HVBTF - DeFi Technologies & HIVE ink strategic partnership and share swap agreement

DeFi Technologies ([[RDNAF]] +2.5%) entered into a letter of intent with HIVE Blockchain Technologies ([[HVBTF]] -6.9%) for a share swap arrangement wherein HIVE will receive 10M DeFi Technologies shares (6.5% of the existing outstanding common shares) in exchange for 4M HIVE shares(1.1% of Hive's issued and outstanding common shares).Transaction expected to close on or about Apr.16.Additionally, both the companies plan to create a partnership surrounding the decentralized finance which will provide DeFi with a strategic stake in HIVE and a broader partnership surrounding the DeFi ecosystem with a specific focus on the Ethereum based MEV space and developments surrounding it.Note: MEV refers to the amount of profit miners can extract from reordering and censoring transactions on the blockchain.For DeFi Technologies, the partnership gives exposure to one of the largest miners of Ethereum, which is the backbone on which DeFi applications are built and thus serves as a critical component supporting the sector.Blockchain

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DeFi Technologies & HIVE ink strategic partnership and share swap agreement