BITF - Bitfarms Announces Appointment of Fanny Philip to Board of Directors | Benzinga
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023
TORONTO, Ontario and BROSSARD, Quebec, June 27, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (TSX:BITF) ("Bitfarms" or the "Company"), a global Bitcoin vertically integrated company, today announced that its Board of Directors has unanimously approved the appointment of Fanny Philip to the Company's Board, effective immediately. With the appointment of Ms. Philip, Bitfarms' Board is now composed of five directors, four of whom are independent.
Ms. Philip is a recognized expert in the blockchain technology field and an accomplished finance executive with an extensive background in audit, public company reporting and mergers and acquisitions. She is the founder of MTI Conseils Inc., an accounting firm that provides outsourced accounting and CFO services. Formerly, she was the CFO and VP Finances of Canada Computational Unlimited Inc. and the COO of SATO Technologies Corp. (TSXV:SATO, OTCQB:CCPU). As a former C-suite executive at a publicly traded company, she used to engage extensively in education and industry representation, advocating for regulatory changes and fostering a deeper understanding of the sector's complexities among stakeholders, especially on reporting and financial matters. She currently serves as Chief Financial Officer at SOVIAGO, where she oversees financial reporting and compliance and has been instrumental in various strategic acquisitions. Ms. Philip holds a CPA public account permit and is a member of the Mining Committee of the Canadian Blockchain Consortium and the President of its Québec Chapter.
"Fanny's appointment to the Board follows a comprehensive search to identify a highly qualified director that enhances the Board's skill set, and marks significant progress on our commitment to refresh the Board with independent candidates," said Edie Hofmeister, Chair of the Bitfarms' Governance and Nominating Committee. "In addition to her outstanding audit background, Fanny's deep knowledge of the North American and European energy sectors and extensive experience across the fields of digital assets, mining and AI will be invaluable as we continue to drive significant organic growth and capture a greater share of the global demand for Bitcoin. We look forward to leveraging Fanny's experience to maximize value for Bitfarms shareholders."
"Bitfarms has tremendous momentum underway, and I am excited to leverage my knowledge of capital markets and the digital asset industry to contribute to the Company's continued success and help capitalize on the significant opportunities ahead," said Ms. Philip.
Advisors
Moelis & Company LLC is serving as financial advisor to Bitfarms. Skadden, ...