HIVE Blockchain Technologies Ltd (HIVE)

[patriotcat2002]

ZUG, Switzerland and VANCOUVER, Dec. 29, 2017 /CNW/ - HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (the "Company" or "HIVE"), the leading publicly listed blockchain infrastructure company, is pleased to announce that it has closed the final C$65 million tranche (the "Final Tranche") of its previously announced private placement of up to C$115 million (the "Offering"), co-led by GMP Securities L.P. and Eventus Capital Corp. and including Haywood Securities Inc. and PI Financial Corp. (collectively, the "Agents"). The Final Tranche consisted of a total of 20,634,800 units (the "Units") sold at a price of C$3.15 per Unit for gross proceeds raised of C$64,999,620. Each Unit consists of one common share (a "Share") and one Share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of C$3.90 until November 14, 2019. The Shares and the Warrants issued under the Final Tranche are subject to a hold period expiring April 30, 2018. The Company anticipates that the Warrants will be listed on the TSX Venture Exchange (the "Exchange") shortly after the hold period expires, subject to meeting the conditions in Exchange approval. In connection with the Final Tranche, the Agents received a cash commission of up to 6% of the gross proceeds raised in the Final Tranche, excluding any proceeds raised from Genesis Mining Ltd. ("Genesis"). In aggregate, a total of 36,507,900 Units were issued in connection with the Offering for gross proceeds raised of C$115 million.