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Hive Blockchain Technologies Ltd
Symbol HIVE
Shares Issued 346,433,064
Close 2021-02-02 C$ 2.70
Recent Sedar Documents

Hive arranges up to $100M (U.S.) ATM offering

2021-02-02 17:30 ET - News Release

Mr. Frank Holmes reports

HIVE BLOCKCHAIN, MOST LIQUID TSX.V STOCK TRADING OVER 1.7 BILLION SHARES IN 2020 AND NAMED 4TH ON THE 2021 OTCQX BEST 50, HAS ESTABLISHED AN AT-THE-MARKET EQUITY PROGRAM TO ACCELERATE GROWTH

Hive Blockchain Technologies Ltd., during calendar 2020, was the most liquid stock, trading over 1.7 billion shares combined on the TSX Venture Exchange and Canadian alternative trading systems in Canada, was ranked fourth on the OTCQX Best 50, a ranking of top-performing companies traded on the OTCQX Best Market last year, and has entered into an equity distribution agreement with Canaccord Genuity Corp.

2020 most liquid TSX-V-listed stock

During the calendar year 2020, based on Bloomberg data, the company was the most liquid stock, trading over 1.76 billion shares on the combined TSX-V and ATS exchanges, more than tripling its previous annual highest volume of 580 million shares in 2018. Frank Holmes, interim executive chairman of Hive, commented, "This strong liquidity is what separates Hive from its competitors and makes Hive by far the most liquid Canadian stock in our sector in 2020."

OTCQX Best 50

The company is honoured to be named to the OTCQX Best 50 and ranking as No. 4 on that prestigious list. The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2021 OTCQX Best 50 were ranked based on their performance in 2020.

For the complete 2021 OTCQX Best 50 ranking, visit the OTC Markets website.

The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

At-the-market offering

Pursuant to the equity distribution agreement, the company may, from time to time, sell up to $100-million (U.S.) of common shares in the capital of the company. The company intends to use the net proceeds of the ATM equity program, if any, principally for general corporate and working capital requirements, financing continuing operations, to repay indebtedness outstanding from time to time, to complete future acquisitions, or for other corporate purposes.

Mr. Holmes remarked, "We have chosen the ATM equity program for several compelling reasons, including a much less cost of capital, flexibility to quickly capture opportunities while building our bitcoin and ethereum inventory of coins."

Since the common shares will be distributed at trading prices prevailing at the time of the sale, prices may vary between purchasers and during the period of distribution. The volume and timing of sales, if any, will be determined at the sole discretion of the company's management and in accordance with the terms of the equity distribution agreement. To date, no common shares have been distributed by the company pursuant to the equity distribution agreement.

Sales of common shares, if any, under the ATM equity program are anticipated to be made in transactions that are deemed to be "at-the-market distributions," as defined in National Instrument 44-102 -- Shelf Distributions, as sales made directly on the TSX-V or any other recognized Canadian marketplace within the meaning of National Instrument 21-101 -- Marketplace Operation. The ATM equity program is being made pursuant to a prospectus supplement dated Feb. 2, 2021, to the company's short-form base shelf prospectus dated Jan. 27, 2021, filed with the securities regulatory authorities in each of the provinces and territories of Canada.

The prospectus supplement (as well as the related base shelf prospectus) is available at the company's profile on the SEDAR website maintained by the Canadian Securities Administrators on SEDAR.

About Hive Blockchain Technologies Ltd.

Hive Blockchain Technologies is a growth-oriented, TSX-V-listed company building a bridge from the blockchain sector to traditional capital markets. Hive owns state-of-the-art, green-energy-powered data centre facilities in Canada, Sweden and Iceland, which produce newly minted digital currencies like bitcoin and ethereum continuously on the cloud. The company's deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of cryptocoins.

We seek Safe Harbor.

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