ZUG, SWITZERLAND and
VANCOUVER, Feb. 11, 2019 /CNW/ - HIVE Blockchain
Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (the "Company" or
"HIVE") is pleased to announce it has qualified for trading on the
OTCQX® Best Market ("OTCQX") and will begin trading on
the OTCQX under the symbol "HVBTF," effective February 11, 2019.
"Upgrading to the OTCQX is an important event for the Company."
said Frank Holmes, Interim Executive
Chairman. "The OTCQX equips HIVE with better liquidity
and exposure for existing and future U.S. investors as we continue
our long-term strategy to enhance shareholder value. HIVE is an
industry leader among publicly traded blockchain infrastructure
companies and trading on OTCQX in the U.S. provides investors with
an opportunity to participate in the long-term potential of
blockchain and to invest in a stock that is highly correlated to
the price movements of cryptocurrencies like Bitcoin and
Ethereum."
The OTCQX Market is reserved for established, investor-focused
U.S. and global companies that meet high financial standards,
provide timely news and disclosure to investors, and are sponsored
by a professional third-party advisor.
"We are pleased to welcome HIVE Blockchain Technologies to our
OTCQX Best Market," said Jason
Paltrowitz, Director, OTC Markets Group International Ltd.
and EVP, Corporate Services, OTC Markets Group. "HIVE Blockchain
joins a robust roster of Canadian companies that benefit from
cross-trading their shares and providing a premium market for
accessing U.S. investors. We look forward to supporting HIVE
Blockchain as the company builds long-term shareholder value."
The Company will continue to trade on the TSX Venture Exchange
(TSX-V) under its existing symbol "HIVE". U.S. investors can find
current financial disclosure and Real-Time Level 2 quotes for the
Company on www.otcmarkets.com.
HIVE is also pleased to announce that it has
secured eligibility by The Depository Trust Company ("DTC") for its
common shares which trade on the OTCQX in the United
States. DTC is a subsidiary of the Depository Trust &
Clearing Corporation, a U.S. company that manages the electronic
clearing and settlement of publicly traded companies. DTC
eligibility permits shares of HIVE to be distributed,
settled and serviced through DTC's automated processes, leveraging
the efficiencies created through the electronic clearing and
settlement of securities. DTC services provide cost benefits for
investors and brokers trading Canadian securities in the United States.
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 is strategically partnered
with Genesis Mining Ltd. to build the next generation of blockchain
infrastructure. HIVE owns state-of-the-art GPU-based digital
currency mining facilities 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. Our 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 information about better liquidity, increased exposure and
improved access for existing and future U.S. and international
investors; the correlation of the Company's stock with price
movements of cryptocurrencies like Bitcoin and Ethereum; long term
growth of the Company; the business goals and objectives of the
Company, 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, trading of the Company's stock on OTCQX may
have no positive impact on the Company or its investors; the
digital currency market; the Company's ability to successfully mine
digital currency; the Company may not be able to profitably
liquidate its current digital currency inventory, or at all; a
decline in digital currency prices may have a significant negative
impact on the Company's operations; the volatility of digital
currency prices; 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 trading of the
Company's stock on OTCQX; the correlation of the Company's stock
with price movements of cryptocurrencies like Bitcoin and Ethereum;
the Company will be able to profitably liquidate its digital
currency inventory as required; the Company's ongoing partnership
with Genesis; historical prices of digital currencies and the
ability of the Company to mine digital currencies 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.
SOURCE HIVE Blockchain Technologies Ltd.