oliverhugo
4年前
https://www.newsfilecorp.com/release/90025
iMining Completes Acquisition of BitBit Financial
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2021) - Further to its press release of May 26, 2021, iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the "Company" or "iMining") is pleased to announce that it has closed the transaction to acquire all of the issued and outstanding shares of BitBit Financial Inc. ("BitBit Financial") (the "Acquisition").
On July 12, 2021 ("Closing"), the Company issued its Treasury Order for 10,000,000 common shares in the capital of the Company ("Shares") to be delivered to the shareholders of BitBit, in exchange for acquiring all of the outstanding shares of BitBit, such that BitBit became a wholly owned subsidiary of iMining. No new control block was created as a result of the Acquisition. All of the shareholders of BitBit have entered into voluntary lock-up agreements pursuant to which the Shares issued to them will become free-trading as to 25% on Closing and an additional 25% every three months thereafter.
As one of the conditions of the Acquisition, upon TSX Venture Exchange acceptance of BitBit's nominee, BitBit has the right to appoint a director to iMining's Board, and an announcement is expected shortly.
"With the recent closing of BitBit, we are very excited about this opportunity to revolutionize the fintech industry. We believe that the recent acquisition of BitBit financial will open the door to massive opportunities such as lending, and the regulated exchange of digital currencies. BitBit Financial is a key piece in connecting the digital asset industry to the traditional finance sector. This acquisition will also allow us to empower everyday investors globally, and this is just the beginning," said Khurram Shroff, the Chairman and CEO of iMining.
BitBit Financial is a private company which sells digital goods and services. BitBit is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money service business dealing in virtual currencies with registration number M21068159. BitBit has a virtual currency ATM Network and is working on developing a digital asset exchange trading platform which will provide users the easiest and safest way to buy and sell virtual currencies.
"I'm very excited to become a part of the iMining ecosystem," said Roman Rana, the CEO of BitBit Financial. "iMining is on the frontier of the digital asset space and with their support I look forward to taking BitBit Financial to new heights."
For more information on BitBit Financial please visit https://bitbitfinancial.com/ or email at info@bitbitfinancial.com.
The Company also announces that it will be seeking regulatory approval to change its name from iMining Blockchain and Cryptocurrency Inc. to iMining Technologies Inc. to better reflect the diverse businesses under the iMining umbrella and future synergistic acquisitions.
About iMining Blockchain and Cryptocurrency Inc.
iMining is a growth-oriented, TSXV listed company, focused on linking traditional capital markets with blockchain investment opportunities. Through its wholly-owned subsidiary, the company provides retail and institutional investors a safe and secure way to stake Ethereum 2.0 using proprietary and secure proof of stake methods. We are driven by our core values to operate with transparency, efficiency, and sustainability as we work toward building long-term shareholder value.
ON BEHALF OF THE BOARD
Signed "Khurram Shroff"
Khurram Shroff, Chairman, President & Chief Executive Officer
FOR FURTHER INFORMATION, please contact:
iMining Corporate Offices:
Robert Eadie, Director
Email: investor@imining.com
Telephone: 1-604-602-4935 ? Facsimile: 1-604-602-4936
Toll Free: 1-866-602-4935
Evan Eadie, Corporate Development
Email: eeadie@imining.com
Telephone: (604) 602-4935 ext. 203
Toll Free: 1-866-602-4935
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.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, future business operations of BitBit) and reflect management's current expectations and assumptions, and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of BitBit's activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
oliverhugo
4年前
iMining Announces Appointment of Khurram Shroff as Chair of the Board of Directors
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2021) - iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the "Company" or "iMining") today announced the appointment of Khurram Shroff as the Chair of the Board of Directors of iMining, effective May 4th, 2021.
Robert Eadie, Chief Executive Officer of iMining said: "We're excited to welcome such an experienced and respected leader of Khurram's caliber to the firm as Chair of the Board. Khurram's leadership of various blockchain businesses through several cycles of growth, innovation and transformation, as well as his insights and relationships, will be invaluable to iMining as we facilitate the institutionalization of cryptocurrencies as an asset class."
Mr. Shroff has over ten years of experience in the blockchain industry. He was most recently Chairman of IBC Group. In this role, Mr. Shroff acted as a trusted advisor for some of the most prominent projects in blockchain and oversaw the implementation of the firm's moving from Dubai to Toronto. Mr. Shroff built his career in working for Canadian Family office in real estate, rising to top roles, including leading some real estate projects globally as well as other business investments across Europe, Middle East and Africa. He also served as a civilian sponsor and member of Canadian Armed Forces College and is a member of the University Club of Toronto.
