HIVE Blockchain Technologies Ltd. Completes “Best Efforts” Private Placement

December 29, 2017

HIVE Blockchain Technologies Ltd. (TSX.V: HIVE) (the “Company”) completed a “best efforts” private placement and issued 36,507,900 units in the capital of the Company (“Offered Units”) at a price of $3.15 per Offered Unit for gross proceeds of approximately $115,000,000 (the “Offering”). Each Offered Unit consisted of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $3.90 until November 14, 2019. The Company intends to use the net proceeds of the Offering to finance the acquisition of additional cryptocurrency mining equipment located in Sweden and for general and working capital purposes. The Offering was completed with a syndicate of agents co-led by GMP Securities L.P. and Eventus Capital Corp. and included Haywood Securities Inc. and PI Financial Corp. (collectively, the “Agents”).   

Wildeboer Dellelce LLP acted for the Agents in connection with the Offering with a team that included Perry Dellelce, Geoffrey Cher, Danny Kharazmi and Tajrin Nayeem (corporate/securities).