HashChain Technology Inc. (TSXV:KASH, OTCQB:HSSHF) is pleased to announce it has entered into definitive share purchase agreements to complete the previously disclosed acquisition of 5,000 new Antminer S9 Rigs (“Rigs”) through the acquisition (the “Acquisition”) of two crypto currency mining companies (“Targets”). HashChain will acquire all of the issued and outstanding shares of the Targets for an aggregate of 55 million HashChain shares at a deemed price of $0.35 per share (the “HashChain Shares”) for a total aggregate consideration of $19.25 million. The Acquisition continues the Company’s large-scale growth of mining operations from 100 Rigs to 9,495 Rigs since listing on the TSXV on December 15, 2017.

Purchase Price Allocation

  • – 5,000 Rigs at $1,500 CDN per Rig equals $7,500,000;

    – 7.5 Megawatts (“MW”) installed for $700,000 per MW equals $5,250,000;

    – 5 year commitment from existing Target management at $300,000 per year equals $1,500,000;

    – 15 MW facility commitment for 4 years equals $2,000,000; and

    – Goodwill equals $3,000,000

Terms of the Agreement

  • – 22,000,000 HashChain Shares issued on the closing date of the Acquisition (the “Closing Date”);

    – 11,250,000 HashChain Shares issued on the date the 5,000 Rigs are installed in a facility located in Buffalo, New York;

    – 5,250,000 HashChain Shares 90 days from the Closing Date; and

    – 16,500,000 HashChain Shares 120 days from the Closing Date

“Despite being founded only 6 months ago, HashChain has committed to long-term growth by acquiring the 5,000 mining Rigs to cap an impressive timeline of milestones for our young company and deliver on our promises to shareholders,” says Patrick Gray, CEO of HashChain. “Moving forward, we plan to build upon this incredible momentum with our mining operations and anticipate high ROI with minimal downtime.”

HashChain currently deploys 3,495 Rigs for approximately 4.6 MW of computing power, with an additional 1,000 Rigs awaiting installation. The 5,000 Rigs secured from this agreement provides HashChain with a total of 9,495 Rigs, which will bring total operations to 15 MW of power. To ensure geographic diversity and create redundancy in the Company’s mining operations, HashChain has opened a new Buffalo, NY data center that currently operates 2,395 of their Rigs and is expected to receive the 5,000 Rigs from the Acquisition.

Further to the previously disclosed acquisition of NodeMonitor.IO on May 22, 2018, the Company will issue such number of shares with an aggregate value of US$10,000 to the vendor of NodeMonitor.IO periodically over a period of one year from the date of the purchase agreement.

The Company has granted a total of 1.09 million stock options to certain employees and consultants of the Company pursuant to the Company’s stock option plan. The options are exercisable for a period of five years at a price of 30 cents per share and will vest immediately upon issuance.

About HashChain Technology Inc.

HashChain is a blockchain company, and the first publicly traded (TSXV: KASH; OTCQB: HSSHF) Canadian cryptocurrency mining company to file a final prospectus supporting highly scalable and flexible mining operations across all major cryptocurrencies. HashChain taps low-cost North American power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the number of mining ‘wins.’ HashChain currently operates 100 DASH mining Rigs and 3,395 Bitcoin Rigs with an additional 6,000 to be deployed upon successful completion of its recently announced acquisitions. Once all Rigs are operational HashChain will be consuming approximately 12.5 megawatts of power. HashChain also acquired two Dash Masternodes, which requires a collateral investment of 1,000 DASH coins for each Masternode. Diversifying its business strategy beyond crypto mining, the Company recently acquired NODE40, a blockchain technology company that developed NODE40 Balance, a new SaaS product making cryptocurrency tax reporting simpler and more accurate. The solution allows cryptocurrency users and traders to accurately report their capital gains and losses. NODE40 is also one of the leading masternode server-hosting providers for the Dash network and is seeking additional alternate coin masternode hosting.

HashChain Mining is a wholly owned subsidiary of HashChain Technology Inc. based out of Albany, New York, and an office in Vancouver, British Columbia.

On Behalf of the Board,

Patrick Gray

CEO & Director

For Further information please contact:

HashChain Technology Inc.

Larry Heinzlmeir

Vice President, Marketing & Communications



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the anticipated benefits to the Company of the anticipated performance of a total of 9,495 Rigs, the expected timing of delivery, the successful completion of the Acquisition and installation of 5,000 rigs by the end of 2018, and expectations regarding future operations may constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company, the 9,495 Rigs will perform as expected by management, the Company will successfully complete the Acquisition, the 5,000 Rigs will be successfully delivered and deployed and the timing of delivery of the 5,000 Rigs will be consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements; the risk that the 9,495 Rigs will not perform as expected by management, the risk that the Company will not complete the Acquisition and the risk that the 5,000 Rigs will not be successfully delivered and deployed. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Click here to connect with HashChain Technology Inc. (TSXV:KASH, OTCQB:HSSHF) for an Investor Presentation. 

Source: www.thenewswire.com

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

Keep reading... Show less

Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

Keep reading... Show less

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less

As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

Keep reading... Show less