GROW - U.S. Global Investors sells 10M HIVE Blockchain shares to reinvest in HIVE bonds

U.S. Global Investors (GROW) climbs 5.6% in after-hours trading after it sold 10M shares of HIVE Blockchain Technologies (HVBTF), locking in gains of ~$18M.The company expects to reinvest $15M of the proceeds back into HIVE through a private placement of unsecured convertible bonds, subject to regulatory approval by the TSX Venture Exchange.U.S. Global Investors CEO Frank Holmes, who is also interim executive chairman of HIVE, said no shares were sold by him personally."By repositioning our investment in HIVE, we seek to continue participating in the crypto-mining ecosystem while lowering much of the volatility of our investment portfolio," Holmes said.The debentures are expected to mature 60 months following the date of issuance, bearing interest at a rate of 8% per year, paid monthly. U.S. Global Investors is expected to be issued 5M common share purchase warrants, with each whole warrant entitling GROW to acquire one common share in HIVE at a price of C$3.00

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U.S. Global Investors sells 10M HIVE Blockchain shares, to reinvest in HIVE bonds