In the event the Acquisition does not receive TSXV acceptance, the Company will return the subscription funds to the holders of the Receipts, without interest or deduction.
Upon final TSXV acceptance, aggregate compensation of $142,625 and 1,141,000 finders’ warrants (having the same general terms as the Warrants forming part of the Units) will be paid by the Company to Canaccord Genuity Corp., and First Republic Capital Corporation and their selling group as finders’ fees and commissions for the portion of the Financing attributable to their efforts.
All securities issued in connection with the Financing are subject to a hold period of four months and one day in accordance with the rules and policies of the TSXV and applicable Canadian securities laws.
Acquisition
The Acquisition constitutes a fundamental acquisition under TSXV Policy 5.3. Trading of iMining’s Shares on the TSXV has been halted pending a review of the proposed transaction by the TSXV. The Company has completed most of its due diligence review of CanETH, and based on documents filed with the TSXV, the Company expects its Shares will resume trading on the TSXV on Thursday, March 11, 2021.
Both the closing of the Acquisition and the Financing remain subject to final approval of the TSXV. There is no assurance the Acquisition will complete on the terms contemplated, or at all.
See news release dated February 3, 2021 for details on the business of CanETH and the terms and conditions of the Acquisition.
ON BEHALF OF THE BOARD
Signed “Robert Eadie”
Robert Eadie, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
Telephone: 1-604-602-4935 Facsimile: 1-604-602-4936
Email: investor@imining.com
Website: www.imining.com
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.
