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Digihost Publicizes CAD$25 Million Non-public Placement With Institutional Buyers

Digihost Announces CAD$25 Million Private Placement With Institutional Investors


/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, April 06, 2021 (GLOBE NEWSWIRE) — Digihost Expertise Inc. (“Digihost” or the “Firm”) (TSXV: DGHI; OTCQB: HSSHF) is happy to announce that the Firm has entered into subscription agreements with sure institutional buyers, for gross proceeds of roughly CAD$25 million in a non-public placement of its fairness securities, comprised of 11,682,243 widespread shares of the Firm (“Shares”) and warrants to buy as much as 11,682,243 widespread shares (“Warrants”), at a purchase order value of CAD$2.14 per Share and related Warrant. The Warrants have an train value of CAD$2.37 per Share and train interval of 4 years from the issuance date. The web proceeds of the non-public placement can be utilized by the Firm primarily to accumulate extra Bitcoin miners, infrastructure enlargement, additional cut back vitality prices and for working capital functions.

H.C. Wainwright & Co. is performing because the unique placement agent for the non-public placement.

The non-public placement is predicted to shut on or about April 9, 2021, topic to satisfaction of customary closing circumstances, together with the approval of the TSX Enterprise Alternate.

No securities had been supplied or offered to Canadian residents in reference to the non-public placement.

This information launch shall not represent a proposal to promote or the solicitation of a proposal to purchase nor shall there be any sale of the securities in any jurisdiction through which such supply, solicitation or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of any such jurisdiction. This information launch shall not represent a proposal of securities on the market in the US. The securities being supplied haven’t been, nor will they be, registered underneath the US Securities Act of 1933, as amended, and such securities will not be supplied or offered inside the US absent registration underneath U.S. federal and state securities legal guidelines or an relevant exemption from such U.S. registration necessities.

About Digihost Expertise Inc.

Digihost Expertise Inc. is a growth-oriented blockchain firm primarily targeted on Bitcoin mining. The Firm’s mining facility is situated in Buffalo, N.Y., and is provided with an 18.7MVA 115,000-kilovolt-ampere out of doors substation with an choice to extend the ability output to 42MVA. The Firm is presently mining roughly 1.2 Bitcoins per day, topic to problem. Digihost’s technique is to deal with regularly rising its hashrate with a concurrent discount in vitality prices.

For additional data, please contact:

Digihost Expertise Inc.
www.digihost.ca
Michel Amar, Chief Government Officer
E-mail: michel@digihost.ca

Cautionary Assertion 
Buying and selling within the securities of the Firm ought to be thought of extremely speculative. No inventory alternate, securities fee or different regulatory authority has authorized or disapproved the knowledge contained herein. Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.

Ahead-Trying Statements 
Apart from the statements of historic reality, this information launch comprises “forward-looking data” inside the that means of the relevant Canadian securities laws that’s based mostly on expectations, estimates and projections as of the date of this information launch. “Ahead-looking data” on this information launch consists of details about the Non-public Placement together with closing of the Non-public Placement and approval of the TSX Enterprise thereof and the usage of internet proceeds from the Non-public Placement, potential additional enhancements to profitability and effectivity throughout mining operations, potential for the Firm’s long-term progress, and the enterprise targets and aims of the Firm. Components that would trigger precise outcomes to vary materially from these described in such forward-looking data embody, however are usually not restricted to: market and different circumstances, continued results of the COVID-19 pandemic could have a cloth adversarial impact on the Firm’s efficiency as provide chains are disrupted and stop the Firm from working its property; a lower in cryptocurrency pricing, quantity of transaction exercise or typically, the profitability of cryptocurrency mining; additional enhancements to profitability and effectivity will not be realized; the digital foreign money market; the Firm’s capacity to efficiently mine digital foreign money on the cloud; the Firm could not have the ability to profitably liquidate its present digital foreign money stock, or in any respect; a decline in digital foreign money costs could have a major unfavorable impression on the Firm’s operations; the volatility of digital foreign money costs; the supply of electrical energy at prevailing charges and on a steady foundation; and, different associated dangers as extra absolutely set out within the Annual Data Type of the Firm and different paperwork disclosed underneath the Firm’s filings at www.sedar.com. The forward-looking data on this information launch displays the present expectations, assumptions and/or beliefs of the Firm based mostly on data presently out there to the Firm. In reference to the forward-looking data contained on this information launch, the Firm has made assumptions about: the present profitability in mining cryptocurrency (together with pricing and quantity of present transaction exercise); worthwhile use of the Firm’s property going ahead; the Firm’s capacity to profitably liquidate its digital foreign money stock as required; historic costs of digital currencies and the flexibility of the Firm to mine digital currencies on the cloud can be according to historic costs; the pricing of electrical energy at historic charges; the adequacy and safety of custody for cash maintained in stock; and, there can be no regulation or legislation that can stop the Firm from working its enterprise. The Firm has additionally assumed that no vital occasions happen exterior of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking data are cheap, forward-looking data shouldn’t be a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data as a result of inherent uncertainty therein.

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