HIVE Blockchain Broadcasts Consolidation of 5 to 1 Shares Efficient at Market Open Might 24, 2022

This press launch constitutes a “designated press launch” for the needs of the Firm’s prospectus complement dated February 2, 2021 to its amended and restated brief type base shelf prospectus dated January 4, 2022.

Vancouver, British Columbia–(Newsfile Corp. – Might 24, 2022) – HIVE Blockchain Applied sciences Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: H BF) (the “Firm” or “HIVE”) declares that, pursuant to its press launch dated Might 10, 2022, the Firm will proceed with the mix (the “Mixture”) ) of its abnormal shares (“Unusual Shares”) on the premise of 5 (5) pre-Consolidation Unusual Shares for one (1) post-Consolidation Unusual Share. The Widespread Shares will start buying and selling on the TSX Enterprise Alternate (“TSXV”) and Nasdaq on a post-consolidation foundation from the opening of markets on Might 24, 2022. As of the date hereof, there are 411 209,923 frequent shares issued and excellent. On a post-consolidation foundation, the Firm could have roughly 82,241,984 frequent shares issued and excellent. The Firm is not going to change its identify or inventory symbols as a part of the Consolidation. Completion of the Mixture is topic to receipt of all crucial regulatory approvals, together with the approval of the TSX Enterprise Alternate, and in accordance with the Enterprise Firms Act (British Columbia) and the Company’s Articles. Shareholder approval of the mix shouldn’t be required.

No fractional Widespread Shares might be issued on account of the Consolidation. Any fractional curiosity in Widespread Shares that’s lower than 0.5 of a Widespread Share ensuing from the Consolidation might be rounded to the closest complete Widespread Share, and any fractional curiosity in Widespread Shares that is the same as or better than 0.5 of an abnormal share might be rounded to the closest complete abnormal share.

Registered shareholders will obtain a letter of transmittal from the Firm’s switch agent, Computershare Investor Companies Inc., offering directions on change their share certificates representing the pre-consolidation frequent shares for brand new certificates shares or a direct registration discover (DRS) representing the post-consolidation abnormal shares to which they’re entitled on account of the Consolidation. No motion is required on the a part of non-registered shareholders (shareholders who maintain their frequent shares by way of an middleman) to have an effect on the consolidation.

Mandates

There are at the moment 9,585,250 frequent share buy warrants initially issued by the Firm on November 30, 2021 (the “HIVE Warrants”) listed for buying and selling on the TSXV (TSXV: HIVE.WT). Following the Consolidation, the variety of excellent listed HIVE Warrants is not going to change; nevertheless, the circumstances of train might be adjusted in accordance with the phrases of the warrant indenture dated November 30, 2021, such that, on a post-consolidation foundation, 5 (5) HIVE warrants might be exercisable for one (1) Publish-Consolidation Widespread Warrant. Motion, upon cost of an adjusted worth of CAD $30.00. Accordingly, holders of HIVE Warrants might be entitled to obtain one (1) Publish-Consolidation Widespread Share upon the train of 5 (5) HIVE Warrants and paying an combination of 30, $00 CAD.

Frank Holmes, Govt Chairman of HIVE, mentioned, “HIVE has completed an unimaginable quantity over the previous few years. In the present day, we’re one of the vital worthwhile and quickest rising crypto miners on the earth. “

“Regardless of our document profitability, shares of HIVE are buying and selling at a P/E ratio of roughly 2.2 as of Might 23, 2022. This inventory consolidation will permit us to take away a number of the stigma of penny shares and permit us to interact extra institutional traders.”

Mr. Holmes continued: “We imagine that the market will ultimately acknowledge the worth proposition of HIVE, however on the similar time we settle for that better volatility could also be on the playing cards. Anyway, we are going to proceed our work. We encourage all shareholders to observe our Might 19, 2022 webcast on final week’s company replace here the place we focus on our progress and the upcoming advantages of inventory consolidation.”

