08/17/2022 | Press release | Distributed by Public on 08/17/2022 14:15
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New Issue
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August 17, 2022
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Canaccord Genuity
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Stifel
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IMPORTANT NOTICE
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| | | | S-1 | | |
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NON-IFRS FINANCIAL MEASURES AND KEY METRICS
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| | | | S-1 | | |
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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| | | | S-3 | | |
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CURRENCY PRESENTATION AND EXCHANGE RATE DATA
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| | | | S-3 | | |
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DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
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| | | | S-4 | | |
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MARKET AND INDUSTRY DATA
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| | | | S-4 | | |
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DOCUMENTS INCORPORATED BY REFERENCE
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| | | | S-4 | | |
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SUMMARY DESCRIPTION OF THE BUSINESS
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| | | | S-7 | | |
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USE OF PROCEEDS
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| | | | S-8 | | |
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PLAN OF DISTRIBUTION
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| | | | S-8 | | |
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CERTAIN CANADIAN FEDERAL INCOME TAX CONSIDERATIONS
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| | | | S-10 | | |
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CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS
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| | | | S-11 | | |
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PRIOR SALES
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| | | | S-15 | | |
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TRADING PRICE AND VOLUME
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| | | | S-16 | | |
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RISK FACTORS
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| | | | S-18 | | |
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LEGAL MATTERS
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| | | | S-24 | | |
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TRANSFER AGENTS AND REGISTRAR
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| | | | S-24 | | |
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AUDITORS
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| | | | S-25 | | |
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ENFORCEMENT OF CIVIL LIABILITIES
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| | | | S-25 | | |
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ENFORCEMENT OF JUDGEMENTS AGAINST FOREIGN PERSONS
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| | | | S-25 | | |
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EXEMPTION
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| | | | S-25 | | |
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ABOUT THIS PROSPECTUS
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| | | | 1 | | |
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NON-IFRS FINANCIAL MEASURES AND KEY METRICS
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| | | | 1 | | |
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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| | | | 1 | | |
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ENFORCEABILITY OF CIVIL LIABILITIES
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| | | | 2 | | |
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FINANCIAL INFORMATION AND CURRENCY PRESENTATION
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| | | | 3 | | |
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WELL-KNOWN SEASONED ISSUER
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| | | | 3 | | |
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WHERE YOU CAN FIND MORE INFORMATION
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| | | | 3 | | |
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DOCUMENTS INCORPORATED BY REFERENCE
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| | | | 3 | | |
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WHERE YOU CAN FIND MORE INFORMATION
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| | | | 5 | | |
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GLOSSARY OF DEFINED TERMS
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| | | | 5 | | |
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SUMMARY DESCRIPTION OF THE BUSINESS
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| | | | 5 | | |
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CAPITALIZATION OF THE COMPANY
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| | | | 7 | | |
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SECONDARY OFFERING BY SELLING SECURITYHOLDERS
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| | | | 7 | | |
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DESCRIPTION OF THE SHARE CAPITAL
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| | | | 7 | | |
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USE OF PROCEEDS
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| | | | 7 | | |
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PLAN OF DISTRIBUTION
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| | | | 8 | | |
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DESCRIPTION OF SECURITIES
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| | | | 8 | | |
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CERTAIN CANADIAN AND U.S. FEDERAL INCOME TAX CONSIDERATIONS
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| | | | 12 | | |
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PRIOR SALES
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| | | | 12 | | |
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TRADING PRICE AND VOLUME
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| | | | 13 | | |
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EARNINGS COVERAGE RATIOS
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| | | | 13 | | |
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RISK FACTORS
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| | | | 13 | | |
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EXEMPTION
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| | | | 24 | | |
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INTEREST OF EXPERTS
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| | | | 24 | | |
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AUDITORS, TRANSFER AGENT AND REGISTRAR
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| | | | 24 | | |
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DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
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| | | | 24 | | |
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PURCHASERS' STATUTORY RIGHTS AND CONTRACTUAL RIGHTS OF RESCISSION
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| | | | 25 | | |
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Six Months ended
June 30, 2022 |
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Six Months ended
June 30, 2021 |
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Year ended
December 31, 2021 |
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Year ended
December 31, 2020 |
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(expressed in Canadian dollars)
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High
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| | | | 1.3039 | | | | | | 1.2828 | | | | | | 1.2942 | | | | | | 1.4496 | | |
Low
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| | | | 1.2451 | | | | | | 1.2040 | | | | | | 1.2040 | | | | | | 1.2718 | | |
Average
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| | | | 1.2715 | | | | | | 1.2470 | | | | | | 1.2535 | | | | | | 1.3415 | | |
Closing
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| | | | 1.2886 | | | | | | 1.2394 | | | | | | 1.2678 | | | | | | 1.2732 | | |
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As at June 30, 2022
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As at June 30, 2022 after giving
effect to the Subsequent Events(1) |
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Long Term Debt
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| | C$19,403,000 | | | C$19,403,000 | |
Share capital (unlimited authorized)
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| | C$714,461,000 | | | C$719,248,000 | |
Warrants
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| | 2,122,000 | | | 2,122,000 | |
Contributed surplus
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| | 13,319,000 | | | 13,053,000 | |
Accumulated Deficit
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| | 220,619,000 | | | 220,619,000 | |
Accumulated other comprehensive income
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| | - | | | - | |
Total shareholders' equity
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| | 509,283,000 | | | 513,804,000 | |
Total capitalization
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| | 528,686,000 | | | 533,207,000 | |
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(192,063,323 Common Shares)
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(194,404,250 Common Shares)
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Date of Issue
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Nature of Issue
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Number of
Common Shares |
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Average
Issue Price |
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August 2, 2022
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Common Shares issued under Employee Share Purchase Plan
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1,502
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C$2.61 per share
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July 18, 2022
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Common Shares issued under employee share purchase plan
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1,858
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C$2.11 per share
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July 4, 2022
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Common Shares issued under employee share purchase plan
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1,990
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C$1.97 per share
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July 2022
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Public offering of Common Shares under an "at-the-market" offering.
