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This 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. – November 27, 2023) – HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (ESF: YO0) (the “Company” or “HIVE”), a leading virtual asset miner, builder and operator of “green” knowledge centers is pleased to announce that it has entered into a transfer of ownership agreement (the “Transfer of Ownership Agreement”) with Turis AB (the “Provider”) dated November 23, 2023. to obtain (the “Acquisition”) a media of knowledge and genuine real estate (collectively, the “Property”) in which it is situated, located in the city of Boden, Sweden (all amounts are in U. S. dollars unless otherwise stated).
This strategic investment aligns with HIVE’s commitment to generating long-term returns for its investors by acquiring and progressing truly extensive assets to load on its balance sheet. In addition, this additional investment supports HIVE’s sustainable expansion and strengthens its position as a key player in the virtual generation sector.
Located in Boden, Sweden, very close to our existing knowledge center, this new knowledge center was previously built as part of the European Horizon 2020 project. We look forward to further incorporating this facility into our global portfolio and using it to connect our next-generation inbound ASIC servers and increase our Bitcoin production.
Johanna Thornblad, National President of HIVE Sweden, said: “We are very pleased with this acquisition and our continued expansion into Boden. The assets are strategically located and provide HIVE with the opportunity to expand its operations, contributing to the company’s overall expansion strategy. The new data center will allow HIVE to expand its regional footprint while further demonstrating its commitment to its ESG approach, sustainable practices, environmental responsibility, and energy power with its logo, new data center powered by “green” energy. HIVE is excited about the opportunities this acquisition offers. contributes and hopes to further contribute to the economic progress and prosperity of the Boden community. “
Pursuant to the Title Transfer Agreement, HIVE will obtain the assets and certain assets located therein in exchange for an acquisition consideration payable in cash and shares of HIVE common stock: (i) up to $750,000 in cash payable; and (ii) up to $1,500,000 payable in non-unusual shares (“common shares”) of the Company’s capital in two installments. The value of the Common Shares factored to the Seller will be equal to the lesser of: (i) the final value of the Common Shares on the TSX Venture Exchange (the “TSXV”) as of the date ending two (2) business days earlier until the Closing Date of the Acquisition (the “Closing Date”); and (ii) the average final value of the Ordinary Shares on the TSXV for the five days preceding the final date on which the TSXV is open for trading (the “Issue Price”). Without prejudice to the foregoing, the value of the factor will not be less than the corresponding minimum value of the TSXV. The first payment of common shares will consist of a number of common shares equal to $1,000,000 divided by the factor value and will be paid on the final date. The second installment will be paid on the later date of: (i) the sixth month of the Closing Date; and (ii) the date on which any claim made through HIVE within six months of the Closing Date relating to a breach of warranty under the Title Transfer Agreement has been resolved, and will consist of an amount of non-unusual shares equal to $500,000 less any amount payable through the Seller to the Company in respect of such claim, divided by the Issue Price.
The final touch of the acquisition is subject to certain conditions and receipt of all regulatory approvals, including TSXV approval. All securities issued pursuant to the Transfer of Ownership Agreement will be subject to a statutory holding period of four months and one day. from the date of issue.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company indexed on the TSX Venture Exchange with a focus on sustainable green energy.
HIVE is a growth-oriented generation inventory in the emerging blockchain and high-performance computing sector. As a company whose inventories are traded on primary exchanges, we are building a bridge between the virtual currency and blockchain sectors and the classic capital markets. HIVE is aware of centers powered through green energy in Canada, Sweden, and Iceland, where we try to source green energy to mine virtual assets like Bitcoin in the cloud. Since the beginning of 2021, HIVE has maintained the primacy of its BTC money from mining rewards. in secure storage. Our inventories provide investors with exposure to operating margins from virtual currency mining, as well as a Bitcoin portfolio. Given that HIVE also owns sustainable assets such as knowledge centers and complex multipurpose servers, we believe our inventories are offering investors an attractive way to gain exposure to the cryptocurrency and high-performance computing space.
We inspired you to the HIVE YouTube channel here to learn more about HIVE.
