HIVE Blockchain Announces $ 110,020,000 Private Placement Funding to Expand BTC Production by One Additional Exahash Per Second in Summer 2022 – .

0
9
HIVE Blockchain Announces $ 110,020,000 Private Placement Funding to Expand BTC Production by One Additional Exahash Per Second in Summer 2022 – .


NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES.
This press release constitutes a “designated press release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021.

VANCOUVER, British Columbia, November 09, 2021 (GLOBE NEWSWIRE) – HIVE Blockchain Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: HBF) (the “Company” or “HIVE”) is pleased to announce that it has entered into an agreement with Stifel GMP as lead and tenor book to include a syndicate of underwriters (the “Underwriters”), pursuant to which the Underwriters will purchase, on a bought deal basis, 16,670,000 special warrants of the Company (the “Special Warrants” ) at a price of $ 6.00 per special warrant for total gross proceeds to the Company of $ 100,020,000 (the “Offer”). Completion of the Offering will be subject to receipt of all necessary regulatory and corporate approvals or consents.

The Company will grant the Underwriters an option to increase the size of the Offering up to a maximum of an additional 15% of the Special Warrants sold under the Offering, which may be exercised in whole or in part at any time and from any time. at other up to 48 hours before the closing date (as defined below).

Each special warrant will entitle its holder to receive, subject to adjustment in certain circumstances and the penalty clause (as defined below), and without payment of additional consideration, one (1) unit of the Company (each a “Unit”) upon exercise or deemed exercise of each Special Warrant. Each Unit will consist of one (1) common share of the Company (a “Unit Share”) and one-half (0.5) of a common share purchase warrant (each common share purchase warrant). (whole common share, a “warrant”). Each warrant will entitle its holder to purchase one common share of the Company (a “warrant share”) at a price of $ 6.00 per warrant share for a period of 36 months following the close of placement. The special warrants may be exercised by their holders at any time after the closing date without additional consideration. All unexercised Special Warrants will be deemed to be exercised in the name of and without any action required from the holders (including payment of additional consideration) on the earlier of the following dates:

(is) the second business day following the date on which a final receipt is obtained from the British Columbia Securities Commission (the “BCSC”), as principal regulator on behalf of the securities regulators in each province of Canada, except of Quebec, for) simplified prospectus qualifying the distribution of the units of shares and of the warrants to be issued upon the exercise of the special warrants (the “eligibility date”); and
(ii) 4:59 pm (Toronto time) on the date that is four months and one day after the closing date (the “Qualifying Deadline”).

If the Eligibility Date has not occurred on or before the date that falls 45 days after the Closing Date (the “Penalty Date”), each Special Warrant outstanding will thereafter be entitled to its holder to receive, upon exercise or deemed exercise of each Special Warrants, without additional consideration, 1.1 units (the “penalty provision”).

The Company expects that the net proceeds of the Offering will be used for a data center development and miner / ASIC acquisition program to increase the hashrate of one Exahash per second, working capital requirements and other general business objectives.

In consideration for their services, the Underwriters will receive a cash commission equal to 6% of the gross proceeds of the Offering.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or any state securities law. and, therefore, may not be offered or sold in the United States except in accordance with registration requirements of the US Securities Act and applicable state securities requirements or under exemptions from these. This press release does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction.

About HIVE Blockchain Technologies Ltd.

HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.

HIVE is a technology stock focused on growth in the emerging blockchain industry. As a company whose shares are traded on a major exchange, we are building a bridge between the digital currency and blockchain industry and traditional capital markets. HIVE has state-of-the-art green power-powered data center facilities in Canada, Sweden and Iceland, where we source only green power to mine from the cloud and HODL from both Ethereum and Bitcoin. Since the start of 2021, HIVE has held the majority of its ETH and BTC coin mining rewards in secure storage. Our stocks provide investors with exposure to operating margins from digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns durable assets such as data centers and advanced multi-purpose servers, we believe our stocks provide an attractive way for investors to gain exposure to the cryptocurrency space.

We encourage you to visit the HIVE YouTube channel here to learn more about HIVE.

For more information and to subscribe to the HIVE mailing list, please visit www.rucheblockchain.com. To follow @HIVEblockchain on Twitter and subscribe HIVE YouTube Channel.

On behalf of HIVE Blockchain Technologies Ltd.
Franck Holmes
Executive chairman

For more information please contact:

Frank Holmes
Phone. : (604) 664-1078

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 press release.

Forward-looking information

Except for statements of historical fact, this press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which is based on expectations, estimates and projections as of the date of this press release. hurry. “Forward-looking information” in this press release includes, without limitation, statements regarding information about the offer and use of the product, potential dilution and the application of the penalty clause; the Company’s business goals and objectives; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the conditions attached thereto.

Factors that could cause actual results to differ materially from those described in this forward-looking information include, without limitation, the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or not at all; a significant drop in the prices of digital currencies may have a material negative impact on the operations of the Company; the price volatility of digital currencies; the continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from completing its expansion plans or operating its assets ; and other related risks as further described in the registration statement of Company and other documents disclosed in documents filed by the Company at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking information contained in this press release reflects the Company’s current expectations, assumptions and / or beliefs based on information currently available to the Company. In the context of the forward-looking information contained in this press release, the Company has made assumptions about the Company’s ability to complete the Offer, the timing thereof and related matters. The Company also assumed that no material event occurred outside the normal course of the Company’s business. Although the Company believes that the assumptions inherent in forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and, therefore, one should not place undue reliance on such information due to the uncertainty inherent in such information. -this.

LEAVE A REPLY

Please enter your comment!
Please enter your name here