HIVE Blockchain launches private placement of convertible debentures

  • HIVE Blockchain Technologies (HVBTF) intends to complete a non-brokered private placement of unsecured debentures for an aggregate gross proceeds of $15M with U.S. Global Investors.
  • The Debentures will mature 60 months from the date of issuance, bearing interest at a rate of 8% p.a. payable monthly and principal will be payable quarterly.
  • The Debentures will be issued at par, with each Debenture being redeemable by HIVE at any time, and convertible at the option of the holder into common shares at a conversion price of CAD$3.00/share.
  • Additionally, U.S. Global will be issued 5.0M common share purchase warrants. Each whole warrant will entitle U.S. Global to acquire one common at an exercise price of CAD$3.00/share for a period of three years from closing.
  • Net proceeds will be used for general corporate purposes and working capital.
  • The issuance is expected to close on or about December 31, 2020.

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