Share Consolidation to Facilitate Nasdaq Listing TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF), an innovative North American-based Bitcoin self-mining company, announces that, to facilitate a proposed listing of its subordinate voting shares on the Nasdaq Capital Market (“Nasdaq”) and satisfy the minimum share price requirement set by Nasdaq, the Company intends to consolidate the outstanding subordinate voting shares and proportionate voting shares of the Company (collectively, the “Shares”) on the basis of three (3) pre-consolidation Shares for every one (1) post-consolidation Share (the “Consolidation”).
The Company currently has 75,078,831 subordinate voting shares and 10,000 proportionate voting shares issued and outstanding, and, following the Consolidation, it is expected there will be approximately 25,026,277 subordinate voting shares and 3,333 proportionate voting shares issued and outstanding. The exercise price and number of subordinate voting shares issuable upon the exercise of the Company’s outstanding options and warrants will also be proportionately adjusted upon completion of the Consolidation. The Company will not issue any factional post-Consolidation Shares as a result of the Consolidation. Instead, each fractional share remaining after conversion will be rounded down to the nearest whole post-Consolidation Share.
The Company is pursuing a Nasdaq listing to enhance its investor profile and increase liquidity for its shareholders. The listing of the Company on Nasdaq remains subject to the approval of Nasdaq and the satisfaction of all applicable listing and regulatory requirements. As a result, there can be no assurances that Digihost’s shares will be listed on Nasdaq. Digihost expects to retain its listing on the TSX Venture Exchange under the symbol “DGHI” and, until Digihost shares are listed on Nasdaq, on the OTCQB under the ticker symbol “HSSHF”.
Michel Amar, the Company’s CEO stated: “A key aspect of our Company’s growth strategy is to provide our investors with greater liquidity through the listing of its shares on an internationally recognized stock exchange. Uplisting the Company’s shares from the OTC market to Nasdaq will also provide the Company with broader access to capital and institutional recognition. The Company’s current financial position presents the opportunity to accelerate the plan for meeting the listing requirements of the Nasdaq by consolidating the Company’s shares.”
Completion of the Consolidation is subject to approval by the TSXV. The Company will issue a further news release announcing the effective date of the Consolidation once such date is determined.
The Company will not be changing its name or trading symbol in connection with the Consolidation.
https://www.globenewswire.com/news-release/2021/10/05/2308562/0/en/Digihost-Announces-Share-Consolidation-to-Facilitate-Nasdaq-Listing.html