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Hive Blockchain Technologies Ltd: HIVE Blockchain Announces Closing of USD $15 Million Convertible Debenture Private Placement

Hive Blockchain Technologies Ltd: HIVE Blockchain Announces Private Placement of Convertible Debentures

HIVE Blockchain Announces Private Placement of Convertible Debentures - Press Release

The Debentures will mature on the date that is 60 months from the date of issuance, bearing interest at a rate of 8% per annum.  The Debentures will be issued at par, with each Debenture being redeemable by HIVE at any time, and convertible at the option of the holder into common shares (each, a “Share”) in the capital of the Company at a conversion price of CAD$3.00 per Share.  Interest will be payable monthly and principal will be payable quarterly.  In addition, U.S. Global will be issued 5.0 million common share purchase warrants (the “Warrants”). Each whole Warrant will entitle U.S. Global to acquire one common at an exercise price of CAD$3.00 per Share for a period of three years from closing.

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