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2,331,068
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US$1.62 per share
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June 18, 2022
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Common Shares issued under employee share purchase plan
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1,563
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C$2.11 per share
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June 4, 2022
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Common Shares issued under employee share purchase plan
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1,003
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C$3.14 per share
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June 2022
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Public offering of Common Shares under an "at-the-market" offering.
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14,177,731
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US$1.77 per share
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May 21, 2022
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Common Shares issued under employee share purchase plan
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1,075
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C$3.25 per share
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May 7, 2022
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Common Shares issued under employee share purchase plan
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874
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C$4.69 per share
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May 2022
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Public offering of Common Shares under an "at-the-market" offering.
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3,100,000
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US$2.43 per share
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April 23, 2022
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Common Shares issued under employee share purchase plan
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609
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C$5.38 per share
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April 9, 2022
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Common Shares issued under employee share purchase plan
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519
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C$6.33 per share
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April 2022
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Public offering of Common Shares under an "at-the-market" offering.
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348,659
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US$5.37 per share
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March 26, 2022
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Common Shares issued under employee share purchase plan
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444
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C$7.39 per share
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March 12, 2022
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Common Shares issued under employee share purchase plan
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60
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C$6.77 per share
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March 2022
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Public offering of Common Shares under an "at-the-market" offering.
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4,063,692
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US$5.87 per share
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February 26, 2022
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Common Shares issued under employee share purchase plan
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56
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C$7.25 per share
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February 12, 2022
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Common Shares issued under employee share purchase plan
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43
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C$9.46 per share
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Date of Issue
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Nature of Issue
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Number of
Common Shares |
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Average
Issue Price |
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February 2022
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Public offering of Common Shares under an "at-the-market" offering.
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408,310
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US$7.02 per share
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January 29, 2022
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Common Shares issued under employee share purchase plan
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60
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C$6.88 per share
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January 15, 2022
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Common Shares issued under employee share purchase plan
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48
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C$8.40 per share
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January 1, 2022
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Common Shares issued under employee share purchase plan
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39
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C$10.30 per share
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September 14, 2021
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| | Public offering of Common Shares. | | |
17,550,000
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US$8.55 per share
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Date of Issue
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Number of Common Shares
Issuable upon Exercise of Warrants |
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Exercise Price
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Expiry Date
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September 17, 2021
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70,200
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US$10.69
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September 17, 2026
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Date of Award
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Type of Award
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Number of Common Shares
Issuable upon Vesting |
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March 30, 2022
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restricted share units
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1,206,364
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March 27, 2022
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deferred share unit
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81,192
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March 25, 2022
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restricted share units
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10,000
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March 24, 2022
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restricted share units
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34,000
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August 20, 2021
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restricted share units
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75,000
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Month
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High
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Low
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Average Daily Volume
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August 2021
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US$8.36
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US$4.62
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16,081,457
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September 2021
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US$11.29
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US$7.57
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1,528,014
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October 2021
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US$13.57
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US$8.62
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2,106,786
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November 2021
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US$16.56
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US$11.60
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1,570,643
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December 2021
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US$13.12
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US$7.31
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8,261,719
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January 2022
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US$8.25
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US$4.52
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1,142,743
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February 2022
