MGT Capital Investments Inc. (MGTI): MGTI in Sweden: As previously reporte...

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MGT Capital Investments Inc. (MGTI)

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Re: ResearchDD post# 31927

Thursday, 10/18/2018 12:04:35 PM

Thursday, October 18, 2018 12:04:35 PM

MGTI in Sweden:

As previously reported in the Company’s Form 10-Q for the quarterly period ended June 30, 2018 as filed with the Securities and Exchange Commission on August 14, 2018, the Company learned on May 16, 2018 that Beacon Leasing LLC (“Beacon”) was in default under that certain Hosting Agreement between the Company and Beacon with respect to the Company’s facility in Northern Sweden due to Beacon’s failure to pay certain service providers to the facility including the electric utility. As a result of these defaults, effective September 24, 2018, the Company has shut down its operations in Sweden while it seeks a new location to deploy its Bitcoin mining machines that had been located at such facility.

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