Vancouver, British Columbia – iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the “Company” or “iMining”) reports on the proposed financing and transaction to acquire a crypto-mining facility near Merritt, B.C. as announced last October 22, 2019.
Due to current market conditions which have posed difficulties in closing the financing that was part and parcel of the proposed acquisition, the Company and Future Farms have mutually agreed to terminate the Letter of Intent (“LOI”) entered into in October, 2019. In accordance with the terms of the LOI, the initial payment of US$75,000 to Future Farms is refundable.
The Company remains confident that the cryptocurrency markets can bring significant value to its shareholders and intends to continue to pursue opportunities in this industry.
ON BEHALF OF THE BOARD
iMining Blockchain and Cryptocurrency Inc.
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.