Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
One of the investors who lives in the New York area. Has indicated he will be going to their facilities to check them out.
We should be hearing from Amar to tell us how Digihost is doing financially due to higher Bitcoin prices currently $12,292.78. I have been unable to contact him.
I have left messages on the phone and send emails, but have had no response.
Stock Promotion
I sent Amar an email regarding doing stock promotions of Digihost. We may soon becoming to the right time to do so.
vANCOUVER, British Columbia, Feb. 21, 2020 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; Greys: HSSHD) is pleased to provide a corporate update following the completion of the reverse takeover transaction (the “RTO”), previously disclosed in the Company’s press release of February 14, 2020. Following completion of the RTO, the Company has realized its strategy to vertically integrate the Company’s operations with the hosting services previously provided to the Company through the colocation facilities agreements dated May 20, 2018 (the “Colocation Agreements”) and create a vertical operation.
Termination of the Colocation Agreements
Pursuant to the completion of the RTO, the Colocation Agreements, whereby the Company was paying a fee of US$0.10/kWh for the electricity used in its cryptocurrency operations, have been terminated and the Company has been released from its accrued liabilities owing under the Colocation Agreements. Following the vertical integration of the Company’s operations with the hosting infrastructure and equipment, lease agreement for a facility and a 115,000 KVA outdoor substation, and power contract for the supply of electricity to the facility, all acquired in connection with the RTO, the Company expects to be able to conduct its operations with electricity at an average cost of USD$0.038/kWh. Given the significant reduction in electricity costs and the current price of Bitcoin, the Company expects that it will be profitable this quarter.
Access to Capital
As previously disclosed in the Company’s press release of February 14, 2020, immediately prior to the completion of the RTO, the Company completed a concurrent financing for gross proceeds of C$5.4 million. As a result of the increased access to capital, the Company is looking into opportunities to acquire new Bitcoin miners with greater hash rates to expand its total computing power and operate more efficiently.
“The completion of the reverse takeover has provided a great opportunity for the re-structured Company to reduce its cost of mining and seek out new opportunities to acquire some of the latest miners to expand our capabilities,” said Michel Amar, CEO of Digihost. “New management of the Company is very excited by the opportunities in front of us and we look forward to working towards helping the Company reach its full potential. None of the directors, including myself, are receiving directors’ fees or salaries and we are dedicated to increasing the long-term value of the Company.”
About Digihost Technology Inc.
Digihost Technology Inc. is a blockchain company, which currently operates 12,895 Bitcoin mining rigs with the ability to expand to 17.5 MW of computing power. The Company’s operating facility is located in Buffalo, New York, with over 70,000 square feet and a 115,000 KVA outdoor substation under a five-year lease and an option to lease additional facility space totalling 240,000 square feet after 3 years. The Company focuses on validation through mining, hosting solutions and blockchain software solutions.
Additional Information
For further information, please contact:
Digihost International, Inc.
Angie Ihler, Media Inquiries
T: 917-242-6549
Digihost Technology Inc. Announces Closing of Private Placement and Completion of Reverse Takeover Transaction
V.KASH | 16 hours ago
(via TheNewswire)
Vancouver, BC - TheNewswire - February 14, 2020 - Digihost Technology Inc. ("Digihost" or the "Company") (TSXV:DGH); (OTC:HSSHF) is pleased to announce the completion of its reverse takeover transaction (the "RTO Transaction") previously announced by news release on March 28, 2019, between Digihost International, Inc. ("Old Digihost") and HashChain Technology Inc. ("HashChain") and the closing of the previously announced non-brokered private placement (the "Financing") of Old Digihost.
RTO Transaction
In connection with completion of the RTO Transaction, HashChain has changed its name to "Digihost Technology Inc." and reclassified its common shares as subordinate voting shares ("Digihost SV Shares"), entitling holders of Digihost SV Shares to one (1) vote per Digihost SV Share on matters to be voted on by shareholders, in addition to amending its notice of articles to allow for the issuance of proportionate voting shares (the "Digihost PV Shares"). Each Digihost PV Share is convertible into two-hundred (200) Digihost SV Shares at the option of the holder. Holders of Digihost PV Shares will be entitled to one vote in respect of each Digihost SV Share into which the Digihost PV Shares may be converted.
Former shareholders of Old Digihost and HashChain are now shareholders of Digihost. Immediately prior to the completion of the RTO Transaction, HashChain completed a consolidation of all of its issued and outstanding common shares on the basis of forty (40) common shares for one (1) new common share.
