Vancouver, British Columbia: iMining Blockchain and Cryptocurrency Inc. (TSX-V: IMIN) (the “Company” or “iMining”) announces the resignation of Robert Eadie as a director, President and CEO of the Company.
The Company also reports that:
- it will not be proceeding with its previously announced private placement of up to $1,000,000 at $0.05 per unit (see news release dated August 20, 2020); and
- the Company’s common shares will be consolidated on the basis of one new share for every four outstanding shares. Currently there are 38,458,265 shares outstanding, with a further 5,556,880 shares reserved for issuance upon the exercise of outstanding share purchase warrants.
The Board of Directors believes that the share consolidation will provide the Company with greater flexibility in pursuing its future plans. The proposed share consolidation is subject to TSX Venture Exchange acceptance. The Company may undergo a name change in conjunction with the proposed consolidation.
“We will soon announce the Company’s plans going forward, including any additions to the Board, and thank our shareholders for their ongoing support,” said Interim President Arca.
ON BEHALF OF THE BOARD
iMining Blockchain and Cryptocurrency Inc.
(sgd.) “Gary Arca”
Gary Arca, Interim President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.