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US$8.34
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US$4.85
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1,302,996
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March 2022
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US$6.69
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US$4.54
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1,116,233
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April 2022
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US$5.73
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US$3.44
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952,059
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May 2022
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US$4.01
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US$2.11
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1,516,692
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June 2022
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US$2.66
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US$1.29
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1,581,724
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July 2022
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US$2.36
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US$1.28
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1,931,381
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August 1 - August 16, 2022
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US$3.70
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US$1.99
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1,520,494
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Month
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High
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Low
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Average Daily Volume
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August 2021
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C$10.55
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C$5.80
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2,244,089
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September 2021
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C$14.20
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C$9.72
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2,831,187
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October 2021
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C$16.79
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C$10.91
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3,685,907
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November 2021
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C$20.61
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C$14.88
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2,930,331
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December 2021
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C$16.73
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C$9.48
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2,627,305
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January 2022
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C$10.48
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C$5.71
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2,802,576
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February 2022
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| |
C$10.53
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| |
C$6.2
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3,384,689
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March 2022
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C$8.41
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C$5.82
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2,340,765
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April 2022
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C$7.17
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C$4.42
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1,901,053
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May 2022
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C$5.11
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C$2.71
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2,819,851
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June 2022
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C$3.36
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C$1.66
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2,896,120
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July 2022
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C$3.03
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C$1.65
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3,281,011
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August 1 - August 16, 2022
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C$4.77
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C$2.59
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3,762,367
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Name of Person
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Name and Address of Agent
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Bill Tai | | |
Hut 8 Mining Corp., Suite 500, 24 Duncan Street, Toronto, Ontario, Canada, M5V 2B8
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Alexia Hefti | | |
Hut 8 Mining Corp., Suite 500, 24 Duncan Street, Toronto, Ontario, Canada, M5V 2B8
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Rick Rickertsen | | |
Hut 8 Mining Corp., Suite 500, 24 Duncan Street, Toronto, Ontario, Canada, M5V 2B8
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Name of Person
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Name and Address of Agent
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Bill Tai | | |
Hut 8 Mining Corp., Suite 500, 24 Duncan Street, Toronto, Ontario, Canada, M5V 2B8
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Alexia Hefti | | |
Hut 8 Mining Corp., Suite 500, 24 Duncan Street, Toronto, Ontario, Canada, M5V 2B8
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Rick Rickertsen | | |
Hut 8 Mining Corp., Suite 500, 24 Duncan Street, Toronto, Ontario, Canada, M5V 2B8
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DESCRIPTION
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PAGE NO.
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| |||
ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
NON-IFRS FINANCIAL MEASURES AND KEY METRICS
|
| | | | 1 | | |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
|
| | | | 1 | | |
ENFORCEABILITY OF CIVIL LIABILITIES
|
| | | | 2 | | |
FINANCIAL INFORMATION AND CURRENCY PRESENTATION
|
| | | | 3 | | |
WELL-KNOWN SEASONED ISSUER
|
| | | | 3 | | |
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 3 | | |
DOCUMENTS INCORPORATED BY REFERENCE
|
| | | | 3 | | |
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 5 | | |
GLOSSARY OF DEFINED TERMS
|
| | | | 5 | | |
SUMMARY DESCRIPTION OF THE BUSINESS
|
| | | | 5 | | |
CAPITALIZATION OF THE COMPANY
|
| | | | 7 | | |
SECONDARY OFFERING BY SELLING SECURITYHOLDERS
|
| | | | 7 | | |
DESCRIPTION OF THE SHARE CAPITAL
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| | | | 7 | | |
USE OF PROCEEDS
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| | | | 7 | | |
PLAN OF DISTRIBUTION
|
| | | | 8 | | |
DESCRIPTION OF SECURITIES
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| | | | 8 | | |
CERTAIN CANADIAN AND U.S. FEDERAL INCOME TAX CONSIDERATIONS
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| | | | 12 | | |
PRIOR SALES
|
| | | | 12 | | |
TRADING PRICE AND VOLUME
|
| | | | 13 | | |
EARNINGS COVERAGE RATIOS
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| | | | 13 | | |
RISK FACTORS
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| | | | 13 | | |
EXEMPTION | | | | | 24 | | |
INTEREST OF EXPERTS
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| | | | 24 | | |
AUDITORS, TRANSFER AGENT AND REGISTRAR
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| | | | 24 | | |
DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
|
| | | | 24 | | |
PURCHASERS' STATUTORY RIGHTS AND CONTRACTUAL RIGHTS OF RESCISSION
|
| | | | 25 | | |
|
ASIC
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| | An application-specific integrated circuit customized for Bitcoin mining. | |
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Bitcoin
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| |
The peer-to-peer payment system and the digital currency of the same name which uses open source cryptography to control the creation and transfer of such digital currency.
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Bitcoin Network
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The network of computers running the software protocol underlying Bitcoin and which network maintains the database of Bitcoin ownership and facilitates the transfer of Bitcoin among parties.
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Modular Container
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Air-cooled mobile data centres used for the purpose of running diverse cryptographic hash functions in connection with the mining of digital assets, including all related specialized graphics processing unit rigs, associated housing and power supplies, and all required cabling, cooling units and other peripherals, as applicable.
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Blockchain
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| |
A digital ledger in which Bitcoin or other digital asset transactions are recorded chronologically and publicly.
|
|