HIVE Blockchain to Restate Previously Issued Annual Information Form

Rhea-AI Summary

HIVE Blockchain Technologies Ltd. (TSX.V:HIVE, Nasdaq:HVBT) has filed a revised annual information form (AIF) for the financial year ending March 31, 2021. The revisions, requested by the British Columbia Securities Commission, include updates on material change reports and enhanced disclosures regarding the company's business and cryptocurrency custodial services. HIVE emphasizes its strong cash position and ongoing business operations amidst the digital currency landscape. The company owns state-of-the-art, green energy-powered data centers for mining Ethereum and Bitcoin.

Positive

• The revised AIF includes enhanced disclosures about business operations and cryptocurrency custodial services.
• HIVE remains well-capitalized and positioned in the current digital currency landscape.

Negative

• None.

No Expected Impact on Cash Position, Business Operations or Commercial Arrangements of HIVE
HIVE Remains Well Capitalized and Well Positioned in the Current Digital Currency Landscape

This news release constitutes a “designated news 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, Dec. 31, 2021 (GLOBE NEWSWIRE) -- HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the “Company” or “HIVE”) announces that it has today filed a revised annual information form for the financial year ended March 31, 2021 (the “AIF”). The Company has made, among other changes, the following amendments to the AIF:  

• Updating the date of the AIF and the applicable disclosure in respect of the material change reports filed by the Company and the documents incorporated by reference in the AIF;
• Enhancing disclosure regarding the description and general development of the Company’s business;
• Enhancing disclosure regarding the cryptocurrency custodial services engaged by the Company;
• Enhancing disclosure regarding the summary of significant transactions undertaken by the Company; and
• Providing a statement of executive compensation for the year ended March 31, 2021.

The revisions were requested by the British Columbia Securities Commission as part of its review of the Company’s amended and restated short form base shelf prospectus, amending and restating the short form base shelf prospectus dated January 27, 2021.

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 growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.

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

For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf of HIVE Blockchain Technologies Ltd.
“Frank Holmes”
Executive Chairman

For further information please contact:
Frank Holmes
Tel: (604) 664-1078

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Forward-Looking Information

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 as at the date of this news release. “Forward-looking information” in this news release includes, but is not limited to, the potential for the Company’s long-term growth, business goals and objectives of the Company, and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; 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 operating its assets; and other related risks as more fully set out in the other documents disclosed under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company disclaims any obligation to update forward-looking information.

FAQ

What is the latest update from HIVE Blockchain Technologies regarding its annual information form?

HIVE Blockchain Technologies has filed a revised annual information form for the financial year ended March 31, 2021, enhancing disclosures about its operations and cryptocurrencies.

How does HIVE Blockchain Technologies' revised AIF impact its financial operations?

The revised AIF states that there is no expected impact on HIVE's cash position or business operations.

What cryptocurrencies does HIVE Blockchain Technologies mine?

HIVE Blockchain Technologies mines Ethereum and Bitcoin using green energy in its data centers.

What changes were made in HIVE's revised annual information form?

The changes include updates on material change reports, business development disclosures, and executive compensation statements.

Is HIVE Blockchain Technologies well-capitalized?

Yes, the company states it remains well-capitalized in the current digital currency landscape.