Fintech PR
Independent Proxy Advisory Firm Glass Lewis Recommends Hut 8 Shareholders Vote for Merger of Equals with US Bitcoin Corp
Votes must be received no later than 4 p.m. ET September 8, 2023
TORONTO, Aug. 30, 2023 /PRNewswire/ — Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT), (“Hut 8” or the “Company“) one of North America’s largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure providers, announced today that Glass Lewis & Co. (“Glass Lewis“), the second-largest American proxy advisory services company in North America, has recommended that Hut 8 shareholders vote in favour of the resolutions approving the proposed business combination (the “Transaction“) with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC“).
The recommendation comes as Hut 8 continues to make progress on the Transaction, pursuant to which Hut 8 and USBTC will combine in an all-stock merger of equals. The combined company will be named Hut 8 Corp. (“New Hut“) and will be a U.S.-domiciled entity. New Hut intends to list its shares on Nasdaq and the TSX under the trading symbol “HUT” following the completion of the Transaction, subject to the approval of Nasdaq and the TSX. The Transaction is expected to establish New Hut as a large scale, publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices.
New Hut’s combined balance sheet is expected to provide New Hut with greater financial stability, enhance its ability to navigate market cycles and increase its ability to expand and invest in new opportunities.
This recommendation follows Institutional Shareholder Services Inc., the world’s leading provider of corporate governance and responsible investment solutions, recommending that Hut 8 shareholders vote in favour of the resolutions. The details of that announcement can be found here.
“As we continue to make progress toward closing the Transaction with USBTC, we are very pleased that Glass Lewis has recommended Hut 8 shareholders vote in favour of all resolutions to establish New Hut,” said Jaime Leverton, CEO of Hut 8. “With the two top proxy advisory firms in North America advising shareholders to approve this merger, we look forward to completing this Transaction and forming a strengthened, dynamic business backed by both Bitcoin and fiat revenues generated from robust North America-wide operations.”
The completion of the Transaction is subject to certain conditions, including the receipt of the requisite approval from the shareholders of Hut 8 and the stockholders of USBTC, the final order of the Supreme Court of British Columbia at an application which is scheduled for September 15, 2023, USBTC’s registration statement becoming effective, and other closing conditions customary in transactions of this nature. If all necessary approvals are obtained and the conditions to the completion of the Transaction are satisfied or waived, it is currently anticipated that the Transaction will be completed by September 30, 2023.
All shareholders of record have been sent their confidential control number by mail. Any shareholders who have any questions, or who have not received their control number should contact our proxy solicitation agents, Alliance Advisors, at 1-888-511-2641 toll free in North America or by email at [email protected].
Shareholders can vote in the following ways:
- Online at proxyvote.com using the control number sent to the shareholder address on file
- By telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French)
- By mail by returning the voting instruction form that has been sent to the shareholder address on file
If you are an institutional Hut 8 shareholder, and have any issues or questions, contact Morrow Sodali at 1-888-777-2059 toll free in North America, outside of North America call collect 1-289-695-3075 or by email at [email protected].
Through innovation, imagination, and passion, Hut 8’s seasoned executive team is bullish on building and operating computing infrastructure that powers Bitcoin mining, traditional data centres, and emerging technologies like AI and machine learning. Hut 8’s infrastructure portfolio includes seven sites: five high performance computing data centres across British Columbia and Ontario that offer cloud, co-location, managed services, A.I., machine learning, and VFX rendering computing solutions, and two Bitcoin mining sites located in Southern Alberta. Long-distinguished for its unique treasury strategy, Hut 8 has one of the highest inventories of self-mined Bitcoin of any publicly-traded company globally. Follow us on X (formerly known as Twitter) at @Hut8Mining.
This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the Company’s businesses, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” or similar expressions. In addition, any statements in this press release that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information and include, among others, statements with respect to the expected outcomes of the Transaction, including the combined company’s assets and financial position; the ability of Hut 8 and USBTC to complete the Transaction on the terms described herein, or at all, including, receipt of required regulatory approvals, shareholder approvals, court approvals, stock exchange approvals and satisfaction of other closing customary conditions.
Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, security and cybersecurity threats and hacks, malicious actors or botnet obtaining control of processing power on the Bitcoin network, further development and acceptance of the Bitcoin network, changes to Bitcoin mining difficulty, loss or destruction of private keys, increases in fees for recording transactions in the Blockchain, erroneous transactions, reliance on a limited number of key employees, reliance on third party mining pool service providers, regulatory changes, classification and tax changes, momentum pricing risk, fraud and failure related to digital asset exchanges, difficulty in obtaining banking services and financing, difficulty in obtaining insurance, permits and licenses, internet and power disruptions, geopolitical events, uncertainty in the development of cryptographic and algorithmic protocols, uncertainty about the acceptance or widespread use of digital assets, failure to anticipate technology innovations, the COVID19 pandemic, climate change, currency risk, lending risk and recovery of potential losses, litigation risk, business integration risk, changes in market demand, changes in network and infrastructure, system interruption, changes in leasing arrangements, failure to achieve intended benefits of power purchase agreements, potential for interrupted delivery, or suspension of the delivery, of energy to the Company’s mining sites, and other risks related to the digital asset and data centre business. For a complete list of the factors that could affect the Company, please see the “Risk Factors” section of the Company’s Annual Information Form dated March 9, 2023, and Hut 8’s other continuous disclosure documents which are available on the Company’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and on the EDGAR section of the U.S. Securities and Exchange Commission’s website at www.sec.gov.
Hut 8 Investor Relations: Sue Ennis, [email protected]; Hut 8 Media Relations: Erin Dermer, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/independent-proxy-advisory-firm-glass-lewis-recommends-hut-8-shareholders-vote-for-merger-of-equals-with-us-bitcoin-corp-301913506.html
PORT VILA, Vanuatu, Oct. 18, 2024 /PRNewswire/ — Vantage Markets (or “Vantage”) is pleased to announce the launch of the Vantage First Class Promo, an exclusive event marking 15 years of successful trading with traders in selected regions. This promotion serves as a gesture of appreciation to Vantage’s traders, offering premium gifts and highlighting the company’s ongoing commitment to fostering growth in these fast-developing markets. With prizes valued up to USD 111,000, the initiative underscores Vantage’s dedication to its global trading community.
The Vantage First Class Promo includes an array of high-value rewards. The most notable prizes include the Mercedes Benz C220, a luxury trip to Japan for two, the Cartier Tank Must watch, and the Leica M11 Monochrom camera. These prestigious offerings reflect Vantage’s continuous efforts to elevate the trading experience while acknowledging the loyalty and support of its traders over the years.
To participate, eligible traders are required to deposit the qualifying amount within the promotion period and engage in trading key assets such as Forex, Gold, Silver, or Crude Oil. Over the past 15 years, Vantage has remained committed to delivering trading excellence, and this promotion is a continuation of that legacy.
“The Vantage First Class Promo is our way of acknowledging 15 years of unwavering support from our traders. We are excited to offer these exceptional rewards as we strengthen our position in economically dynamic regions,” said Lian J, User Growth Director at Vantage Markets.
This promotion provides an opportunity for traders to enjoy the benefits of Vantage’s platform while being rewarded for their support. For more details on how to participate, please visit the Vantage App. Terms and Conditions apply.
About Vantage
Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.
With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.
trade smarter @vantage
RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment. VFSC 700271.
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With participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative
Eruditus, the parent company of Emeritus, closes funding round to deepen investment in AI products and accelerate growth of enterprise business after achieving profitability
MUMBAI, India, Oct. 18, 2024 /PRNewswire/ — Eruditus, the global leader in making high-quality education accessible and affordable to individuals, companies, and governments around the world, announced today that it has raised a $150 million Series F fundraise led by TPG’s The Rise Fund, the multi-sector strategy of TPG’s global impact investing platform, with participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative. This highlights the company’s remarkable growth and impact through continuous innovation in high-quality career-oriented education across the globe. The raise comes on the heels of a banner year for Eruditus in which the company was named the #1 Global EdTech by Time and achieved profitability on a full-year basis.
The funding bolsters Eruditus’ global growth and will be used to invest in AI technology to further enrich the learner experience, expand the company’s rapidly growing business serving governments and enterprises and deepen its investments in the India and APAC regions. As the company continues to grow and scale, it eyes future acquisitions and investments, which have historically contributed to impressive topline growth and expansion in strategic markets. Avendus Capital was the exclusive financial advisor for the fundraise.
Eruditus’ mission to make high quality education accessible and affordable around the world has never been more critical. Business today is changing faster than ever—and the AI revolution means it’s set to change even faster. The company is accelerating its investments in technology to harness the power of generative AI to further enrich the learner experience and provide enhanced learning solutions. Eruditus has already launched proprietary AI-powered tutors for students and programs with partner schools. The need for training in the age of AI is driving unprecedented demand for the company’s enterprise solutions that grew revenue 45% last year.
