Hydro66 Announces Listing on United States OTC Market
Toronto, Ontario--(Newsfile Corp. - January 11, 2019) - Hydro66 Holdings Corp. (CSE: SIX) (OTCQB: HYHDF) ("Hydro66" or the "Company") a leading provider of ultra-efficient, green and cost-effective data center services is pleased to announce that the OTC Markets Group has approved the trading of the Company's shares on its OTCQB Venture Market and will commence trading under the symbol "HYHDF" on January 11, 2019. The Company's common shares will continue to trade on the Canadian Securities Exchange under the symbol "SIX" and on the Frankfurt Stock Exchange under the symbol "5CR".
Additionally, the Company is also in the process of applying for eligibility to the Depository Trust Company ("DTC"), to facilitate electronic settlement of transfers of its common shares in the United States. DTC is a subsidiary of the Depository Trust and Clearing Corporation ("DTCC") and manages the electronic clearing and settlement of securities of publicly traded companies in the United States. DTC eligibility will simplify the process of trading and is expected to enhance the liquidity of the Company's common shares on the OTC market.
Anne Graf, CEO, commented "The US-based cross-listing will help Hydro66 to access a broader range of institutional and retail investors and will provide US investors with access to the Company's securities through a recognized US marketplace."
For further information please contact:
|Anne Graf||Paul Morrison||Jason Atkinson|
|CEO||Chief Commercial Officer||Director, Corporate Development|
Hydro66 owns and operates a colocation data center In Sweden specializing in High Performance Computing ("HPC") hosting. The Company hosts third party IT infrastructure, utilizing 100% green power, at amongst the EU's lowest power prices and within an ISO27001 accredited facility. The Company is continuing to expand its footprint, with a growth plan in place to expand the current facility from 19.2 MW to 40 MW.
Hydro66 is uniquely positioned to capitalize on opportunities in blockchain infrastructure as well as the traditional enterprise colocation data center market. The Company provides truly green power at a leading price, purpose-built space and cooling, telecoms, IT support services and 24/7 physical security in their facility in Boden, Sweden.
Revenues are generated from colocation data center services to hashrate service companies and traditional enterprise companies as well as digital currency self-mining (GPU and/or ASIC). Combining the above provides steady, diversified revenue with strong margins. A flexible and rapid build-out schedule will allow Hydro66 to rebalance between business lines as market conditions evolve.
Hydro66 is run by a team with decades of technical expertise in data center facility design, construction, operation and more recently blockchain infrastructure and hashrate services.
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Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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