Darcy Daubaras, CFO of HIVE, added “Our objective is to allocate shareholder capital effectively, and we imagine our observe document reveals that. Take a look at our Bitcoin mining operations, all of which had been constructed or acquired within the final 2 years, and now accounts for about 2/3 of our revenue.”

Mr. Daubaras continued “HIVE stays very worthwhile, and this consolidation ought to create extra institutional visibility for our actions.”

About HIVE Blockchain Applied sciences Ltd.

HIVE Blockchain Applied sciences Ltd. went public in 2017 as the primary cryptocurrency mining firm with a inexperienced vitality and ESG technique. We mine Bitcoin and Ethereum utilizing largely clear and low-cost hydroelectric energy in Canada, Sweden and Iceland.

HIVE is a know-how inventory centered on development within the rising blockchain trade. We’re constructing a bridge between the digital forex and blockchain trade and conventional capital markets. HIVE has state-of-the-art information heart amenities powered by inexperienced vitality in Canada, Sweden and Iceland, the place we supply solely inexperienced vitality to mine on cloud and HODL each Ethereum and Bitcoin. For the reason that begin of 2021, HIVE has saved the vast majority of its ETH and BTC coin mining rewards in safe storage. Our shares supply traders publicity to the working margins of digital forex mining, in addition to a portfolio of cryptocurrencies akin to ETH and BTC. Since HIVE additionally owns sturdy belongings akin to information facilities and superior multi-purpose servers, we imagine our shares supply traders a gorgeous solution to achieve publicity to the cryptocurrency house.

We encourage you to go to the HIVE YouTube channel here to be taught extra about HIVE.

For extra data and to subscribe to the HIVE mailing listing, please go to www.HIVEblockchain.com. To observe @HIVEblockchain on Twitter and subscribe to HIVE YouTube Channel.

On behalf of HIVE Blockchain Applied sciences Ltd.
“Frank Holmes”
Govt Chairman

For extra data, please contact:
Frank Holmes
Tel: (604) 664-1078

Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this press launch.

Ahead-looking data

Apart from statements of historic reality, this press launch comprises “forward-looking data” inside the that means of relevant Canadian securities legal guidelines that’s based mostly on expectations, estimates and projections as of the date of this press launch. . The “forward-looking data” contained on this press launch contains, however shouldn’t be restricted to, the corporate’s enterprise targets and goals; statements and data relating to: (i) the completion and potential advantages of the Consolidation; (ii) the anticipated variety of frequent shares issued and excellent following the consolidation; (iv) the timetable and anticipated efficient date of the Mixture; and (v) TSX Enterprise Alternate approval and different forward-looking data relating to the intentions, plans and future actions of the events to the transactions described herein and the phrases thereof.

Components that might trigger precise outcomes to vary materially from these described in such forward-looking data embody, however should not restricted to, volatility within the digital forex market; the Firm’s means to efficiently mine digital forex; the Firm might not have the ability to profitably liquidate its present digital forex stock as required, or in any respect; a major decline in digital forex costs might have a cloth adversarial affect on the Firm’s operations; digital forex worth volatility; the continued results of the COVID-19 pandemic might have a cloth adversarial impact on the Firm’s efficiency as provide chains are disrupted and stop the Firm from reaching its enlargement plans or working its belongings; and different associated dangers, as additional set forth within the Firm’s registration assertion and different paperwork disclosed within the Firm’s filings at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking data contained on this press launch displays the Firm’s present expectations, assumptions and/or beliefs based mostly on data at the moment obtainable to the Firm. In reference to the forward-looking data contained on this press launch, the Firm has made assumptions in regards to the Firm’s future goals, targets or plans, the timing thereof and associated issues. The Firm has additionally assumed that no materials occasions happen exterior of the conventional course of enterprise for the Firm. Though the Firm believes that the assumptions inherent in forward-looking data are affordable, forward-looking data shouldn’t be a assure of future efficiency and, accordingly, undue reliance shouldn’t be positioned on such data because of the inherent uncertainty of such data. -this.

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/release/125075

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