Steve Ellis, a Managing Partner of The Rise Funds, said “Eruditus is expanding access to new education opportunities and giving professionals at all stages of their careers the skills they need to advance and succeed in today’s rapidly changing workplace. Eruditus’ mission aligns with a core investing theme for The Rise Funds, which focuses on backing strong businesses that are opening pathways to high quality education and driving greater lifetime earning potential for their students. We look forward to working with Eruditus to further enhance the platform and scale the business globally.” As part of The Rise Fund’s investment, TPG’s Simit Batra will join Eruditus’ board of directors.
Today, more than 80+ top tier university partners around the world work with Eruditus to create over 700 professional learning programs delivered to more than 1 million individuals in 80+ countries. The company’s industry-driven certification programs, professional certificates, and workforce leadership development initiatives are defined by personal engagement between faculty and students, course customization, mentoring and coaching, and career counseling. The results are evident in course completion rates of 85% for their professional learners.
“With this investment, we’re excited to continue to grow and innovate to meet market demand,” said Ashwin Damera, CEO, Eruditus and Emeritus. “In a rapidly evolving business environment, we have reimagined education by bringing programs from the world’s leading universities to learners around the globe. Education is the key to transformation, for individuals, companies, and society and we’re appreciative of the support of our investors who enable us to accelerate our growth.”
About Eruditus
Eruditus, the parent company of Emeritus, is committed to teaching the skills of the future by making high-quality education accessible and affordable to individuals, organizations, and governments worldwide. It does this by collaborating with more than 80 top-tier universities across the United States, Europe, Latin America, Southeast Asia, India, and China. Eruditus’ short courses, degree programs, professional certificates, and senior executive programs help individuals learn new skills and transform their lives, companies, and organizations. Its unique model of state-of-the-art technology; curriculum innovation; and hands-on instruction from senior faculty, mentors, and coaches has educated more than 1 million individuals across 80+ countries. The Eruditus Group has more than 1,750 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. The company is backed by TPG, the Chan Zuckerberg Initiative, Leeds Illuminate, Prosus Ventures, GSV Ventures, Peak XV, Bertelsmann, CPP Investments, Accel and SoftBank Vision Fund 2. For more information, please visit www.Emeritus.org.
About The Rise Funds
The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations’ Sustainable Development Goals. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and conservation, education, food and agriculture, financial inclusion, healthcare, and impact services.
With approximately $19 billion in assets across The Rise Funds, TPG Rise Climate, and the Evercare Health Fund, the TPG Rise platform is one of the world’s largest private markets impact investing platforms committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns.
For more information, visit therisefund.com.
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LIMASSOL, Cyprus, Oct. 18, 2024 /PRNewswire/ — XTrend, a global leader in online trading solutions, is proud to announce its role as the Gold Sponsor for the Dancing Queen Foundation’s (DQ Foundation) 16th Annual Charity Walk, an event dedicated to raising funds and promoting social awareness for children and teenagers’ psychological well-being in Cyprus.
The DQ Foundation, a non-profit organization committed to making a meaningful difference in the lives of young people, focuses on enhancing their mental health and overall quality of life. Through its initiatives, the foundation strives to create a supportive environment for children and teenagers, offering resources and programs that foster emotional resilience, growth, and well-being.
XTrend, known for its innovative trading platform and commitment to social responsibility, is honored to support this vital cause. The company’s involvement as Gold Sponsor highlights its dedication to contributing positively to the communities it operates in. The partnership with DQ Foundation aligns with XTrend’s mission to promote positive change and well-being beyond the financial sector.
“At XTrend, we believe in the importance of mental health, especially for the younger generation. Partnering with the DQ Foundation allows us to extend our impact by supporting initiatives that directly improve the lives of children and teenagers in Cyprus,” said Michael Rezaie, CEO of XTrend. “We are honored to stand by the DQ Foundation as they continue their vital work in nurturing the psychological well-being of these young individuals.”
The 16th Annual Charity Walk will bring together participants from all over Cyprus and beyond, with the goal of raising significant funds to support the foundation’s ongoing programs. Proceeds from the event will go towards funding critical mental health programs and services for children and teenagers, including counseling, educational workshops, and other support systems aimed at improving their psychological well-being.
XTrend remains committed to making a positive social impact and looks forward to continuing its support for local communities through similar initiatives. This sponsorship further underscores the company’s dedication to giving back and driving positive change for future generations.
About XTrend
XTrend is a leading online trading platform, offering cutting-edge technology and access to a wide range of financial markets. With a focus on user experience and innovation, XTrend provides traders with the tools and resources they need to succeed in today’s dynamic financial landscape.
Warnings: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 57.14% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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