Gary Arca, Board Member and CFO of iMining, said: "Mr. Khurram Shroff will bring an invaluable global perspective to iMining, and we're confident that our rapidly evolving business units in Digital Asset Staking, Mining, Asset Management, Investment Banking, Principal Investments, and Trading will all benefit from his growth orientation and close involvement with the Board and our team."
"I'm excited to join the iMining Board of Directors and as Chairman, to help guide the Company through its next cycle of global expansion as it continues executing on its mission of bringing cryptocurrencies and digital assets to the world's leading institutions," said Mr. Shroff. "I look forward to working closely with the iMining team as they build on their early-mover advantages."
iMining also announces the departure of Anders Nilsson as a director of the Company. The Board wishes to express its gratitude to Mr. Nilsson for his years of service and wishes him every success in his future endeavours.
ON BEHALF OF THE BOARD
iMining Blockchain and Cryptocurrency Inc.
Signed "Robert Eadie"
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION, or to arrange an interview with any of our team, please contact:
iMining Corporate Offices:
Robert Eadie, Chief Executive Officer and Director, iMining
Email: investor@imining.com
Telephone: 1-604-602-4935 ? Facsimile: 1-604-602-4936
Toll Free: 1-866-602-4935
Evan Eadie, Corporate Development
Email: eeadie@imining.com
Telephone: (604) 602-4935 ext. 203
Toll Free: 1-866-602-4935
About iMining Blockchain and Cryptocurrency
iMining is a growth oriented, TSXV-listed company, focused on linking traditional capital markets with blockchain investment opportunities. The Company provides retail and institutional investors a safe and secure way to stake Ethereum 2.0 using proprietary and secure proof of stake methods. We are driven by our core values to operate with transparency, efficiency and sustainability as we work toward building long-term shareholder value.
oliverhugo
4年前
iMining Signs Letter of Intent to Acquire Bitbit Financial
https://www.newsfilecorp.com/release/85223
Vancouver, British Columbia--(Newsfile Corp. - May 26, 2021) - iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the "Company" or "iMining") is pleased to announce that it has entered into a Letter of Intent dated May 21st, 2021 (the "LOI"), with BitBit Financial Inc., ("BitBit Financial"), for iMining to acquire all of the issued and outstanding shares of BitBit Financial (the "Acquisition"), in consideration of 10,000,000 shares of iMining.
BitBit Financial, headquartered in Brampton, Ontario, is a FINTRAC-licensed Canadian Bitcoin ATM Network operator, and is developing a digital asset exchange trading platform.
The final structure of the Acquisition is subject to receipt of tax, corporate and securities law advice for both iMining and BitBit Financial.
Terms of the Agreement
Under the terms of the LOI, on or prior to the closing date of the Acquisition or June 22, 2021 (the "Closing Date"), iMining will issue 10,000,000 common shares (the "iMining Shares") to acquire all of the outstanding shares of BitBit Financial on a one-for-one exchange ratio. There are currently 10,000,000 BitBit Financial shares outstanding.
The holders of any other outstanding convertible, exchangeable or exercisable securities of BitBit Financial shall become entitled to receive iMining Shares upon the conversion, exchange or exercise thereof, based on the same one-for-one exchange ratio.
It is contemplated that the proposed Transaction will constitute an "Expedited Acquisition" by the Company, as such term is defined under TSX Venture Exchange ("TSXV") Policies.
The parties acknowledge that upon completion of the Acquisition, all of the iMining Shares issued to acquire BitBit Financial will be subject to voluntary escrow provisions whereby the shares will become free-trading as to 25% on closing, and an additional 25% every three months thereafter.
The parties have agreed to undertake commercially reasonable efforts to negotiate and settle the terms of a Definitive Agreement by June 7, 2021 and to close the Acquisition on or before June 22, 2021. The LOI terminates in the event the parties fail to execute a Definitive Agreement by June 7th, 2021, unless extended in writing by both parties.
Conditions for Closing
The Letter Agreement provides that closing of the Acquisition is subject to several conditions including, among other things: (i) requisite corporate approval of the various transactions contemplated by the Acquisition, from the board of directors of iMining and the shareholders of BitBit Financial, as applicable and required; and (ii) BitBit's nominee as a director of iMining submitting a Personal Information Form to the TSXV for approval.
