ZUG, Switzerland and
VANCOUVER, Aug. 27, 2019 /CNW/ - HIVE Blockchain
Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (the "Company"
or "HIVE") recognizes the thought leadership of the Swiss
Financial Market Supervisory Authority ("FINMA") following
progressive actions towards blockchain service providers. FINMA
has, for the first time, issued banking and securities dealers'
licences to two pure play blockchain service providers. As a
company with operations in Zug, Switzerland this has the potential to be a
positive development for HIVE as transaction costs could decrease
while increasing opportunities for liquidity and banking
options.
"The granting of licenses to SEBA Crypto and Sygnum in
Switzerland is another positive
step for the blockchain industry broadly," said Frank Holmes, Interim Executive Chairman and
Interim CEO of HIVE. "I expect that this can have a positive impact
on HIVE as transaction costs are expected to be lower while
enhancing liquidity. The Swiss regulators are showing true
leadership in blockchain and cryptocurrency and, in my view, it
acknowledges the important role that blockchain technology is
expected to play in the future of banking. SEBA has partnered with
Julius Baer, a Zurich-based private bank, which comes on the
heels of JP Morgan and Facebook entering the cryptocurrency
landscape. I believe that large corporations and banking
institutions entering the ecosystem is a testament to the
disruptive nature of blockchain and cryptocurrency and the impact
that it can have at a global level."
HIVE also announces that it expects to file its annual financial
statements and accompanying management's discussion and analysis
for the financial year ended March 31,
2019 (collectively, the "Annual Filings") on or before
September 29, 2019. As a result of
the delayed Annual Filings the Company will have a delay in the
filing of its interim financial statements, management's discussion
and analysis, and the related certifications for the period ended
June 30, 2019 ("Interim Filings"),
which have a filing deadline of August 29,
2019 . HIVE will continue to provide biweekly status updates
on the delay of filing its Annual Filings and Interim Filings.
HIVE confirms that since it announced a delay of its Annual
Filings (the "Filings Notice") there is no material change to the
information set out in the Filings Notice that has not been
generally disclosed and there has been no failure by the Company in
fulfilling its stated intentions with respect to satisfying the
provisions of the alternative information guidelines set out in NP
12-203. Management is working diligently to meet the Company's
obligations relating to its Annual Filings and that, while subject
to the Management Cease Trade Order ("MCTO"), the Company will
continue to comply with the provisions of the alternative
information guidelines under NP 12-203 by issuing bi-weekly status
reports until it has satisfied the necessary filing
requirements.
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 and Interim
Filings, and duration of the MCTO; potential for decrease in
transaction costs and increase opportunities for liquidity for the
Company; 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 will be subject to a general
cease trade order in the event that the Annual Filings and Interim
Filings are not completed and filed in a timely manner; transaction
costs may not decrease and liquidity may not be enhanced as
anticipated, or at all; 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 and Interim
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.