HIVE Announces RSU and Option Grants
August 26 2022 - 6:01PM
HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE)
(FSE:HBFA) (the “Company” or “HIVE”) announced that the Board of
Directors has approved the grant of 415,200 incentive stock options
(“Stock Options”) exercisable into the equivalent amount of common
shares of the Company at a price of C$5.66 per share for a period
of five years. The grants were made to employees, officers and
consultants of the Company and are subject certain vesting
requirements. The Company’s Board of Directors has also approved
the grant of an aggregate of 1,425,280 restricted share units
(“RSUs”) to employees, officers and consultants of the Company
which vest over 24 months. Each vested RSU entitles the holder to
receive one common share of the Company. These grants were made to
appropriately reward the previous and ongoing contributions of the
recipient employees, officers and consultants and to encourage them
to continue contributing significantly to HIVE’s success in future.
Prior to the grants,
the Company had approximately 82.2 million issued and outstanding
common shares, approximately 2.8 million stock options, and 54,600
RSU’s.
All grants of Stock
Options and RSU’s are subject to the Company’s Stock Option Plan
and Restricted Share Unit Plan which were re-approved by
shareholders at HIVE’s 2021 annual meeting of shareholders on
December 21, 2021.
About HIVE Blockchain Technologies
Ltd.
HIVE Blockchain Technologies Ltd. went public in
2017 as the first cryptocurrency mining company with a green energy
and ESG strategy.
HIVE is a growth-oriented technology stock in
the emergent blockchain industry. As a company whose shares trade
on a major stock exchange, we are building a bridge between the
digital currency and blockchain sector and traditional capital
markets. HIVE owns state-of-the-art, green energy-powered data
centre facilities in Canada, Sweden, and Iceland, where we source
only green energy to mine on the cloud and HODL both Ethereum and
Bitcoin. Since the beginning of 2021, HIVE has held in secure
storage the majority of its ETH and BTC coin mining rewards. Our
shares provide investors with exposure to the operating margins of
digital currency mining, as well as a portfolio of cryptocurrencies
such as ETH and BTC. Because HIVE also owns hard assets such as
data centers and advanced multi-use servers, we believe our shares
offer investors an attractive way to gain exposure to the
cryptocurrency space.
We encourage you to visit HIVE’s YouTube channel
here to learn more about HIVE.
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”Executive Chairman
For further information please contact:Frank HolmesTel: (604)
664-1078
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 continued adoption of Ethereum
and Bitcoin globally; the potential for the Company’s long term
growth; 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: 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 Annual
Information Form of the Company dated July 19, 2022 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 the Company’s ability to realize operational efficiencies
going forward into profitability; profitable use of the Company’s
assets going forward; the Company’s ability to profitably liquidate
its digital currency inventory as required; 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. The
Company undertakes no obligation to revise or update any
forward-looking information other than as required by law.
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