Investors Information TSX.v: IMIN

2019 News

Vancouver, British ColumbiaiMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the “Company” or “iMining”) announces that it has received conditional approval from the TSX Venture Exchange (“TXV”) for the non-brokered private placement announced in conjunction with the proposed acquisition of a crypto-mining facility near Merritt, B.C. (see news release of October 22, 2019).

The private placement will raise up to $900,000 (the “Financing”) through the issuance of up to 12,000,000 units (the “Units”) at a price of $0.075 per Unit. Each Unit will be comprised of one common share and one-half of one common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to purchase one common share of iMining at a price of $0.15 per share for a period of 2 years.

The proceeds of the private placement will be budgeted as follows:

  • Purchase of mining rigs and related equipment

$550,000

  • Upgrade infrastructure

$75,000

  • Payment as consideration to vendors

$100,000

  • Operating start-up costs

$50,000

  • Financing costs and commission

$72,000

  • Working capital

$53,000

Total

$900,000

There is no material fact or material change about the Company that has not been generally disclosed.

Finders’ fees may be payable on this financing.

The transaction is subject to regulatory approvals.

ON BEHALF OF THE BOARD

iMining Blockchain and Cryptocurrency Inc.
Signed “Robert Eadie”

Robert Eadie, President & Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-602-4935 Facsimile: 1-604-602-4936
Email: investor@imining.com

Website: www.imining.com

Contact: Robert Eadie

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.

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