VANCOUVER, Sept. 18, 2017 /CNW/ - HIVE Blockchain
Technologies Ltd. (formerly, Leeta Gold Corp.) (TSX.V:HIVE) (the
"Company" or "HIVE") is pleased to announce the
commencement of trading in the Company's common shares on the TSX
Venture Exchange under the ticker symbol "HIVE" effective at the
open on September 18, 2017. This
follows the completion of a $16.5
million equity financing, as announced on September 7, 2017, and the closing of the
acquisition from Genesis Mining Ltd. ("Genesis") of a
state-of-the-art GPU-based blockchain data centre in Reykjanes,
Iceland and formation of a
strategic partnership with Genesis (collectively, the
"Transaction"), as announced on September 15, 2017.
The Company is also pleased to announce that it commenced mining
operations and began accumulating cryptocurrency on September 15, 2017 following closing of the
Transaction.
"HIVE's mission is to accelerate the blockchain sector through
traditional capital markets and create long-term shareholder
value," commented Harry Pokrandt,
President, CEO and Director of HIVE. "We are now focused on
establishing a market presence and scaling our mining business. Our
facility provides us significant flexibility to mine multiple
cryptocurrencies including, but not limited to, Ethereum, Monero
and ZCash. We will continue to examine other alt-coins for
potential opportunities."
The Board of Directors of HIVE is also pleased to announce the
appointment of Frank Holmes as the
Company's non-executive chairman. Mr. Holmes is the founder and CEO
of U.S. Global Investors, an award winning asset management firm
specializing in gold and emerging markets.
"Blockchain technology has the potential to fundamentally
improve transactions for all," stated Holmes. He continued, "HIVE's
partnership with Genesis provides immediate exposure to operating
margins of crypto mining and a growing portfolio of coins. That
makes this a unique global company out of the gate."
"The concept with HIVE is to give Genesis a footprint outside of
the cryptocurrency world and build a bridge from the blockchain
space to traditional capital markets," commented Marco Streng, co-founder and CEO of Genesis
Group and an advisor to HIVE. Streng continued, "Genesis will
support HIVE and will continue to operate separate facilities for
our cloud mining customers, who will not be impacted in any way by
the HIVE transaction."
Bjoern Arzt, Tobias Ebel, and Olivier
Roussy Newton have also joined the Board of Directors of
HIVE. Mr. Arzt and Mr. Ebel both advise Genesis and are Managing
Partners of Logos Fund, a successful cryptocurrency mining
investment fund based in Zug, Switzerland. Mr. Roussy Newton is an
investment banker and entrepreneur focused on early stage
blockchain and quantum computing firms.
Fiore Group, a management and advisory firm led by Frank Giustra, Gordon
Keep, and Brian Paes-Braga,
is advising HIVE. Fiore Group's principals have helped raise in
excess of $5 billion in debt and
equity for high-growth firms.
For more information and to register to HIVE's mailing list,
please visit www.HIVEblockchain.com, which has recently been
updated. Follow @HIVEblockchain on Twitter and subscribe to HIVE's
YouTube channel.
On Behalf Of HIVE Blockchain Technologies Ltd.
"Harry Pokrandt"
President, CEO and Director
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. The information in this news release about the
completion of the Transaction, as well as additional data centres,
the business goals and objectives of the Company, any estimate of
potential earnings, the execution by Genesis of its duties under
the Master Services Agreement and any other obligations of other
parties to Transaction agreements, and other forward-looking
information includes but is not limited to 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, risks related to the Company's or Genesis'
ability to obtain final acceptance from the Exchange for the
Transaction, the cryptocurrency market or the Company's ability to
successfully mine cryptocurrency, and other risks related to
Transaction as more fully set out in the Filing Statement of the
Company dated September 13,
2017.
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
and Genesis' ability to complete the Transaction, historical prices
of cryptocurrencies and the ability of the Company to mine
cryptocurrencies will be consistent with historical prices and
there will be no regulation or law that will prevent the Company
from operating its business. 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.
Any forward-looking information speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise.
SOURCE HIVE Blockchain Technologies Ltd.