ZUG, Switzerland and
VANCOUVER, July 26, 2019 /CNW/ - HIVE Blockchain
Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (the "Company"
or "HIVE") announces that as a result of delays in the
completion of its audit, the Company will be unable to file its
financial statements and accompanying management's discussion and
analysis for the financial year ended March
31, 2019 (collectively, the "Annual Filings") by
July 29, 2019, being the date that
such filings are due under applicable Canadian securities law
requirements. The late filing is the result of delays in obtaining
financial reporting from the Company's wholly owned subsidiaries as
the Company has explored potential tax optimization structures, and
the time required for the Company and its auditors to review such
financial reporting. The Company has applied for, a management
cease trade order (the "MCTO") by the British Columbia
Securities Commission restricting the Company's chief executive
officer and chief financial officer from trading the Company's
shares until the Annual Filings are filed.
The Company currently expects to file the Annual Filings on or
before August 28, 2019 and will issue
a press release announcing completion of such filings at such
time. Until the Company files the Annual Filings, it will
comply with the alternative information guidelines set out in
National Policy 12-203 – Management Cease Trade Order.
The guidelines, among other things, require the Company to issue
bi-weekly default status reports by way of a news release for as
long as the Annual Filings have not been filed.
During the MCTO, the general investing public will continue to
be able to trade in the Company's shares.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. 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
GPU-based digital currency mining resources in Iceland and Sweden, which produce newly minted digital
currencies like Ethereum continuously as well as cloud-based
ASIC-based capacity which produces newly minted digital currencies
like Bitcoin. Its deployments provide shareholders with exposure to
the operating margins of digital currency mining as well as a
growing portfolio of crypto-coins.
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"
Interim Executive Chairman
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, statements regarding the timing,
review, completion and filing of the Annual Filings; application
and grant of an MCTO; 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 Company may not complete its audit and
file the Annual Filings as currently anticipated, or at all; the
Company may not be granted the MCTO; and other related risks as
more fully set out in the Filing Statement of the Company dated
September 13, 2017 and other
documents disclosed under the Company's filings at
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 made assumptions about the Company's
ability to complete and file the Annual Filings. The Company has
also 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.
SOURCE HIVE Blockchain Technologies Ltd.