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.
On Behalf of HIVE Blockchain Technologies Ltd.
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.
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.
For further information: Frank Holmes, Tel: (604) 664-1078