HIVE Files Preliminary Base Shelf Prospectus to Replace Expiring Base Shelf Prospectus and Provides a Corporate Update

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VANCOUVER, British Columbia, March 20, 2023 (GLOBE NEWSWIRE) -- HIVE Blockchain Technologies Ltd. (“HIVE” or the “Company”) (Nasdaq: HIVE; TSXV: HIVE), today announced that, in order to replace its prior base shelf prospectus and corresponding shelf registration statement that expired on February 27, 2023, it has filed a preliminary short form base shelf prospectus (once filed in final form and receipted by the relevant Canadian securities regulatory authorities, the “Shelf Prospectus”) with the securities commissions in each of the provinces and territories of Canada. Simultaneously, HIVE terminated a corresponding shelf registration statement on Form F-10 with the U.S. Securities and Exchange Commission (the “SEC”) under the U.S./Canada Multijurisdictional Disclosure System. The Shelf Prospectus, when made final or effective, will allow HIVE to offer up to USD$100,000,000 of common shares, preferred shares, subscription receipts, warrants, options or any combination thereof during the 25-month period that the Shelf Prospectus will be effective. The Shelf Prospectus will enable HIVE to potentially access new capital if and when needed. The amount and timing of any future offerings will be based on the Company’s financial requirements and market conditions at the time.

The specific terms of any future offering under the Shelf Prospectus will be established at the time of such offering. At the time any of the securities covered by the Shelf Prospectus are offered for sale, a prospectus supplement containing specific information about the terms of such offering will be filed with applicable Canadian securities regulatory authorities. The securities covered by the Shelf Prospectus have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold in the United States or to United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. No securities may be sold, nor may offers to buy be accepted, prior to the time the Shelf Prospects becomes effective.