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Northern Bitcoin AG / Key word(s): Merger
NORTHERN BITCOIN AG AGREES MERGER WITH WHINSTONE US, INC. BY CAPITAL INCREASE AGAINST CONTRIBUTION IN KIND

18-Nov-2019 / 18:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

AD HOC RELEASE

NORTHERN BITCOIN AG AGREES MERGER WITH WHINSTONE US, INC. BY CAPITAL INCREASE AGAINST CONTRIBUTION IN KIND

Frankfurt on the Main, November 18, 2019. Northern Bitcoin AG (Xetra: NB2, ISIN: DE000A0SMU87) and the shareholders of Whinstone US have agreed on a merger of Whinstone US with Northern Bitcoin AG. Whinstone US operates specialized data centers for blockchain applications such as Bitcoin mining. The Whinstone team has a successful track record in Bitcoin mining since 2014 and is currently building in the USA the largest mining facility worldwide with a capacity of one gigawatt on an area of over 100 acres. Whinstone US is to be contributed to Northern Bitcoin AG by issuing 3,720,750 shares from the authorized capital under exclusion of subscription rights as part of a capital increase against contribution in kind. The current shareholders of Whinstone US undertake not to sell (lock-up) the shares from the capital increase against contribution in kind for a period of 36 months without the consent of the Supervisory Board (which can in particular be granted for off-exchange transactions); after expiry of this period 25% of the shares will be released from the lock-up per quarter. The transaction is still subject to a satisfactory due diligence of Whinstone US by Northern Bitcoin AG. It is intended that the Management Board of Northern Bitcoin AG will be expanded at short notice by the management of Whinstone US.

Press contact:
Northern Bitcoin AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
Thurn-und-Taxis-Platz 6
60313 Frankfurt
Mail: h.duerr@northernbitcoin.com
Phone: +49 69 348 752 89

Investor Relations:
Sven Pauly
Mail: ir@northernbitcoin.com
Phone: +49 89 125 09 03 31

18-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Northern Bitcoin AG
Thurn-und-Taxis-Platz 6
60313 Frankfurt/Main
Germany
Phone: +49 69 34 87 52 25
E-mail: info@northernbitcoin.com
Internet: www.northernbitcoin.com
ISIN: DE000A0SMU87
WKN: A0SMU8
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich (m:access), Tradegate Exchange
EQS News ID: 915575

 
End of Announcement DGAP News Service

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Disclaimer

This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities of Northern Data AG and does not constitute a prospectus of Northern Data AG. The information contained in this press release is not intended to form the basis of any financial, legal, tax or other business decision. Investment or other decisions should not be made solely on the basis of this press release. As with all business and investment matters, please consult qualified professional advice. This release and the information contained herein are not for distribution, directly or indirectly, in or into the United States of America, Canada, Australia or Japan.