Integrated Ventures Secures 3.0 Million Preferred Equity Investment To Be Used For Purchases Of Mining Equipment
January 22 2021 - 9:30AM
InvestorsHub NewsWire
Philadelphia, PA -- January 22, 2021 --
InvestorsHub NewsWire -- Integrated Ventures, Inc, today announced
that it has executed a binding term sheet for 3.0 million Preferred
Equity Investment, led by BHP Capital NY, Inc. The proceeds will be
used by the Company for working capital and general purposes,
including infrastructure expansion, equipment purchases and
repayment of corporate debt.
Steve Rubakh, CEO of Integrated Ventures, is
pleased to add the following commentary:
"This is a significant development for our
Company and we would like to thank BHP Capital NY, for showing
confidence and understanding our business strategy. In next few
days, we expect to receive an initial tranch and will update
shareholders with use of proceeds and details on up coming purchase
orders.
BHP Capital NY, Inc has received a right
to convert, newly registered Preferred C Series stock, into common
shares, at fixed conversion price of 0.068
cents.
Note that preferred shareholders, generally convert their
shares to common stock in two situations: (1)
IPO or (2) if conversion will result in superior
financial gain. The second scenario usually occurs when conversion
to common stock leads to increased stock value for the investor,
due to the M& A transaction, such as sale of assets or an
acquisition by another company.
Our mining business has tremendous momentum. Our
daily revenues, mainly based market pricing of BTC and ETH and
currently ranging between $5,000 and $6,000, which equates to
annual revenues in amount of $1.9 million+, with mining margins of
65%+.
The company has (1) strong balance sheet, (2)
growing revenues with significant margins, (3) reduced convertible
debt, (4) improved cash flow and stock liquidity, and (5) infusion
of growth capital.
INTV's current financial condition will bring better terms, in
regards to the future funding and potential M&A deals, as well
as greatly reduce relience on short-term funding options, that
require issuing stock at discount to the
market.
With this Preferred Equity funding round, INTV,
now has the necessary tools, to execute revenue growth and to (1)
scale its operations, (2) to capitalize on the hyper growing
cryptocurrency market and mainly (3) to purchase the latest mining
equipment.
This is a clear message to all of our
shareholders, investors and partners, both current and future, that
INTV now has the necessary financial firepower, to expand
operations and to increase value of their
investments.”
About: Integrated Ventures,Inc is Technology
Portfolio Holdings Company with focus on Hosting, Development Of
Blockchain Applications and Cryptocurrency
Mining.
For more details, please visit the Company's
website: www.integratedventuresinc.com.
Safe Harbor Statement:
The information posted in this release may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. You can identify
these statements by use of the words "may," "will," "should,"
"plans," "explores," "expects," "anticipates," "continue,"
"estimate," "project," "intend," and similar expressions.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
projected or anticipated. These risks and uncertainties include,
but are not limited to, general economic and business conditions,
effects of continued geopolitical unrest and regional conflicts,
competition, changes in technology and methods of marketing, and
various other factors beyond the company's
control.
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