TORONTO, ONTARIO Hut 8 Mining Corp. (TSX: HUT) (the “Company“) is pleased to announce that it has closed its previously announced underwritten public offering (the “Offering“) through a syndicate of underwriters led by Stifel GMP (the “Lead Underwriter“), Canaccord Genuity Corp., Echelon Wealth Partners Inc., Gravitas Securities Inc., Haywood Securities Inc., and Richardson GMP Limited (together with the Lead Underwriter, the “Underwriters“). In connection with the closing of the Offering, the Underwriters have partially exercised their overallotment option. The Company issued 5,750,456 units (“Units“) at a price of $1.45 per Unit (the “Offering Price“) for aggregate gross proceeds to the Company of $8,338,161.
Each Unit is comprised of one common share (each a “Common Share“) and one Common Share purchase warrant of the Company (each a “Warrant“). Each Warrant will entitle the holder thereof to acquire one additional Common Share of the Company (each a “Warrant Share“) at an exercise price of $1.80 per Warrant Share at any time for a period of 18 months from today.