HIVE Blockchain Announces $30 Million Bought Deal Financing and Launches Second Phase Expansion in Sweden

HIVE Blockchain Technologies (TSXV:HIVE) has announced it has entered into an agreement with a syndicate of underwriters led by GMP Securities pursuant to which GMP has agreed to purchase 10.7 million units of HJIVE at $2.80 per share for aggregate gross proceeds of $30 million.
As quoted in the press release:

The Underwriters have been granted an option, exercisable at any time up to forty-eight hours prior to closing (as defined below), to purchase up to an additional 1,607,250 Units at the Offering Price (together with the Bought Deal, the “Offering”).  Each Unit will consist of one common share and one common share purchase warrant (a “Warrant”), with each Warrant entitling the holder to purchase one common share at a price of $3.90 for a period of two years.
The Offering will take place by way of a private placement to accredited investors in such provinces of Canada as the Underwriters may designate, and otherwise in those jurisdictions where the Offering can lawfully be made on a private placement basis.  The securities issued under the Offering will be subject to a four month and one day hold period from the date of issue in accordance with applicable securities laws in Canada, and potentially additional restrictions under the laws of other jurisdictions in which the Offering may be made.
This news release does not constitute an offer to sell the Shares in the United States or to US persons. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and they may not be offered or sold in the United States or to a US person unless an exemption from registration is available.

Click here to read the full press release.