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RETRANSMISSION: HIVE Blockchain Announces Rebranding and Name Change to HIVE Digital Technologies Ltd. to Reflect our HPC Strategy and Updates Bitcoin Equivalent for Fiscal 2023
This news release constitutes a "designated news release" for the purposes of the Company's prosp...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"RETRANSMISSION: HIVE Blockchain Announces Rebranding and Name Change to HIVE Digital Technologies Ltd. to Reflect our HPC Strategy and Updates Bitcoin Equivalent for Fiscal 2023This news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated May 10, 2023 to its short form base shelf prospectus dated May 1, 2023.Vancouver, British Columbia--(Newsfile Corp. - July 6, 2023) - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the Company\" or \"HIVE\") a global leader in blockchain technology, today announces its intent to undergo a strategic rebranding including a name change to \"HIVE Digital Technologies Ltd.\" (the \"Name Change\") to better reflect the Company's evolving expansion into fast tracking our HPC data centres by utilizing our Nvidia high performance Graphics Processing Unit (\"GPU\") chips for the mass adoption trend in Artificial Intelligence (\"AI\"). HIVE has been a pioneering force in the cryptocurrency mining sector since 2017. The intent of the name change signals a significant strategic expansion to harness the potential of our green energy data centres and of GPU Cloud compute technology, a vital tool in the world of AI, machine learning, and advanced data analysis since the launch of ChatGPT.Currently, the common shares (\"Shares\") of the Company trade on the TSX Venture Exchange (\"TSXV\") under the symbol \"HIVE\" and on the Nasdaq Capital Market (\"Nasdaq\") under the symbol \"HIVE\". Certain common share purchase warrants of the Company (the \"Warrants\"), which were issued pursuant to the automatic exercise on January 11, 2022, of the 19,170,500 special warrants previously issued on November 30, 2021, are currently listed for trading on the TSXV under the symbol \"HIVE.WT\". The Company will not be changing any of its trading symbols and it will not be undertaking any consolidation of share capital in connection with the Name Change. The Company expects that the Name Change will be effective on or about July 12, 2023 and that the Shares and the Warrants will commence trading under its new name on the TSXV and Nasdaq shortly after that. Completion of the Name Change is subject to the receipt of all regulatory approvals including the approval of the TSXV.The Name Change does not affect the Company's Share or Warrant structu...