This information launch constitutes a “designated news release” for the needs of the Company’s prospectus complement dated March 4, 2022 to its brief kind base shelf prospectus dated February 23, 2022.
TORONTO, Oct. 14, 2022 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost” or the “Company”) (Nasdaq: DGHI; TSXV: DGHI), an revolutionary U.S. primarily based Bitcoin (“BTC”) mining firm, as we speak introduced that on October 10, 2022 it acquired a written notification (the “Notification Letter”) from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that, for the final thirty consecutive business days, the bid value for the Company’s Subordinate Voting Shares (the “Shares”) had closed beneath the minimal US$1.00 per share requirement for continued itemizing on Nasdaq beneath Nasdaq Listing Rule 5550(a)(2).
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been offered an preliminary interval of 180 calendar days, or till April 10, 2023, to regain compliance. The letter states that the Nasdaq workers will present written notification that the Company has achieved compliance with Rule 5550(a)(2) if at any time earlier than April 10, 2023, the bid value of the Company’s Shares closes at US$1.00 per share or extra for no less than ten consecutive business days. The Nasdaq letter is simply a notification of deficiency and has no speedy impact on the itemizing or buying and selling of the Company’s Shares and the Shares will proceed to commerce on Nasdaq beneath the image “DGHI.” The Company’s Shares are additionally listed on the TSX Venture Exchange and the Notification Letter doesn’t have an effect on the Company’s compliance standing with such itemizing.
The Company intends to watch the bid value of its Shares between now and April 10, 2023, and to judge its accessible choices to regain compliance with Nasdaq’s minimal bid value rule inside the compliance interval. If the Company doesn’t regain compliance with Rule 5550(a)(2) by April 10, 2023, the Company could also be eligible for a further 180 calendar day compliance interval.
The Company’s business operations will not be affected by the receipt of the Notification Letter and the Company totally intends to resolve the deficiency and regain compliance with the Nasdaq Listing Rules.
About Digihost
Digihost is a growth-oriented blockchain expertise firm primarily targeted on BTC mining. Through its self-mining operations and three way partnership agreements, the Company is presently hashing at a charge of roughly 650 PH/s.
For additional data, please contact:
Digihost Technology Inc.
www.digihost.ca
Michel Amar, Chief Executive Officer
T: 1-818-280-9758
Email: [email protected]
Cautionary Statement
Trading within the securities of the Company must be thought-about extremely speculative. No inventory change, securities fee or different regulatory authority has authorised or disapproved the data contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSX Venture Exchange) accepts duty for the adequacy or accuracy of this launch.
Forward-Looking Statements
Except for the statements of historic reality, this information launch accommodates “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) which are primarily based on expectations, estimates and projections as on the date of this information launch and are coated by secure harbors beneath Canadian and United States securities legal guidelines. Forward-looking data on this information launch consists of statements regarding Digihost Technology Inc. receiving Nasdaq notification relating to minimal bid value deficiency, details about potential additional enhancements to profitability and effectivity throughout mining operations together with, on account of the Company’s growth efforts, potential for the Company’s long-term progress, and the business objectives and targets of the Company. Factors that would trigger precise outcomes to vary materially from these described in such forward-looking data embody, however will not be restricted to: future capital wants and uncertainty of extra financing, together with the Company’s skill to make the most of the Company’s at-the-market providing program (the “ATM Program”) and the costs at which the Company might promote securities within the ATM Program, in addition to capital market situations on the whole; share dilution ensuing from the ATM Program and from different fairness issuances; dangers regarding the technique of sustaining and growing Bitcoin holdings and the influence of depreciating Bitcoin costs on working capital; regulatory and different unanticipated points that prohibit us from declaring or paying dividends to our shareholders which are payable in Bitcoin; continued results of the COVID19 pandemic might have a fabric adversarial impact on the Company’s efficiency as provide chains are disrupted and stop the Company from working its belongings; improvement of extra amenities to broaden operations in Alabama will not be accomplished on the timelines anticipated by the Company, or in any respect; the acquisition of North Tonawanda, New York amenities closing on well timed foundation, or in any respect; skill to entry extra energy from the native energy grid; a lower in cryptocurrency pricing, quantity of transaction exercise or usually, the profitability of cryptocurrency mining; additional enhancements to profitability and effectivity will not be realized; the digital foreign money market; the Company’s skill to efficiently mine digital foreign money on the cloud; the Company might not be capable of profitably liquidate its present digital foreign money stock, or in any respect; a decline in digital foreign money costs might have a major detrimental influence on the Company’s operations; the volatility of digital foreign money costs; the Company’s skill to regain compliance with the Nasdaq itemizing necessities; and different associated dangers as extra totally set out within the Annual Information Form of the Company and different paperwork disclosed beneath the Company’s filings at www.sedar.com. The forward-looking data on this information launch displays the present expectations, assumptions and/or beliefs of the Company primarily based on data presently accessible to the Company. In reference to the forward-looking data contained on this information launch, the Company has made assumptions about: the present profitability in mining cryptocurrency (together with pricing and quantity of present transaction exercise); worthwhile use of the Company’s belongings going ahead; the Company’s skill to profitably liquidate its digital foreign money stock as required; historic costs of digital currencies and the power of the Company to mine digital currencies on the cloud will likely be in step with historic costs; the power to take care of dependable and economical sources of energy to run its cryptocurrency mining belongings; the detrimental influence of regulatory modifications within the vitality regimes within the jurisdictions during which the Company operates; the power to stick to Digihost’s dividend coverage and the timing and quantum of dividends primarily based on, amongst different issues, the Company’s working outcomes, money move and monetary situation, Digihost’s present and anticipated capital necessities, and basic business situations; and there will likely be no regulation or legislation that may stop the Company from working its business. The Company has additionally assumed that no vital occasions happen outdoors of the Company’s regular course of business. Although the Company believes that the assumptions inherent within the forward-looking data are cheap, forward-looking data is just not a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data because of the inherent uncertainties therein.
