Home » cpu mining » HIVE Blockchain Closes $30 Million Bought Overeenkomst Financing, Completes $7 Million Investment by

HIVE Blockchain Closes $30 Million Bought Overeenkomst Financing, Completes $7 Million Investment by

HIVE Blockchain Closes $30 Million Bought Deal Financing, Completes $7 Million Investment by

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Oct 11, 2018, 09:23 ET

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VANCOUVER , Oct. 11, 2018 /PRNewswire/ – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (the “Company” or “HIVE”) is pleased to announce that it has closed its previously announced bought overeenkomst private placement. A total of 20,000,000 common shares (the “Shares”) were sold at a price of C$1.50 vanaf Share for aggregate gross proceeds of $30,000,000 (the “Suggesting”). The Suggesting wasgoed underwritten by a syndicate of underwriters led by GMP Securities L.P. and included Haywood Securities Inc., Eventus Capital Corp, and PI Financial Corp. (collectively, the “Underwriters”). All of the Shares issued under the Suggesting are subject to a hold period expiring February 12, 2018 . Ter connection with the Suggesting, the Underwriters received a metselspecie commission equal to 6% of the gross proceeds raised ter the Suggesting. The netwerken proceeds of the Suggesting are to be used for the purchase of the 2nd Gegevens Centre (spil defined below) and for general working capital purposes.

Concurrently, the Company finished a non-brokered private placement of Four,666,667 common shares at C$1.50 vanaf common share for gross proceeds of $7,000,000 (the “Private Placement”) te accordance with the terms of an investor rights agreement inbetween the Company and Genesis Mining Ltd. (“Genesis”), an insider of the Company. The shares issued under the Private Placement are subject to a hold period expiring February 12, 2018 . The televisiekanaal proceeds of the Private Placement are expected to be used for general working capital purposes.

Acquisition of 2nd Gegevens Centre

Concurrently with the completion of the Suggesting, the Company has finished the purchase of extra cryptocurrency mining equipment located ter Reykjanes, Iceland (the “2nd Gegevens Centre”) from Genesis. Pursuant to a master services agreement inbetween the Company and Genesis (the “MSA”), Genesis is responsible for hosting, maintenance and related services for the 2nd Gegevens Centre. The 2nd Gegevens Centre wasgoed acquired from Genesis for consideration of C$Five,000,000 and the issuance of Two,000,000 common shares of the Company, spil well spil a revision of the monthly fees payable to Genesis pursuant to the MSA to support the 2nd Gegevens Centre. The Company’s cryptocurrency mining capacity or hashpower is expected to increase by overheen 70% with the addition of the 2nd Gegevens Centre. The Company will also pay a success toverfee of 40,000 common shares ter connection with the acquisition.

Stock Option Grant

The Company announces that it has granted an aggregate of Two,000,000 stock options under the Company’s stock option project to consultants and employees of the Company with an exercise price of C$Two.00 vanaf stock option, exercisable for a period of ten years from the date of grant, subject to approval of the TSX Venture Exchange (the “Exchange”). The Company has also granted an aggregate of 666,666 stock options to an investor relations provider with an exercise price of C$Two.00 vanaf stock option, exercisable for a period of five years from the date of grant, vestingsgracht overheen the period of three years, subject to approval of the Exchange.

About HIVE Blockchain Technologies Ltd.

HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd., the world’s leading cryptocurrency mining hashrate provider, to build the next generation of blockchain infrastructure. HIVE possesses state-of-the-art GPU-based cryptocurrency mining facilities te Iceland , which produce mined cryptocurrency like Ethereum around the clock. HIVE has an option to acquire extra facilities te Iceland or Sweden from Genesis. Genesis supports HIVE with gegevens centre infrastructure know-how and is HIVE’s largest shareholder.

For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com, which has recently bot updated. Go after @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf Of HIVE Blockchain Technologies Ltd.

Voorzitter, CEO and Director

The TSX Venture Exchange has te no way passed upon the merits of the acquisition and has neither approved strafgevangenis disapproved the contents of this news release. Neither the TSX Venture Exchange strafgevangenis its Regulation Services Provider (spil that term is defined ter policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections spil at the date of this news release. “Forward-looking information” te this news release includes information about the use of proceeds for the Suggesting and Private Placement, the increase of hashpower spil a result of the acquisition of the 2nd Gegevens Centre, the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future deeds of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described ter such forward-looking information include, but are not limited to, risks related to the operation of the 2nd Gegevens Centre, the ongoing partnership with Genesis, hashpower may not increase spil presently anticipated, the cryptocurrency market, the Company’s capability to successfully mine cryptocurrency, and other related risks spil more fully set out te the Filing Statement of the Company dated September 13, 2018 .

The forward-looking information te this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information presently available to the Company. Te connection with the forward-looking information contained ter this news release, the Company has made assumptions about the Company’s ongoing partnership with Genesis, historical prices of cryptocurrencies and the capability of the Company to mine cryptocurrencies will be consistent with historical prices, and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Albeit the Company believes that the assumptions inherent te the forward-looking information are reasonable, forward-looking information is not a assure of future voorstelling and accordingly undue reliance should not be waterput on such information due to the inherent uncertainty therein.

Any forward-looking information speaks only spil of the date on which it is made and, except spil may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether spil a result of fresh information, future events or results or otherwise.

SOURCE HIVE Blockchain Technologies Ltd.

Oct 23, 2018, 09:26 ET

Preview: HIVE Blockchain to Expand Cryptocurrency Mining Capacity by 175% with Fresh Gegevens Centre ter Sweden

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