HIVE Blockchain Announces Bought-Deal Financing and Acquisition of Second Data Centre

HIVE Blockchain Technologies (TSXV:HIVE) has announced it has entered into an agreement with a syndicate of underwriters led by GMP Securities LP, pursuant to which GMP will purchase, on a bought deal basis, 20 million common shares of the company at $1.50 per share for aggregate gross proceeds of $30 million.
As quoted in the press release:

 The President’s List is expected to make up 25% of the purchase. In connection with the Offering, the Company may pay a cash fee of up to 6% of the gross proceeds of the Offering, payable at closing. 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. All Shares 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 Shares 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.
The Offering is expected to close on or about October 11, 2017 (the “Closing Date”). Closing of the Offering is subject to certain conditions typical for a transaction of this nature and the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange”).

Click here to read the full press release.