Immediately prior to completion of the RTO Transaction, Old Digihost issued 164,000 Old Digihost Shares (the "Digihost Asset Shares")in consideration for the purchase of certain assets. Pursuant to the RTO Transaction, holders of Digihost Asset Shares received approximately 181.83 Digihost SV Shares in exchange for each Digihost Asset Share, and holders of common shares of each of HashChain (on a post-consolidation basis) and Old Digihost received one (1) Digihost SV Share in exchange for each common share of HashChain and Old Digihost, as applicable. Michel Amar, the CEO and a director of Digihost, received 10,000 Digihost PV Shares in exchange for 2,000,000 common shares of Old Digihost. Additionally, directors, officers and consultants of Digihost were granted a total of 1,875,000 options to purchase Digihost SV Shares (the "Digihost Options"), with each Digihost Option exercisable for a Digihost SV Share at a price of C$0.96 and expiring five (5) years from the date of grant.
Holders of warrants of Old Digihost, including all securities issued pursuant to the Financing (as described below), received one (1) equivalent convertible security to purchase Digihost SV Shares in exchange for each Old Digihost common share purchase warrant ("Digihost SV Warrants"). As a result of the RTO and the Financing, there are now 40,073,661 Digihost SV Shares, 10,000 Digihost PV Shares, 856,160 Digihost SV Warrants and 1,875,000 Digihost Options issued and outstanding in the capital of the Company.
A total of 13,102,657 Digihost SV Shares, 10,000 Digihost PV Shares, 110,575 Digihost Warrants and 1,725,000 Digihost Options issued to insiders and consultants of the Company are escrowed in accordance with a TSXV Tier 2 Surplus escrow agreement and will be released incrementally over a 36-month period. 16,937,093 Digihost SV Shares issued to former Old Digihost shareholders and insiders of HashChain are escrowed as a TSXV Tier 2 Value escrow agreement and will also be released incrementally over a 36-month period.
Digihost will carry on the business of HashChain as a Tier 2 technology issuer and the Digihost SV Shares will be listed for trading on the TSXV on or after February 20, 2020.
Management and Board of Directors
After completion of the RTO Transaction, the Company's board of directors includes Michel Amar (Chairman and CEO), Alec Amar (President), Adam Rossman, Jon Williams, Manish Z. Kshatriya, Gerard Rotonda, Gerard Guez, Donald H. Christie and Geoffrey Browne. Cindy Davis is the CFO and Corporate Secretary.
Further details related to the RTO Transaction, directors and management of the Company are contained in the information circular prepared for shareholders of HashChain, dated November 29, 2019 and filed on SEDAR at www.sedar.com
Private Placement Closing
Immediately prior to completion of the RTO Transaction, Digihost completed its Financing for aggregate gross proceeds of C$5,395,325.52, consisting of the sale of 5,481,912common share subscription receipts (the "Common ShareSubscription Receipts") at a price of C$0.96, with each Common Share Subscription Receipt exchangeable for one common share (each, an "Old Digihost Share") of Old Digihost, and 110,575unit subscription receipts (the "Unit Subscription Receipts" and together with the Common Share Subscription Receipts, the "Subscription Receipts") at a price of C$1.20 per Unit Subscription Receipt, with each Unit Subscription Receipt exchangeable for one unit (each, an "Old Digihost Unit"). Each Old Digihost Unit consisted of one Old Digihost Common Share and one common share purchase warrant (each, an "Old Digihost Warrant") of Old Digihost. The Old Digihost Warrants which have been exchanged for equivalent securities of Digihost entitled the holder thereof to acquire one Old Digihost Share at a price of C$1.75 for a period of 18 months following the conversion of the Unit Subscription Receipts.
Each Subscription Receipt was automatically converted, without payment of additional consideration, into one Old Digihost Share or one Unit, as applicable, upon satisfaction of the conditions precedent to the RTO Transaction. Subsequent to the conversion of the Subscription Receipts, the Old Digihost Shares and Old Digihost Warrants issued pursuant to the Financing were exchanged for equivalent Digihost SV Shares and Digihost SV Warrants, respectively, on a 1:1 basis.
The securities issued pursuant to the Financing were subject to a four-month and one day hold period. After completion of the RTO Transaction, the securities of Digihost issued in exchange for Old Digihost securities offered pursuant to the Financing (including securities issuable thereunder) are free of trading restrictions, subject to TSXV escrow requirements, applicable U.S. securities laws and lock-up agreements entered into between purchasers of Subscription Receipts and Old Digihost.
