Fiore Group and Genesis Mining Playmate to Launch HIVE Blockchain, Energy and Gold Ltd


  • State-of-the-art blockchain infrastructure facility produces, Ether and other alternative cryptocurrencies (e.g. Bitcoin)
  • Genesis Mining, the world’s leading hashpower provider with overheen 700,000 customers, has entered into an sensational partnership with HIVE to provide and operate up to five blockchain Gegevens Centres
  • Up to $15 million private placement financing
  • Fresh Houtvezelplaat and Harry Pokrandt appointed Interim CEO

VANCOUVER , June 14, 2018 /CNW/ – Leeta Gold Corp. (TSXV: LTA.H) (the ” Company“or” HIVE“) (being renamed HIVE Blockchain Technologies Ltd.) has entered into an arm’s length legally roping letterteken of intent dated June 8, 2018 with Genesis Mining Ltd. (” Genesis“) under which the Company will acquire and maintain certain cyrptocurrency mining gegevens centres (” Gegevens Centres“) presently operated by Genesis ter Reykjanes, Iceland . The very first Gegevens Centre, which has bot operational for just a few weeks and utilizes cutting edge computing components and infrastructure vormgeving, will be acquired from Genesis at a cost of US$9 million . Mededinger with closing (” Closing“) of this acquisition, the parties will fucking partner under a Master Service Agreement under which Genesis will be issued such number of shares of the Company spil will constitute 30% of the issued and outstanding common shares following completion of the equity financing. At Closing, Genesis will become the Company’s largest shareholder. Closing is subject to receipt of TSXV approval, completion of definitive documentation, and completion of the equity financing.

Based on the computational capacity of the very first Gegevens Centre, the historical prices, and required hash rates, and using a mine and instantly sell strategy, the trailing 12 month EBITDA would have bot approximately US$7 million .

Genesis is one of the world’s leading blockchain technology firms. Genesis is a tightly held private company managed by Jakov Dolic . The Company and Genesis have partnered with the common purpose of developing the leading listed blockchain company through the development of mining infrastructure and other related blockchain businesses. Ter addition to the rights the Company is acquiring to the initial revenue producing Gegevens Centre ter Iceland , the Company and Genesis have agreed upon the closing of future financings for HIVE to acquire up to four extra Gegevens Centres te Iceland and/or Sweden from Genesis rendering various cloud computing services including, e.g., the mining of certain cryptocurrencies.

“The blockchain has the power to switch payments and internet infrastructure,” commented Harry Pokrandt , Interim CEO at HIVE. “As cryptocurrencies and applications for the blockchain grow, the greater the need for the computational power provided by miners. This transaction positions HIVE spil a leading cryptocurrency miner te an attractive jurisdiction, Iceland , with low energy costs. The mining chance with Genesis is scalable and HIVE looks forward to being among the fastest moving companies ter this titillating industry.”

“Genesis is proud to fucking partner with HIVE te building a unique public company with instantaneous exposure to blockchain and cryptocurrencies,” commented Marco Streng , co-founder of Genesis. “With the backing of Fiore Group and Genesis, HIVE is well placed to take advantage of opportunities te the blockchain sector through the public markets. Mining has bot an incredible business for Genesis and wij look forward to proceed to expand te this area ter partnership with HIVE.”

The Gegevens Centre being acquired by HIVE has bot optimized for cryptocurrency mining and utilizes Genesis Hive, a proprietary monitoring instrument for large-scale mining. The Gegevens Centre has the plasticity to switch inbetween cryptocurrencies to concentrate computing resources on fresh and more profitable coins spil they arise.

With overheen 700,000 customers, Genesis has developed industry-leading hardware and software devices to validate blockchain transactions te exchange for digital currency prizes (mining) and to identify up-and-coming fresh blockchains. Their proprietary contraptions and expertise have enabled them to become the leading miners and owners of Ether, the crypto-fuel for the distributed application toneelpodium Ethereum, which is now the world’s 2nd largest cryptocurrency market after Bitcoin, with a market value of harshly US$35 billion . HIVE will use its hardware to mine Ether and other alternative cryptocurrencies (e.g. Bitcoin).

The market for cryptographic currencies has enlargened to overheen U$110 billion spil of June 11, 2018 and resumes to grow, but there are limited ways for investors to build up access. HIVE intends to provide investors with profitable, de-risked exposure to leading mining infrastructure and the mined cryptographic currencies themselves.

The Company intends to appoint an experienced management team on closing consisting of management from Genesis and HIVE.

The Company will finish a private placement financing of up to 50 million common shares at a price of $0.30 vanaf share, for aggregate proceeds of up to $15,000,000 , subject to the approval of the TSX Venture Exchange. Proceeds from the financing will be used for the acquisition of the very first Gegevens Centre and for general working capital. US Global Investors, an innovative and award winning asset management hard, has indicated they will provide a lead order for the financing.

HIVE is pleased to announce that at Closing, Olivier Francois , one appointee nominated by HIVE and two senior managers from Genesis will be appointed to the Company’s houtvezelplaat of directors and Harry Pokrandt will be appointed Interim CEO. At the Company’s next AGM the houtvezelplaat size will be enlargened to five and Harry Pokrandt is expected to be appointed to the houtvezelplaat.

Trading te the common shares of the Company has bot halted te accordance with the policies of the TSX Venture Exchange (the ” Exchange“) and will remain halted until such time spil all required documentation has bot filed with and accepted by the Exchange and permission to resume trading has bot obtained from the Exchange. The Company will then operate within the technology sector. Since the common shares of the Company are listed on the NEX market of the Exchange, and the acquisition does not constitute a Related Party Transaction under the policies of the Exchange, the Company is not required to seek shareholder approval for the acquisition.

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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 finished spil proposed or at all.

Investors are cautioned that, except spil disclosed ter the management information circular or filing statement to be ready ter connection with the acquisition, any information released or received with respect to the acquisition may not be accurate or accomplish and should not be relied upon. Trading ter the securities of the Company should be considered very speculative.

The Exchange has ter no way passed upon the merits of the acquisition and has neither approved strafgevangenis disapproved the contents of this news release. Neither the Exchange strafgevangenis its Regulation Services Provider (spil that term is defined te 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.)

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 spil at the date of this news release. The information te this news release about the completion of the acquisition of the very first Gegevens Centre, spil well spil extra Gegevens 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 deeds of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described ter such forward-looking information include, but are not limited to, risks related to the Company’s or Genesis Mining’s inability to please a condition precedent to the completion of the Gegevens Centre acquisitions (including obtaining necessary regulatory approvals and completion of the financings thereon), other risks related to completion of the completion of the Gegevens Centre acquisitions and risks related to the inability of either of the Company or Genesis Mining to perform its respective obligations under the contemplated Gegevens Centre acquisitions.

The forward-looking information ter this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information presently available to the Company. Te connection with the forward-looking information contained ter this news release, the Company has made assumptions about the Company’s and Genesis Mining’s capability to finish the Gegevens Centre acquisitions and related financings. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Albeit the Company believes that the assumptions inherent ter the forward-looking information are reasonable, forward-looking information is not a ensure of future spectacle and accordingly undue reliance should not be waterput on such information due to the inherent uncertainty therein.

Any forward-looking information speaks only spil of the date on which it is made and, except spil may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether spil a result of fresh information, future events or results or otherwise.

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