looking Information
Certain statements contained in this news release constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including that the Company’s financial condition and development plans do not change as a result of unforeseen events. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to crypto-mining companies and to the Company as set forth in the Company’s Filing Statement dated March 1, 2018 in respect of the Qualifying Transaction filed under the Company’s profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
This press release is not an offer of securities for sale in the United States. The securities of Hut 8 have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