The net proceeds of the Financing will be used by Digihost topurchase cryptocurrency mining equipment, carry on the business and operations of HashChain and for general corporate purposes.
The securities offered pursuant to the Financing have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. 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 jurisdiction in which such offer, solicitation or sale would be unlawful.
TSXV Approval
The RTO Transaction remains subject to final approval by the TSXV and fulfillment of all of the requirements of the TSXV in order to obtain such approval including, among other things, submission and acceptance of all documents requested by the TSXV in its conditional acceptance letter and payment of all outstanding fees to the TSXV.
Additional Information
For further information, please contact:
Digihost Technology Inc.
Alec Amar, President and Director
T: 917-242-6549
Angie Ihler, Media Inquiries
T: 917-242-6549
From: Michel Amar [mailto:michelamar046@gmail.com]
Sent: Monday, January 27, 2020 10:44 AM
To: Don J Cutrell
Subject: Re: Great News
We think this Thursday
Sent from my iPhone
On 27 Jan 2020, at 10:30 am, Don J Cutrell <marpoleblue@shaw.ca> wrote:
Michel,
When will hashchain RTO stock quantities be adjusted, and trading resumed?
Cheers, Don
Donald J. Cutrell
From: Michel Amar [mailto:michelamar046@gmail.com]
Sent: Monday, January 27, 2020 9:15 AM
To: Don J Cutrell
Subject: Re: HashChain
Its been approved
On Jan 27, 2020, at 9:13 AM, Don J Cutrell <marpoleblue@shaw.ca> wrote:
Good morning Michel,
Elmer and I are anxiously awaiting the vote results regarding the RTO; are you able at this point, to shed any light?
Cheers, Don
Donald J. Cutrell
RTO Has been approved.
Companies Like HashChain Technology (CVE:KASH) Can Be Considered Quite Risky
https://finance.yahoo.com/news/companies-hashchain-technology-cve-kash-115351362.html
Bitcoin Price Prediction: BTC/USD next rendezvous could be $6,000 – Confluence Detector
Bitcoin price has remained lethargic in action after it gave up $7,500 support. The recovery from Monday’s trip below $7,200 has not managed to clear
Read more at https://stockhouse.com/companies/bullboard?symbol=v.kash&postid=30417208#pUv423L714hOFxrk.99
No Santa Claus Rally as Crypto Analysts Remain Extremely Bearish on Bitcoin
Bitcoin is likely to end 2019 with a bearish tone. Analysts share their year-end targets and it seems that there will be no Christmas rally.
https://www.ccn.com/no-santa-claus-rally-crypto-analysts-bearish-bitcoin/
Hashchain vote
I am sure of one thing this will be the last vote to determine the future of Hashchain. There is no one left in KASH to run the company. It is Digihost or nothing at all.
New AGM meeting date will be on January 14, 2020
New notice was filed on SEDAR at 18:52:38 ET Nov 22 2019.
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00043472
Response to a Kash shareholder question from Michel Amar
From: michelamar046 [mailto:michelamar046@gmail.com]
Sent: Tuesday, October 29, 2019 7:27 AM
To: Don J Cutrell
Subject: Re: RTO ?
Dear Don,
I am not sure you realize that haschchain without that RTO is bankrupt and shareholders will lose all. The delay is only making it worse for haschain.
Best,
Sent from my Verizon, Samsung Galaxy smartphone
-------- Original message --------
From: Don J Cutrell <marpoleblue@shaw.ca>
Date: 10/28/19 7:05 PM (GMT-08:00)
To: 'michelamar046' <michelamar046@gmail.com>
Subject: RTO ?
Hello Michel,
I see that the Sept 6th circular is null and void; I hope this next circular has sweetened the pot, to ensure a positive vote. Many of us harboured thoughts of too much greed from the Digihost
side; if you take this personally I’m sorry; you’ve been, all in all, a straight shooter with me but the reality of this RTO leaves a bad taste for many, if not all of us shareholders.
Cheers, Don
Donald J. Cutrell
e marpoleblue@shaw.ca
t 604-535-5834
c 778-628-3097
None what's so ever.
