Good morning, ladies and gentlemen, and welcome to the Hut 8 Mining Corp. Annual Meeting conference call. If at any time during this call you require assistance, please press star zero for the operator. For everyone's benefit, this call is being recorded. I would like to turn the meeting over to Bill Tai, Chair of the Board of Directors of the company. Please go ahead, sir.
Good morning, everyone, and welcome to the Annual General Meeting of shareholders of Hut 8 Mining Corp. This year's meeting is being conducted in a virtual only manner by way of teleconference. My name is Bill Tai, and I am Chair of the Board of Directors of the company. We, as the Board of Directors, have asked our Chief Executive Officer and director of the company, Jamie Leverton, to conduct the meeting as chairperson, and she has accepted. I will now turn it over to Jamie.
Thanks, Bill. Good morning, everyone. My name is Jamie Leverton, CEO of Hut 8 Mining Corp. As with last year, in light of the COVID-19 pandemic and in keeping with the advice of authorities and the practice of many other public companies, the company is conducting a virtual only meeting via teleconference. You will hear me refer to the virtual platform throughout the meeting at various times. This is the Lumi platform through which we are conducting the meeting. As this meeting is held virtually via teleconference, we want to first set out a few guidelines for your attention. Number one, at the start of the Q&A session, should you wish to ask any questions, the operator will provide instructions on how to do so. You will be instructed to press star one on your touch-tone phone to register.
You will hear a three-tone prompt to confirm you are in the queue. The operator will announce each person one by one and open their line to pose their question. Number two, for the purposes of the meeting today, voting on all matters will be conducted by telephone through the virtual platform. The polls will open after each item of business is moved and all registered shareholders and duly appointed proxy holders can follow the instructions from the operator to vote. Number three, only registered shareholders and duly appointed proxy holders present at the meeting shall be entitled to vote on matters put forth before the meeting. Votes will be counted by ballot, and each registered shareholder and duly appointed proxy holder will be entitled to one vote for each share held by such registered shareholder or represented by proxy.
Number four, if you have already voted by proxy and you vote again during this meeting, your vote during the meeting will revoke your previously submitted proxy. If you have already voted by proxy and do not wish to revoke your previously submitted proxy, do not vote again during the ballot. Number five, once the polls are closed, you will no longer be able to change your vote. Your votes will then be automatically submitted. Number six, finally, while we hope to avoid any technology disruptions, these may occur unexpectedly. Our service providers will assist as required. If you require assistance, please press star zero on your touch-tone phone from within the meeting for additional assistance. Your patience is greatly appreciated. Moving on to the appointment of secretary and scrutineer. We will now proceed with the formal portion of today's meeting.
This is an annual meeting of shareholders of Hut 8 Mining Corp. I appoint Erin Dermer , Interim Corporate Secretary of the company, to act as Secretary of the meeting, and Marissa Beintema of Computershare Trust Company to act as scrutineer to compute the votes of any polls taken at this meeting and to report thereon to me. To expedite the formal part of the meeting, I will move all motions, and Shane Downey, Chief Financial Officer of the company, will second all motions. Pursuant to the articles of the company, business may be transacted at this meeting if there are shareholders present in person or represented by proxy who, in the aggregate, hold at least 25% of the voting rights attached to shares entitled to be voted at this meeting, irrespective of the number of persons actually present at the meeting.
In light of the COVID-19 pandemic, the British Columbia government has issued an order stating that meetings of shareholders may be conducted by virtual means. Virtual presence is therefore sufficient for establishing quorum. As this is a virtual only meeting conducted via teleconference, roll call has now been taken and all participants have been registered electronically. On May 17, 2022, the notice calling this meeting of shareholders and business described was sent to all the shareholders of record as at April 29, 2022. For purposes of the meeting, I will take all matters set out in the notice as having been read. Will the scrutineer please submit the report on attendance?
