Brief: Genesis Mining Attempts To Take Over HIVE Blockchain Board

HIVE Digital Technologies

22/04/2019 22:17

April 22 (Reuters) - HIVE Blockchain Technologies Ltd
 HIVE.V :
    * GENESIS MINING ATTEMPTS TO TAKE OVER HIVE BLOCKCHAIN BOARD
IN
REACTION TO DEMAND FOR RETURN OF US$50 MILLION FROM GENESIS AND
RESOLUTION OF MATERIAL BREACHES OF THE MASTER SERVICE AGREEMENT
    * HIVE BLOCKCHAIN TECHNOLOGIES - ON APRIL 19 GENESIS MINING
REQUISITIONED MEETING OF SHAREHOLDERS FOR PURPOSE OF REMOVING
DIRECTORS INDEPENDENT OF GENESIS
    * HIVE BLOCKCHAIN - ON APRIL 20 HIVE BOARD APPOINTED
INDEPENDENT
SPECIAL COMMITTEE TO DEAL WITH REQUISITION, RELATED DISPUTES
BETWEEN GENESIS & CO
    * HIVE BLOCKCHAIN - MEETING REQUISITION IN REACTION TO
FORMAL
NOTICE WHICH CO PROVIDED ON APRIL 2, 2019 TO GENESIS REGARDING
MATERIAL BREACHES OF MSA
    * HIVE BLOCKCHAIN TECHNOLOGIES LTD - HIVE ESTIMATES THAT
VARIOUS
BREACHES ARE VALUED AT ABOUT US$50 MILLION TO HIVE
    * HIVE BLOCKCHAIN TECHNOLOGIES - UNDER MSA, UNLESS MATERIAL
BREACHES ARE CURED, HIVE WILL HAVE RIGHT TO TERMINATE MSA,
APPLICABLE SERVICES ORDERS FOR CAUSE
    * HIVE BLOCKCHAIN - ACTIVELY SEEKING ALTERNATIVE SERVICE
PROVIDERS
TO GENESIS IN PARTICULAR WITH RESPECT TO CO'S EQUIPMENT,
OPERATIONS IN SWEDEN

Source text for Eikon:  ID:nCNWcq3xna 
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 (Reuters.Briefs@thomsonreuters.com)