/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, Aug. 9, 2017 /CNW/ - Leeta Gold Corp. (TSXV:
LTA.H) (the "Company" or "HIVE") (being renamed
HIVE Blockchain Technologies Ltd.) is pleased to report that its
non-brokered private placement (the "Private Placement"), as
previously announced on June 14,
2017, has been increased to 55 million common shares at a
price of $0.30 per share for
aggregate gross proceeds of $16,500,000, subject to the approval of the TSX
Venture Exchange (the "Exchange"). The Private Placement is fully
subscribed and funds will be held in escrow until closing of the
acquisition of the first Data Centre from Genesis, as described in
the Company's June 14, 2017 news
release. Up to 5% of gross proceeds will be paid in cash to finders
in connection with the Private Placement at closing of the
acquisition. 37,830,000 subscription receipts issued pursuant to
the Private Placement are subject to a hold period expiring
December 10, 2017 and 17,170,000 will
be subject to a hold period of four months and one day from second
closing. Proceeds from the financing will be used for the
acquisition of the first Data Centre and for general working
capital.
Trading of the common shares of the Company will remain halted
until such time as all the required documentation regarding the
Genesis Transaction has been filed with and accepted by the
Exchange and permission to resume trading has been obtained from
the Exchange.
The Company also announces that it has entered into a loan
agreement (the "Loan Agreement") with Harry
Pokrandt, the Company's President and CEO appointed on
June 20, 2017, for an aggregate
amount of $50,000 bearing interest at
a rate of 6% per annum (the "Loan"). The principal amount of the
Loan is due and payable on June 22,
2018 and is unsecured. In connection with Loan, the Company
will issue 166,666 Bonus Warrants exercisable at a price of
$0.30 per common shares for a period
of one year, subject to Exchange approval. Proceeds of the Loan
will be used for general working capital.
For corporate updates, please register to our mailing list at
www.HIVEblockchain.com and follow us on twitter
@HIVEblockchain.
Completion of the acquisition is subject to a number of
conditions, including but not limited to acceptance by the
Exchange and if applicable pursuant to the Exchange requirements,
majority of the minority shareholder approval. Where applicable,
the acquisition cannot close until the required shareholder
approval is obtained. There can be no assurance that the
acquisition will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the
management information circular or filing statement to be prepared
in connection with the acquisition, any information released or
received with respect to the acquisition may not be accurate or
complete and should not be relied upon. Trading in the securities
of the Company should be considered highly speculative.
The Exchange has in no way passed upon the merits of the
acquisition and has neither approved nor disapproved the contents
of this news release. Neither the Exchange nor its Regulation
Services Provider (as that term is defined in policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
On Behalf Of Leeta Gold Corp. (to be renamed HIVE BLOCKCHAIN
TECHNOLOGIES LTD.)
"Harry Pokrandt"
President and CEO
Forward-Looking Information
Except for the statements of historical fact, this news
release contains "forward-looking information" within the meaning
of the applicable Canadian securities legislation that is based on
expectations, estimates and projections as at the date of this news
release. The information in this news release about the
completion of the acquisition of the first Data Centre, as well as
additional Data Centres, and the closing of financings related
thereto, and other forward-looking information includes but is not
limited to information concerning the intentions, plans and future
actions of the parties to the transactions described herein and the
terms thereon.
Factors that could cause actual results to differ materially
from those described in such forward-looking information include,
but are not limited to, risks related to the Company's or Genesis
Mining's inability to satisfy a condition precedent to the
completion of the Data Centre acquisitions (including obtaining
necessary regulatory approvals and completion of the financings
thereon), other risks related to completion of the completion of
the Data Centre acquisitions and risks related to the inability of
either of the Company or Genesis Mining to perform its respective
obligations under the contemplated Data Centre
acquisitions.
The forward-looking information in this news release reflects
the current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has made assumptions about the Company's
and Genesis Mining's ability to complete the Data Centre
acquisitions and related financings. The Company has also assumed
that no significant events occur outside of the Company's normal
course of business. Although the Company believes that the
assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty
therein.
Any forward-looking information speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise.
SOURCE Leeta Gold Corp.