Scrutineer's report has been received, and it shows that there are present at this meeting an aggregate number of shareholders holding or representing by proxy at least 61 million common shares, or approximately 35% of the issued and outstanding shares. As a result, we have quorum for the meeting. Notice having been mailed as required and a quorum being present, I declare that this meeting is duly constituted for the transaction of business. Moving on to financial statements. The first item of business is to receive and consider the company's consolidated financial statements for the period ended December 31, 2021, together with the auditor's report on these statements. Shareholders are not asked to take any action regarding the financial statements. The financial statements and auditor's report thereon were included with the materials sent out giving notice.
We will now take the financial statements and auditor's report as received and considered. The second item of business is to appoint the auditors of Hut 8 for the ensuing year and to authorize the directors of Hut 8 to fix the remuneration of the auditors. I move that the appointment of Raymond Chabot Grant Thornton LLP, chartered professional accountants by the Hut 8 directors as auditors of the company, be ratified. I also move that Raymond Chabot Grant Thornton LLP, chartered professional accountants, be reappointed as auditors of the company until the end of the next annual meeting of shareholders of the company. That the directors of Hut 8 be authorized to fix the auditors' remuneration.
I second that motion.
Thank you, Shane.
You have heard the motion by Jamie and seconded by Shane. We will now turn the call back over to the operator to conduct the voting by electronic poll. As a reminder, if you've already voted by proxy and you vote again during the ballot during this meeting, your vote during the meeting will revoke your previously submitted proxy. If you already voted by proxy and do not wish to revoke your previously submitted proxy, do not vote again during the ballot.
Thank you, sir. Ladies and gentlemen, if you would like to vote for this motion, please press star one. If you would like to vote against, please press star two. Once again, ladies and gentlemen, if you would like to vote for this motion, please press star one. If you would like to vote against, please press star two. You have approximately five more seconds to cast your vote. Thank you. Voting has ended.
Thank you, Sylvie. The third item of business is the election of the directors of the company for the ensuing year. As we did not receive any other nominations in compliance with the advance notice provisions of our articles, I declare the nominations closed, and I will now entertain a motion to consider a resolution to elect each individually in their own right. Oh, sorry, Sylvie. I think we're gonna do this as a full slate of directors.
Separate each group.
Are we? I think we're doing a full slate, not voting on each individually.
Thank you.
The following individuals have been nominated for election as directors. Bill Tai, Joseph Flinn, Jamie Leverton, Alexia Hefti, and Rick Rickertsen. I move that to be considered and voted on, Bill Tai, Joseph Flinn, Jamie Leverton, Alexia Hefti, and Rick Rickertsen be elected as a slate of directors of the company to hold office until the conclusion of the next annual meeting of the shareholders of Hut 8, or until their successors are duly elected or appointed.
I second the motion.
You have heard the motion by Jamie and seconded by Shane. We will now turn the call back over to the operator to conduct the voting by electronic poll. As a reminder, if you've already voted by proxy and you vote again during the ballot during this meeting, your vote during the meeting will revoke your previously submitted proxy. If you have already voted by proxy and do not wish to revoke your previously submitted proxy, do not vote again during the ballot.
Thank you. Ladies and gentlemen, to vote in favor of all nominated, please press star one. To vote against, please press star two. Once again, ladies and gentlemen, if you would like to vote in favor of all those nominated, please press star one. If you would like to vote against, please press star two. You have approximately five more seconds to cast your vote. Thank you. Voting has now ended.
Based on the preliminary report provided by the scrutineer, I can confirm that the following resolutions have been approved by the required percentage of shareholders, as set out in the circular. Number one, the appointment of Raymond Chabot Grant Thornton LLP as the auditors of the company, has been approved, and the board of directors of the company has been authorized to fix their remuneration. Number two, each of the five nominees have been elected as directors of the company to serve until the next annual meeting of shareholders or until their successors are elected or appointed. The scrutineer will deliver the detailed numerical results of all voting after the meeting. Once the detailed voting results are delivered by the scrutineer, I direct that those voting results be included with the minutes of this meeting.
The results of the voting will be announced in a press release in accordance with the policies of the Toronto Stock Exchange and filed on SEDAR.
There being no further business at the meeting, I will entertain a motion to terminate this meeting.
I move that the meeting be terminated.
I second that motion.
With that, the formal business of the meeting has been concluded.
