HIVE Blockchain Delayed in Completion of Annual Filings Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Form 40-F

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GlobeNewswire

Publishing date:

Jul 05, 2022 • 40 minutes in the past • 4 minute learn • Join the conversation

This information launch constitutes a “designated information launch” for the needs of the Firm’s prospectus complement dated February 2, 2021 to its amended and restated brief kind base shelf prospectus dated January 4, 2022.

VANCOUVER, British Columbia, July 05, 2022 (GLOBE NEWSWIRE) — HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE) (Nasdaq: HIVE) (FSE: HBFA) (the “Firm” or “HIVE”) publicizes that it expects that its annual report on Kind 40-F (the “Kind 40-F”), which comprises its annual audited monetary statements, as nicely was its CEO and CFO certifications and its administration dialogue and evaluation submitting in Canada for the fiscal yr ended March 31, 2022 (collectively, the “Annual Filings”) will likely be launched after the scheduled submitting date of June 29, 2022. The Firm presently anticipates with the ability to file the Annual Filings on or earlier than July 15, 2022. Because of the delayed submitting, the Firm acquired a letter dated July 1, 2022 (the “Letter”) from the Itemizing {Qualifications} Division of the Nasdaq Inventory Market (“Nasdaq”) notifying the Firm that it was not in compliance with the necessities of Nasdaq Itemizing Rule 5250(c)(1) as a consequence of not having well timed filed the 40-F. The Letter has no instant impact on the itemizing or buying and selling of HIVE’s frequent shares on the Nasdaq Capital Market. The Letter states that the Firm is required to submit a plan to regain compliance with Rule 5250(c)(1) inside 60 calendar days. If the plan is accepted by Nasdaq, then Nasdaq can grant the Firm as much as 180 calendar days from the due date of the Kind 40-F to regain compliance.

The Firm has been late within the preparation of the Annual Filings as a consequence of a mix of things together with (i) the problem of assembly the shorter submitting deadline for non-venture issuers in Canada because of the Firm’s current itemizing on the NASDAQ and (ii) the speedy enhance within the Firm’s development and the accompanying enhance within the variety of transactions. The Firm doesn’t anticipate such difficulties with future filings and is making preparations to fulfill all submitting necessities for future yr ends, together with hiring extra finance employees.

About HIVE Blockchain Applied sciences Ltd.

HIVE Blockchain Applied sciences Ltd. went public in 2017 as the primary cryptocurrency mining firm with a inexperienced vitality and ESG technique.

HIVE is a growth-oriented expertise inventory within the emergent blockchain trade. As an organization whose shares commerce on a significant inventory alternate, we’re constructing a bridge between the digital foreign money and blockchain sector and conventional capital markets. HIVE owns state-of-the-art, inexperienced energy-powered knowledge centre amenities in Canada, Sweden, and Iceland, the place we supply solely inexperienced vitality to mine on the cloud and HODL each Ethereum and Bitcoin. Because the starting of 2021, HIVE has held in safe storage nearly all of its ETH and BTC coin mining rewards. Our shares present buyers with publicity to the working margins of digital foreign money mining, in addition to a portfolio of cryptocurrencies resembling ETH and BTC. As a result of HIVE additionally owns exhausting belongings resembling knowledge facilities and superior multi-use servers, we imagine our shares provide buyers a pretty solution to achieve publicity to the cryptocurrency house.

We encourage you to go to HIVE’s YouTube channel here to study extra about HIVE.

For extra data and to register to HIVE’s mailing listing, please go to www.HIVEblockchain.com. Comply with @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf of HIVE Blockchain Applied sciences Ltd.“Frank Holmes”Government Chairman

For additional data please contact:

Frank HolmesTel: (604) 664-1078

Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this information launch

Ahead-Wanting Info

Apart from the statements of historic reality, this information launch comprises “forward-looking data” inside the that means of the relevant Canadian securities laws that’s based mostly on expectations, estimates and projections as on the date of this information launch. “Ahead-looking data” on this information launch consists of, however will not be restricted to, enterprise targets and goals of the Firm; statements and data concerning the timing for the filings of the Annual Filings; and different forward-looking data regarding the intentions, plans and future actions of the events to the transactions described herein and the phrases thereon.

Elements that would trigger precise outcomes to vary materially from these described in such forward-looking data embody, however should not restricted to, the reliance of the Firm on its auditors and administration with respect to the Annual Filings, the volatility of the digital foreign money market; the Firm’s potential to efficiently mine digital foreign money; the Firm could not be capable of profitably liquidate its present digital foreign money stock as required, or in any respect; a fabric decline in digital foreign money costs could have a major damaging influence on the Firm’s operations; the volatility of digital foreign money costs; continued results of the COVID-19 pandemic could have a fabric adversarial impact on the Firm’s efficiency as provide chains are disrupted and stop the Firm from finishing up its enlargement plans or working its belongings; and different associated dangers as extra absolutely set out within the registration assertion of Firm and different paperwork disclosed below the Firm’s filings at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking data on this information launch displays the present expectations, assumptions and/or beliefs of the Firm based mostly on data presently accessible to the Firm. In reference to the forward-looking data contained on this information launch, the Firm has made assumptions concerning the Firm’s goals, targets or future plans, the timing thereof and associated issues. The Firm has additionally assumed that no important occasions happen exterior of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking data are cheap, forward-looking data will not be a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data because of the inherent uncertainty therein.