Integrated Ventures Secures 7.0 Million Investment Deal For Purchases Of Avalon and WhatsMiner Branded Mining Equipment
PHILADELPHIA, Feb. 24, 2021 -- 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 outstanding 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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SOURCE Integrated Ventures, Inc