Deal is Done

Hive Blockchain Technologies Ltd. has closed the first tranche of its previously announced private placement of up to $115-million co-led by GMP Securities LP and Eventus Capital Corp. and including Haywood Securities Inc. and PI Financial Corp. The first tranche consisted of a total of 15,873,100 units sold at a price of $3.15 per unit for gross proceeds raised of $50,000,265. Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one share at a price of $3.90 until Nov. 14, 2019. The shares and the warrants issued under the first tranche are subject to a hold period expiring April 19, 2018. The company anticipates that the warrants will be listed on the TSX Venture Exchange shortly after the hold period expires, subject to meeting the conditions in exchange approval. In connection with the first tranche, the agents received a cash commission equal to 6 per cent of the gross proceeds raised in the first tranche.

The final closing of the offering of up to an additional of $65-million is expected to be Dec. 29, 2017. Closing of the final tranche is subject to certain conditions typical for a transaction of this nature and the receipt of all necessary regulatory approvals, including the approval of the exchange.

The net proceeds of the offering are expected to be used to finance the completion of the Sweden Bitcoin Data Centre and the phase 3 expansion at the Sweden GPU Data Centre (as described in the company’s Dec. 13, 2017, news release), and for general working capital purposes.

About Hive Blockchain Technologies Ltd.

Hive Blockchain Technologies is a growth-oriented, TSX Venture Exchange-listed company building a bridge from the blockchain sector to traditional capital markets. Hive is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. Hive owns state-of-the-art GPU-based digital currency mining facilities in Iceland, which produce mined digital currency like Ethereum around the clock, and is in the midst of a major expansion of operations into Sweden.

We seek Safe Harbor.

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