Canadian listed mining company Hut 8 Mining completes equity financing of more than $8.3 million

Canadian listed mining company Hut 8 Mining announced last week that it has completed equity financing of more than $8.3 million. The company’s interim CEO Jimmy Vaiopoulo said, “We have completed an oversubscription and publicly sold US$8.3 million in stock. The net proceeds from this issue will be used to upgrade existing mining equipment to chips with higher efficiency. “Lianwen previously reported that in early June, Hut 8 Mining announced that it had submitted a preliminary prospectus for the company’s stock public offering in order to raise at least $7.5 million in funding. The offering will be sold at a price of US$1.45 per unit, and each unit will consist of 1 ordinary share and 1 share certificate of the company. Each share certificate will give its holder the right to purchase one ordinary share of the company at an exercise price of $1.80 per share within 18 months.