HVBTF - 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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HIVE Blockchain launches private placement of convertible debentures