Thank you. We will answer as many questions as time permits. I ask that anyone who would like to ask a question follow the instructions from the operator. In the interest of time, kindly keep your questions short. Oh, I'm sorry. I've just received word that we need to redo the voting of the directors individually and not by slate.
Okay.
Sorry, we're gonna.
We will redo the vote.
Okay. Do you wanna redo the vote by individual then, Sylvie?
Yes, just one moment please while we set up. Thank you. Thank you for everyone's patience. We will now vote for the board of directors. First nominee, Bill Tai. If you would like to vote in favor, please press star one. Against, please press star two. Once again, ladies and gentlemen, should you wish to vote in favor, please press star one or against, please press star two. Just one moment, please. I'm sorry, we need to redo the vote. I apologize.
No problem, Sylvie.
Thank you again, ladies and gentlemen, for your patience. We do apologize for this. We will now restart the vote. First nominee, Bill Tai. To cast your vote in favor, please press star one. Against, please press star two. Thank you. Once again, ladies and gentlemen, in favor of Bill Tai, please press star one or against, please press star two. You have approximately five more seconds to cast your vote. Thank you. Voting has ended. Please stand by while we reset for the next vote. Thank you for your patience. Next nominee, Joseph Flinn. To vote in favor, please press star one and to vote against, please press star two. Once again, ladies and gentlemen, to vote in favor of Joseph Flinn, please press star one or against, please press star two. You have approximately five more seconds to cast your vote. Thank you.
Voting has ended. Please stand by while we reset. Thank you. Next nominee. To vote in favor of Jamie Leverton, please press star one or against, please press star two. Once again, ladies and gentlemen, to vote in favor of Jamie Leverton, please press star one or against, please press star two. You have approximately five more seconds to cast your vote. Thank you. Voting has ended. Please stand by while we reset. Thank you for your patience. Next nominee, Alexia Hefti. To vote in favor, please press star one or against, please press star two. Once again, ladies and gentlemen, to vote in favor of Alexia Hefti, please press star one and to vote against, please press star two. You have approximately five more seconds to cast your vote. Thank you. Voting has ended. Please stand by while we reset. Thank you for your patience.
Next nominee, Rick Rickertsen, please in favor, star one or against, star two. Once again, ladies and gentlemen, all in favor of Rick Rickertsen, press star one and against, press star two. You have approximately five more seconds to cast your vote. Thank you. Voting has now ended.
Thank you, Sylvie. Once again, based on a preliminary report provided by the scrutineer, I can confirm that the following resolutions have been approved by the required percentage of shareholders as set out in the circular. Number one, the appointment of Raymond Chabot Grant Thornton LLP as the auditors of the company has been approved. The board of directors of the company has been authorized to fix their remuneration. Number two, each of the five nominees have been elected as directors of the company to serve until the next annual meeting of shareholders or until their successors are elected or appointed. The scrutineer will deliver the detailed numerical results of all voting after the meeting. Once the detailed voting results are delivered by the scrutineer, I direct that those voting results be included with the minutes of this meeting.
The results of the voting will be announced in a press release in accordance with the policies of the Toronto Stock Exchange and filed on SEDAR.
There being no further business at this meeting, I will entertain a motion to terminate the meeting.
I move that the meeting be terminated.
I second that motion.
With that, the formal business of the meeting has been concluded.
Okay, thank you. We will answer as many questions as time permits. I ask that anyone who would like to ask a question follow the instructions from the operator. In the interest of time, kindly keep your questions short and to the point. We will now give attendees a moment to ask questions in accordance with the following instructions from the operator.
Thank you. Ladies and gentlemen, if you would like to ask a question, you will need to please press star followed by one on your touch-tone phone. Once again, ladies and gentlemen, if you do wish to ask a question at this time, please press star followed by one on your touch-tone phone. Currently it appears that we have no questions.
Thank you very much, Sylvie. Thank you everyone who attended our teleconference of today's meeting. On behalf of the company, we pass along our sincere best wishes that everyone continues to keep well.
Thank you. Ladies and gentlemen, this does indeed conclude the meeting for today. Once again, we thank you for attending and at this time ask that you please disconnect your lines. Enjoy the rest of your day.