Hydro66 Engages Integral Wealth Securities Limited for Market Maker Services
Toronto, Ontario--(Newsfile Corp. - August 1, 2018) - Hydro66 Holdings Corp (CSE: SIX) ("Hydro66" or "the Company") is pleased to announce that, subject to regulatory approval, it has retained Integral Wealth Securities Limited ("Integral") to provide market making services to the Company in compliance with the policies and guidelines of the CSE and other applicable legislation.
Integral will trade shares of Hydro66 on the CSE with the objective of maintaining a reasonable market and improving the liquidity of Hydro66's common shares. Under the terms of the agreement, Integral will receive $5,000 per month. The agreement is effective August 1, 2018 and will continue in effect for an initial term of 3 months, renewable thereafter on a monthly basis. There are no performance factors contained in the agreement and Integral will not receive shares or options as compensation. Integral and the Company are unrelated and unaffiliated entities, but Integral may provide investment banking services to the Company and Integral and/or its clients may have an interest, directly or indirectly, in the securities of the Company.
Integral is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and can access all CSE and alternative trading systems. The capital and securities required for any trade undertaken by Integral as principal will be provided by Integral.
For further information please contact:
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 11.2 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.
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.
Neither the CSE nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.