Business of BitBit Financial
BitBit Financial is a private company which sells digital goods and services. BitBit is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money service business dealing in virtual currencies with registration number M21068159. BitBit has a virtual currency ATM Network and is working on developing a digital asset exchange trading platform which will provide users the easiest and safest way to buy and sell virtual currencies.
For more information on BitBit Financial please visit https://bitbitfinancial.com/ or email at info@bitbitfinancial.com.
About iMining Blockchain and Cryptocurrency Inc.
iMining is a growth-oriented, TSXV listed company, focused on linking traditional capital markets with blockchain investment opportunities. Through its wholly-owned subsidiary, the company provides retail and institutional investors a safe and secure way to stake Ethereum 2.0 using proprietary and secure proof of stake methods. We are driven by our core values to operate with transparency, efficiency, and sustainability as we work toward building long-term shareholder value.
ON BEHALF OF THE BOARD
Signed "Robert Eadie"
Robert Eadie, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
Telephone: 1-604-602-4935 ? Facsimile: 1-604-602-4936
Email: investor@imining.com
Website: www.imining.com
oliverhugo
4年前
iMining Launches Cardano Staking $IMIN
https://www.newsfilecorp.com/release/84571
iMining Launches Cardano Staking
Vancouver, British Columbia--(Newsfile Corp. - May 20, 2021) - iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the "Company" or "iMining") announces that after extensive research and testing, iMining Blockchain and Cryptocurrency Inc. ("iMining" or the "Company") is set to launch a proprietary staking service for another digital asset, Cardano. With the addition of a new asset to its host of services, iMining is poised for another round of growth.
May 20, 2021: iMining announces the expansion of its staking service to now include Cardano tokens (Symbol: ADA). The Company currently focuses on Ethereum's proof-of-stake concept; by adding Cardano staking to its host of services, iMining seeks to bolster its presence as a leading staking service in the crypto world. Cardano, commonly referred to as the third generation of blockchain, seeks to address known issues of sustainability, interoperability, and scalability, which are apparent in the older cryptocurrencies.
The Cardano blockchain relies heavily on staking pools, whereas other blockchains like Ethereum depend on individual staking nodes. With Cardano, iMining will launch a staking pool helping ADA token holders to participate through a secure and reliable infrastructure. "Instead of needing to purchase special equipment to compete for newly minted network tokens, users can easily delegate their funds through iMining's stake pool," said Khurram Shroff, Chairman of the board of directors for iMining.
"Also, with other digital assets, staking means you agree to lock up your tokens for a certain period, during which they cannot be spent. However, this is not the case with Cardano, making it an excellent option for those who would prefer flexibility but would still like to exercise the range of choices available to them in the crypto space," he added.
The newer digital currency supports an incentivized model that is steadily gaining popularity amongst its users. As per the creators of Cardano, incentives ensure the longevity and health of the crypto network and ecosystem. Mr. Shroff, while discussing this newer structure, said, "Cardano is an excellent way to earn passive 'ADA' income."
"As it expands its host of blockchain offerings, the Company's strategic emphasis on its 'HODL' strategy and its continuous focus on expanding and diversifying its business operations is expected to generate substantial shareholder value," said Khurram Shroff.
"For the rest of 2021, we are laying the groundwork to drive further growth for iMining, by amplifying our focus on initiatives that will help in the widescale adoption of crypto assets. Our team is relentlessly working to continue to strengthen and refine iMining's strategy while at the same time ensuring that we create and maintain long term value for all our stakeholders," concluded Khurram Shroff.
About iMining Blockchain and Cryptocurrency Inc.
iMining is a growth-oriented, TSXV listed company, focused on linking traditional capital markets with blockchain investment opportunities. Through its wholly-owned subsidiary, the company provides retail and institutional investors a safe and secure way to stake Ethereum 2.0 using proprietary and secure proof of stake methods. We are driven by our core values to operate with transparency, efficiency, and sustainability as we work toward building long-term shareholder value.
ON BEHALF OF THE BOARD
Signed "Khurram Shroff"
Khurram Shroff, Chairman of the Board
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
Telephone: 1-604-602-4935 ? Facsimile: 1-604-602-4936
Email: investor@imining.com
Website: www.imining.com
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.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance, including, but not limited to, future business operations of iMining. They reflect management's current expectations and assumptions, and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of iMining's activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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Renee
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