Vancouver, British Columbia: iMining Blockchain and Cryptocurrency Inc. (TSX-V: IMIN) (the “Company” or “iMining”) announces revisions to the pricing structure of its previously announced private placement (see press release of January 11, 2021).
The proposed private placement of up to $2,000,000 (the “Financing”) through the issuance of up to 20,000,000 units (the “Units”) is priced at $0.10 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, provided that in the event the closing price of the Company’s Shares is equal to or greater than $0.45 per share for 20 consecutive trading days, the Company may, by notice to the Warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.
The proceeds of the private placement will be budgeted as follows:
| ||$ 1,100,000|
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
Signed “Robert Eadie”
Robert Eadie, President & Chief Executive Officer
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.