Yahoo Finance iMining Financing Arranged
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2019) - iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the "Company" or "iMining") announces that it has arranged a non-brokered financing by way of convertible debentures for aggregate proceeds of $2,500,000 (the "Debenture"). The Debenture will bear interest at 5.0% per annum, calculated annually and will mature 24 months from the date of issue. At maturity, any portion of the Debenture remaining unpaid must be converted into units of iMining priced at $0.10 per Unit, each Unit comprised of one common share and one warrant. Each Warrant is exercisable for a period of two years from the date of issue and will entitle the holder to purchase one common share of iMining at $0.14 per share.
In addition to general working capital, proceeds from the financing will be applied towards the purchase of a new version of Bitcoin miners and related equipment.
A finder's fee may be payable on this transaction.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45913