Hashchain Technology Inc. Cancels and Reschedules Annual
and Special Meeting
(TheNewswire)
Vancouver, BC - TheNewswire – October 25, 2019 – HashChain Technology Inc. (“HashChain” or the “Company”) (TSXV:KASH) (OTC:HSSHF) announces that the annual general and special meeting (the “Meeting”) of shareholders to be reconvened today was cancelled and will be rescheduled. The cancellation and rescheduling will provide adequate time to amend and reissue the original management information circular (the “Original Circular”) dated September 6, 2019, which was mailed to all shareholders as of the record date on August 15, 2019. The Original Circular is null and void.
Notice of the date, time and location of the rescheduled Meeting will be provided shortly to all shareholders and the Company will issue a new management information circular (the “New Circular”) in advance of the rescheduled Meeting. The New Circular will be filed on SEDAR and will include amended and restated disclosure with respect to the reverse takeover transaction (the “Proposed Transaction”) with Digihost International, Inc.
Trading Halt
HashChain’s shares are currently halted from trading and are not expected to resume trading until the TSX Venture Exchange (the “TSXV”) completes its review of the Proposed Transaction.
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in New Circular prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of HashChain should be considered highly speculative.
The TSXV has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this news release.
Additional Information
For further information, please contact:
HashChain Technology Inc.
Paul Ciullo, Chief Financial Officer
T: 607-760-7870
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Copyright (c) 2019 TheNewswire - All rights reserved.
It should be.
Kash is still not trading on the TSX Exchange
Subject: FW: RTO
I guess we’re getting close…one way or another!
From: michelamar046 [mailto:michelamar046@gmail.com]
Sent: Thursday, October 24, 2019 9:23 AM
To: Don J Cutrell
Subject: Re: RTO
Waiting for exchange to approve or not the deal
.should find out today
Sent from my Verizon, Samsung Galaxy smartphone
-------- Original message --------
From: Don J Cutrell <marpoleblue@shaw.ca>
Date: 10/24/19 12:11 PM (GMT-05:00)
To: 'michelamar046' <michelamar046@gmail.com>
Subject: Re: RTO
Good Morning Michel,
Your responses to my inquiries seem vague; has the RTO been defeated or accepted?
Does the exchange tally the vote count? I realize I’m being a pain, but any info would be great.
Cheers, Don
Donald J. Cutrell
e marpoleblue@shaw.ca
t 604-535-5834
c 778-628-3097
Forwarded to me by a KASH shareholder
From: michelamar046 [mailto:michelamar046@gmail.com]
Sent: Thursday, October 17, 2019 6:38 PM
To: Don J Cutrell
Subject: Re: RTO
Hello,
Looks like the exchange is not in a rush .
Sent from my Verizon, Samsung Galaxy smartphone
-------- Original message --------
From: Don J Cutrell <marpoleblue@shaw.ca>
Date: 10/17/19 5:40 PM (GMT-08:00)
To: 'michelamar046' <michelamar046@gmail.com>
Subject: Re: RTO
Hello Michel,
We need some answers; what’s going on!
Donald J. Cutrell
Delayed
Vancouver, BC – TheNewswire - October 15, 2019 – HashChain Technology Inc. (“HashChain” or the “Company”) (TSXV:KASH); (OTC:HSSHF) announces that the annual general and special meeting (the “Meeting”) of shareholders was held on October 11, 2019, and adjourned until October 25, 2019 at 10:00 a.m. (Vancouver Time). Other than the approval of the re-appointment of the Company’s auditor, no business was conducted at the Meeting.
The purpose of the adjournment is to provide additional time for HashChain shareholders to review the Company’s Meeting materials, including the management information circular dated September 6, 2019 (the “Circular”), as well as forthcoming supplemental disclosure to the Circular required in connection with the ongoing review of the TSX Venture Exchange (the “TSXV”) of the reverse takeover transaction (the “Proposed Transaction”) with Digihost International, Inc. Shareholders are encouraged to continue to submit their proxies or to attend the reconvened Meeting, which will begin at 10:00 a.m. (Vancouver Time) on October 25, 2019 at the offices of Stikeman Elliott LLP, 666 Burrard Street, Suite 1700, Vancouver, BC V6C 2X8.
The record date and location for the reconvened Meeting remain unchanged. All proxies submitted to date remain valid, including those submitted after the original deadline for the Meeting. In order for a vote by proxy to be counted at the reconvened Meeting, a proxy must be submitted before 10:00 a.m. (Vancouver Time) on Wednesday, October 23, 2019 to Computershare Investor Services Inc.
I do not have a clue what the voting results will be.
