HashChain Technology Announces 2:1 Forward Split
VANCOUVER, January 23, 2018 - HashChain Technology Inc. (TSXV: KASH) (“HashChain” or the "Company") is pleased to announce that it proposes to split its common shares on a two-for-one basis (the “Forward Split”). The record date of the Forward Split will be February 5, 2018, subject to TSX Venture Exchange approval.
Management of the Company believes that the Forward Split will provide increased liquidity to shareholders and promote broader share ownership, which is expected to be beneficial to the Company’s shareholders.
The Forward Split will result in the Company's current issued and outstanding share capital of 55,327,508 shares, as of the date of this news release, being increased to 110,655,016 issued and outstanding shares. The Forward Split is being conducted on a push-out basis. The Company’s CUSIP number and trading symbol will remain the same.
Any outstanding share purchase warrants and stock options will be adjusted by the same two-for-one ratio and the respective exercise prices of outstanding warrants and stock options will be adjusted accordingly.
Shareholders of the Company do not need to take any action with respect to the Forward Split. The Company’s transfer agent will send registered shareholders a DRS advice or share certificate representing the additional number of shares to be received as a result of the Forward Split.
About HashChain Technology Inc.
HashChain is a Blockchain mining company, and the first publicly traded (TSXV:KASH) 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, have received 770 Bitcoin Rigs and has entered into a purchase order for an additional 5,000 Rigs. Once all Rigs are operational HashChain will be consuming approximately 8.7 megawatts of power. HashChain also acquired a Dash Masternode for approximately USD $280,000 which requires a collateral investment of 1,000 Dash coins. HashChain is based in Vancouver, British Columbia. HashChain Mining is a wholly owned subsidiary of HashChain Technology Inc. based out of Albany, New York.
For further details of the Company's business, please refer to the Company's final prospectus dated December 12, 2017, which is available on the Company's SEDAR profile at www.sedar.com or visit http://www.hashchain.ca.
On Behalf of the Board,
CEO & Director
For Further information please contact:
HashChain Technology Inc.
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 Company’s expected Forward Split 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, including that the Company will obtain TSX Venture Exchange approval to complete the Forward Split as planned. 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. Such risk factors may include, among others, the risk that the Company will not be able to complete the Forward Split as planned. 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.