For more facts and to subscribe to the HIVE mailing list, https://hivedigitaltechnologies. com/. Follow @HIVEDigitalTech on X and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Digital Technologies Ltd.”Frank Holmes”Executive Chairman
For information, please contact: Frank Holmesinfo@hivedigitaltech. com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes but is not limited to: business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could also cause actual effects to differ materially from those described in such forward-looking data include, but are not limited to, volatility in the virtual currency market position; the Company’s ability to successfully mine virtual currency in its entirety; the Company may not be able to profitably liquidate its existing virtual currency stock as needed, or may not be able to liquidate it at all; a significant drop in the value of virtual currencies may also have a negative effect on the Company’s operations; the Company’s ability to successfully compete with other cloud computing service providers; the regulatory environment for cryptocurrencies in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated service situations and electricity rates; the speculative and competitive nature of the generation sector; reliance on continued expansion in the use of blockchain and cryptocurrencies; legislative and other legal proceedings and challenges; government regulations; the global economic climate; dilution; long-term capital desires and uncertainty regarding further financing, the transaction described in this press release may not be consummated on the terms proposed and described herein or at all and, if such transaction is consummated, the transaction of cryptocurrencies may not achieve the expected functionality. titles for one or more reasons; The proposed transaction may not have a positive effect on HIVE’s revenue or gross mining margin; the impact of new electricity rates, which may also negatively affect profitability and operational functionality; operation of the acquired assets may not continue as currently planned, or at all; the expansion likely would not cover the curtains as currently planned, if at all; the position of the virtual currency market; the ability to successfully mine virtual currency entirely; revenues may not increase as currently expected, if at all; it would possibly not be imaginable to profitably liquidate the existing stock of virtual currency, if at all; a drop in the value of virtual currencies could have an adverse effect on operations; the volatility of virtual currency values; the Company may never achieve more effective operations, a lower cost structure or greater operational flexibility; as well as position situations in the capital market in general; risks such as the method of maintaining and increasing Bitcoin holdings and the effect of Bitcoin price depreciation on current capital; the competitive nature of the industry; currency dangers; the need for the Company to manage its expected expansion and expansion; the effects of product advancement and the need for continued technological change; the ability to have affordable and reliable power resources to manage your cryptocurrency mining assets; the effect of energy rebates or regulatory adjustments on energy regimes in the jurisdictions in which the Company operates; coverage of economic rights; the effect of government regulation and compliance on the Company and the industry; network security hazards; the company’s ability to maintain well-functioning systems; the use of key personnel; deterioration of the global economy and money market positions that hinders access to capital or increases the burden of capital; stock dilution resulting from the ATM program and other stock issuances; the layout and operation of the facilities may not occur as currently planned, or at all; the expansion likely would not cover the curtains as currently planned, if at all; the position of the virtual currency market; the ability to successfully mine virtual currency entirely; revenues may not increase as currently expected, if at all; it would possibly not be imaginable to profitably liquidate the existing stock of virtual currency, if at all; a drop in the value of virtual currencies could have an adverse effect on operations; an increase in the network problem could have an adverse effect on operations; the volatility of virtual currency values; the expected expansion and sustainable capacity of electrical power for cryptocurrency mining purposes in the relevant jurisdictions; the inability to maintain reliable and affordable power resources for the Company to operate cryptocurrency mining assets; The risks of accumulation in the Company’s electricity rates, natural fuel rates, adjustments in exchange rates, energy discounts or regulatory adjustments in the energy regimes in the jurisdictions in which the Company carries out its activities and the effect negative on the company’s profits; the ability to complete existing and long-term financings, any regulations or legislation that may prevent the Company from going out of business; old values of virtual currencies and the ability to mine virtual currencies that will be consistent with old values; an ability to anticipate and counteract the effects of COVID-19 on the Company’s business, including, but not limited to, the effects of COVID-19 on the value of virtual currencies, capital market position situations, work restrictions hard and to trips abroad and chains of origin; and the adoption or expansion of any regulation or law that would prevent the Company from operating its business or make it more expensive to do so; and other similar dangers, as discussed more fully in the Company’s disclosure documents filed through the Company at www. sec. gov/EDGAR and www. sedarplus. ca.
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 ability to realize operational efficiencies going forward into profitability; profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. 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. The Company disclaims any intention
or the legal responsibility to update or revise any forward-looking information, whether as a result of new information, long-term occasions or otherwise, except as required by law.
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