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This press release constitutes a “designated news release” for the company’s prospectus supplement dated February 2, 2021 to its amended and revised short-form base shelf prospectus dated January 4, 2022.
VANCOUVER, British Columbia, July 5, 2022 (GLOBE NEWSWIRE) – HIVE Blockchain Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: HBFA) (the “Company” or “HIVE”) announces that it expects its annual report on Form 40-F (“Form 40-F”), which contains its annual audited financial statements, in addition to its CEO and CFO certifications and its management discussion and analysis filing in Canada for the financial year ended March. 31, 2022 (overall, «Annual submissions») will be issued after the planned submission date 29 June 2022. The company currently expects to be able to submit the annual submissions on or before 15 July 2022. As a result of delayed submission, received the Company received a letter dated July 1, 2022 (the “Letter”) from the Nasdaq Stock Market Qualifications Department (“Nasdaq”) notifying the Company that it did not comply with the requirements of Nasdaq’s 5250 (c) (1) to have submitted 40-F on time. The letter has no immediate effect on the listing or trading of HIVE’s ordinary shares on Nasdaq Capital Market. The letter states that the company is required to submit a plan to regain compliance with Rule 5250 (c) (1) within 60 calendar days. If the plan is approved by Nasdaq, Nasdaq may grant the company up to 180 calendar days from the due date of Form 40-F to regain compliance.
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The company has been late in preparing its annual listings due to a combination of factors, including (i) the challenge of meeting the shorter submission deadline for non-venture issuers in Canada due to the company’s recent listing on NASDAQ and (ii) the rapid increase in the company’s growth and the accompanying increase in the number of transactions. The company does not expect such difficulties with future submissions and makes arrangements to satisfy all submission requirements for future year-end closures, including the employment of additional financial personnel.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. was listed on the stock exchange in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.
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HIVE is a growth-oriented technology stock in the emerging blockchain industry. As a company whose shares are traded on a major stock exchange, we build a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-driven data center facilities in Canada, Sweden and Iceland, where we only obtain green energy to extract on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has kept in safe storage most of the ETH and BTC coin mining rewards. Our shares give investors 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-purpose servers, we believe that our shares offer investors an attractive way to gain exposure to the cryptocurrency area.
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We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.
For more information and to sign up for HIVE’s email 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 the regulatory service provider (as defined in the TSX Venture Exchange Guidelines) accepts responsibility for the adequacy or accuracy of this news release.
Future-oriented information
Apart from the statements of historical facts, this press release contains “forward-looking information” in accordance with applicable Canadian securities law based on expectations, estimates and estimates as of the date of this press release. “Forward-looking information” in this press release includes, but is not limited to, business goals and objectives of the Company; statements and information about the time of submission of the annual submissions; and other forward-looking information about the intentions, plans and future actions of the parties to the transactions described here and the terms of these.
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Factors that may cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s confidence in its auditors and management with respect to the annual registrations, the volatility of the digital currency market. ; the company’s ability to extract digital currency; The company may not be able to profitably liquidate its current digital currency holdings as needed, or at all; a significant decline in digital currency prices could 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 implementing its expansion plans or operating its assets; and other related risks as more fully described in the Company’s registration statement and other documents revealed during the company’s registrations at www.sec.gov/EDGAR and www.sedar.com.
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The forward-looking information in this press release reflects the company’s current expectations, assumptions and / or beliefs based on information available to the company. In connection with the future-oriented information in this press release, the company has made assumptions about the company’s goals, objectives or future plans, the time for these and related matters. The company has also assumed that no significant incidents occur outside the company’s normal operations. Although the company believes that the assumptions contained in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and consequently one should not rely on such information due to the inherent uncertainty in it.