What planet do you live on HASH did not trade today according to RBC Action Direct it last traded at .015 not .16 it has been a very long time since it traded at that price.
With only 3000 shares worth $46.50 traded you call that stock manipulation. LOL!!
BITCOIN PRICE CHAOS AS CRYPTOCURRENCY LOSES A FIFTH OF ITS VALUE IN MYSTERIOUS RAPID CRASH
https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-crash-today-cryptocurrency-value-latest-explained-a9122951.html?fbclid=IwAR3d9at8SRGEfkh4vkbIZyCvL8Y2FsTGSY4twvM6e72geXt-rZgA8Ph8AjU
$1388 worth of stock traded and you call that price manipulation LOL!!
I tried to get Amar to agree to a 20-1 RTO and was very unsuccessful at it.
He said Hash's mining rigs are becoming out dated needing to be replaced making the company less valuable as a merger company.
What a joke what price manipulation, who should go to jail the buyer or the seller of the $234.90 worth of shares today. LOL!!
You have just described what would happen in a best case scenario if the RTO does not take place.
Vote Yes!
Got my voting material today and voted via telephone.
A post on FB
I just talked to Amir ....and all you No voters are out to lunch. Basically all this talk about profitable over 8000 was at a different difficulty rate. Once you factor the hosting fee we are around break even, however we won't owe that hosting fee after the merger..... Patrick is not working for us anymore because there is no money to pay people and he's gone onto things that can pay his bills....all major share holders will be voting in favour of the deal. If the deal doesn't go through we are definelty going into bankruptcy due to the fact there is no money left. ......I believe what he said and will be voting Yes, i hope people will smarten up do the same and if they don’t like what digihost is doing sell when we resume trading...best of luck.
The conversations I have with the CEO Michel Amar of Digihost. Listening to the vision they have for the merged companies. The integration of Blockchain with Crypto currencies in the operation of International companies some of which they have achieved already.
The fact that they are a hosting company for mining companies guaranteeing a profit that few can claim in the sector.
I am taking the path of least risk with a brighter future then a stand-alone Hashchain with a questionable one. I am voting YES for the RTO.
In anticipation of the new RTO shares going higher due to a smaller float and the catch up that will take place after the trading halt is removed.
After having had several conversations with the CEO of Digihost. Listening to the vision they have for the merged companies. The integration of Blockchain with Crypto currencies in the operation of International companies some of which they have achieved already.
The fact that they are a hosting company for mining companies guaranteeing a profit that few can claim in the sector. I am taking the path of least risk with a brighter future then a stand alone Hashchain with a questionable one. I am voting YES for the RTO.
Hashchain Technology Inc. Update
HashChain Technology Inc. Announces Update to Anticipated Directors Following Proposed Reverse Takeover Transaction with Digihost International, Inc.
https://stockhouse.com/news/press-releases/2019/09/17/hashchain-technology-inc-announces-update-to-anticipated-directors-following
My post on FB.
Joel I also talked to Amar about Digihosts present endeavors and the vision it has for the future with Hashchain should the RTO be successful. I like their integration of block chain with crypto currencies. Involving international companies. Printed Digihosts explanational material is being prepared to be sent to shareholders prior to the vote.
Post of a member of Hashchain's FB group... I just talked to Amir ....and all you No voters are out too lunch. Basically all this talk about profitable over 8000 was at a different difficulty rate. Once you factor the hosting fee we are around break even, however we won't owe that hosting fee after the merger..... Patrick is not working for us anymore because there is no money to pay people and he's gone onto things that can pay his bills....all major share holders will be voting in favour of the deal. If the deal doesn't go through we are definelty going into bankruptcy due to the fact there is no money left. ......I believe what he said and will be voting Yes, i hope people will smarten up do the same and if they dont like what digihost is doing sell when we resume trading...best of luck.
MEETING REQUEST for KASH SHAREHOLDERS:
Good afternoon,
Mr. Amar & Digihost would like to offer one-on-one calls this Monday, September 16 for KASH Shareholders. It is understood that your time is valuable, so with that said, will keep these one-on-one meetings to 15 minutes or less. We kindly encourage Shareholders to book a time this Monday to address any questions. You may do so by emailing amarsassistant@gmail.com with your preferred meeting time. Please be sure to note your Time Zone.
Mr. Amar and Digihost would like to thank everyone for their patience. We understand this has been a long process, of which we are nearing the finish. We look forward to speaking on Monday.