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TORONTO, March 25, 2021 (GLOBE NEWSWIRE) -- DeFi Technologies Inc. (the “
Company” or “
DeFi Technologies”) (NEO:DEFI, GR:RMJR) is pleased to announce that it has entered into letter of intent with HIVE Blockchain Technologies Ltd (“HIVE”) (TSX.V:HIVE, OTCQX:HVBTF, FSE:HBF) for a share swap arrangement, by which HIVE will receive ten (10) million DeFi Technologies common shares, representing 6.5% of the existing outstanding common shares of the Company in exchange for four (4) million HIVE common shares, representing 1.1% of Hive’s issued and outstanding common shares. The transaction, which does not involve any cash payment by either side, is expected to close on or about April 16, 2021 and is conditional on the completion of satisfactory due diligence by both parties. In addition, HIVE and DeFi Technologies plan to create a partnership surrounding the decentralized finance (DeFi) ecosystem with specific applications around Ethereum and Miner Extractable Value (MEV). The new partnership, which follows three months of discussions, will provide the Company with a strategic stake in HIVE and a broader partnership surrounding the DeFi ecosystem with a specific focus on the Ethereum based MEV space and developments surrounding it.