Integrated Ventures Secures 7.0 Million Investment Deal For Purchases Of Avalon and WhatsMiner Branded Mining Equipment
February 24 2021 - 9:15AM
InvestorsHub NewsWire
Philadelphia, PA -- February 24, 2021 --
InvestorsHub NewsWIre -- Integrated Ventures, Inc, is pleased to
confirm that on 02/18/21, the Company has executed $7.0 million
Preferred Equity Investment Agreement with BHP Capital NY,
Inc.
As of 02/23/21, INTV has received a
funding in amount of $3.0 million and plans to purchase 1000+
miners, manufactured by Canaan and
MicroBT.
Due to terms of this capital raise, the Company
has canceled all oustanding Preferred Class C shares, originally
registered on 01/18/21. Under terms of this new funding agreement, BHP
Capital NY, Inc will have a right to purchase up to 4,000 of newly
registered Preferred Class D shares, valued at $1,000 and
convertible at fixed price into common
shares. In addition, the Company had issued BHP Capital
NY, Inc, five year warrants, priced at 0.60 cents, with right to
convert into common shares. If exercised, the Company will receive
an additional investment, in the amount of $3.0
million.
The Company plans to issue Form 8K
by 02/26/21, with an additional details, regarding this
investment.
Steve Rubakh, CEO of Integrated Ventures, adds
the following commentary: "We would like to thank BHP Capital NY,
Inc for continuing support. Our mining business is currently generating daily
revenues (based market pricing of BTC and ETH), ranging between
$9,000 and $9,500, which equates to annual revenues, in amount of
$3.2+ million, with margins above
65%.”
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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