Vancouver, British Columbia - iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the “Company” or “iMining”) reports that it has been granted a 30-day extension to the deadline for filing final materials for the non-brokered financing it announced on June 3, 2020.
The financing proposes to raise up to $1,000,000 through the issuance of up to 20,000,000 units (the “Units”) at a price of $0.05 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 $0.10 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 $0.30 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.
Due to current market conditions and the limitations imposed by COVID with respect to gatherings for interested investors and Company presentations, the deadline date for filing final materials on the private placement has been extended to August 19, 2020.
ON BEHALF OF THE BOARD
iMining Blockchain and Cryptocurrency Inc.
Signed “Robert Eadie”
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
Telephone: 1-604-602-4935 ♦ Facsimile: 1-604-602-4936
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.