TORONTO & BROSSARD, Québec--(BUSINESS WIRE)--Bitfarms Ltd. (“Bitfarms”, or the “Company”) (TSXV:BITF), is pleased to announce that it has retained Hybrid Financial Ltd. (“Hybrid”) to provide investor relations and marketing services to the Company. Hybrid has been engaged to heighten market and brand awareness for Bitfarms and to broaden the Company's reach within the investment community.
Hybrid has been engaged by the Company for an initial term of six months beginning October 2, 2019 (the “Initial Term”) which may be renewed for additional three-month terms thereafter, at the discretion of the Company in accordance with the agreement. Hybrid will be paid a monthly fee of C$18,750, plus applicable taxes, during the Initial Term. Hybrid is arm’s length to the Company and does not currently own any securities of the Company. However, Hybrid has committed to purchase common shares in the event the Company issues shares pursuant to a future public offering. All services provided by Hybrid will comply with applicable securities laws and the policies of the TSX Venture Exchange.
About Bitfarms Ltd.
The Company owns and operates computing centres that power the global decentralized financial economy. Bitfarms provides computing power to cryptocurrency networks such as Bitcoin, earning fees from each network for securing and processing transactions. Powered by clean and competitively priced hydroelectricity, Bitfarms operates 5 computing centres in Québec, Canada. Bitfarms’ experienced management team includes industrial-scale data centre operators and capital markets professionals, focused on building infrastructure for the future by developing and hosting the ecosystem growing around blockchain-based technologies.
About Hybrid Financial Ltd.
Hybrid is a sales and distribution company that actively connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.
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Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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.
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The forward-looking statements contained in this press release are made as of the date of this press release. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.