Blockchain Technology

iMining Closes Private Placement

iMining Technologies Inc. (TSXV: IMIN) (the “Company” or “iMining”) is pleased to announce that it has closed its non-brokered private placement of up to $1,000,000 (the “Financing”) raising $999,999.925 through the issuance of 11,764,705 units (the “Units”) at a price of $0.085 per Unit. (See news release of August 23, 2022.) Each Unit is comprised of one common share and one common share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one common share of iMining at a price of $0.21 per share for a period of 2 years, provided that in the event the closing price of the Company’s Shares is equal to or greater than $0.40 per share for 20 consecutive trading days, the Company may, by notice to the Warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.

Khurram Shroff and Saleem Moosa, directors, officers and ‘insiders’ of the Company, purchased 941,176 and 1,404,708 Units, respectively, in the Financing and the Financing is therefore considered to be a “related party transaction”, as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and Policy 5.9 of the TSX Venture Exchange, which require that the Company, in the absence of exemptions, obtain a formal valuation for, and minority shareholder approval of, the related party transaction. However, the Offering is exempt: (i) from the formal valuation requirement of MI 61-101 (and Policy 5.9) pursuant to the exemption contained in section 5.5(a) and (e) of MI 61-101, and (ii) from the shareholder approval requirement of MI 61-101 (and Policy 5.9) pursuant to the exemption contained in section 5.7(1)(a) of MI 61-101 because the fair market value of the securities sold to related parties in the Offering did not exceed 25% of the Company’s market capitalization.

All securities issued pursuant to the Private Placement are subject to a hold period of four months plus one day from the date of issuance and the resale rules of applicable securities legislation. The Company has 45,010,127 common shares issued and outstanding following the completion of the Financing. No aggregate compensation was paid by the Company for finders’ fees.

The Board announces the resignation of Gary Arca as Director and Chief Financial Officer effective September 1, 2022. Gary has been with the Company since inception and the Board thanks him for his contributions over the years and wish him the best in future endeavors. Saleem Moosa has been appointed CFO in his place.

About iMining Technologies Inc.

iMining is a publicly listed Web3.0 technology company developing technology for Crypto Mining, Decentralized Finance (“DeFi”) and Non-Fungible Tokens (“NFT”). iMining also owns BitBit Financial Inc., an ATM Network and crypto OTC Trading Platform for individual and institutions.

iMining investments are directly linked to the Bitcoin Mining, Crypto Trading, Decentralized Finance (“DeFI”) and Metaverse Non-Fungible Tokens (“NFTs”). With diverse blockchain investment and infrastructure solutions, iMining looks to be a leader in accelerating the growth of Web3.0 for the enterprise market. The Company’s operations include secure and sustainable cryptocurrency payments, staking, mining and digital asset investment designed for the scale and compliance requirements of institutional clients. iMining is committed to building strong global blockchain ecosystems and supporting inclusive access to digital tools and technologies.

ON BEHALF OF THE BOARD

Signed “Khurram Shroff“
Khurram Shroff, President & CEO

FOR FURTHER INFORMATION, please contact:
iMining Corporate Offices:
Saleem Moosa, Director
Email: investor@imining.com
Telephone: +1 (844) IMININC (464-6462)

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, 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 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.

Previous ArticleNext Article

AMPD Ventures Announces the Addition of Tanya Woods to its Board of Directors

AMPD Ventures Inc. (CSE:AMPD)(OTCQB:AMPDF)(FRA:2Q0) (“AMPD” or the “Company”), a next-generation digital infrastructure provider, is pleased to announce that Tanya Woods has been appointed to its board of directors, effective September 12, 2022.

Ms. Woods is a Canadian-American entrepreneur, technology lawyer, and policy leader working in the verticals of mainstream and digital media, telecommunications, AI and blockchain, and high-performance computing infrastructure. She is currently the CEO of Futurity Partners, a strategic consulting firm advising public and private sector organizations on exponential and innovative technologies, digital policy, and ESG matters.

“I am delighted to be joining the experienced Board of AMPD Ventures as the Company and its subsidiaries break ground in the metaverse,” said Woods, “the Company’s multi-faceted approach from enabling mobile high-performance computing infrastructure to supporting first class metaverse and digital content creation is a unique and compelling innovation journey I look forward to talking with the team.”

“Tanya is an accomplished business leader with deep knowledge and experience in video games, digital content, high-performance computing infrastructure, ESG, and Web3,” said Anthony Brown, CEO of AMPD Ventures Inc., “she has a strong track record of successfully advancing public and private company growth objectives in these verticals making her an ideal addition to our Board, we look forward to her insights and are pleased to welcome her onboard.”

Ms. Woods has held increasingly senior executive level leadership roles advancing the commercial and regulatory agendas of global technology companies and government for nearly twenty years. She recently served as the founding Managing Director of Canada’s first Chamber of Digital Commerce, General Counsel, EVP Regulatory Affairs and Corporate Secretary of Hut 8 Mining Corp., General Counsel of the Entertainment Software Association of Canada, and Regulatory and Copyright Counsel for BCE Inc. She is also currently serving a three-year appointment as an expert advisor to UNESCO in Canada supporting the advancement of the United Nations Sustainable Development Goals.

Ms. Woods’ has received recognition as one of IT World’s Top Women in FinTech and Blockchain, a Government of Canada Leading TechWoman, CBC Trailblazer, Obama Foundation Global Civic Leader, Toastmasters International Community Leadership Award Recipient, and as a Top 40 Under 40. She studied law and global trade at the London School of Economics, University of Ottawa, and American University Washington College of Law.

About AMPD Ventures Inc.

AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, AMPD is leading the transition to the next generation of computing infrastructure as ‘the hosting company of the Metaverse.’ Through a mix of infrastructure as a service (“IaaS”) and an upgraded, high-performance cloud offering, we are meeting the low-latency requirements of multiplayer video games and eSports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades. Additional information about the company is available on SEDAR and our website at http://www.ampd.tech.

For further information please contact Investor Cubed Inc.:

Neil Simon, CEO
Telephone: (647) 258-3310
Email: nsimon@investor3.ca

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ “Anthony Brown”

Anthony Brown
CEO & Director
AMPD Ventures Inc.
Telephone: 604-332-3329
Email: ir@ampd.tech

Cautionary Statement

Forward Looking Statements

Certain statements made herein may contain forward-looking statements or information within the meaning of the applicable Canadian securities laws. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

SOURCE: AMPD Ventures Inc.

iMining Technologies Signs MOU with Invest Alberta to Change the Face of the Energy Sector and to bring Global Blockchain Opportunity to Alberta

iMining Technologies Inc. (TSXV: IMIN) (the “Company” or “iMining”) announces that momentum in Alberta’s technology investment sector continues to build as Canadian based iMining and Invest Alberta, have signed a Memorandum of Understanding (MOU) to support the expansion of iMining and its subsidiaries, BitBit Financial and Metaverse Advisory Group, within the Province of Alberta announcing plans today to relocate its head office to Calgary.

Under the terms of the MOU, Invest Alberta will work with iMining and its subsidiaries to navigate the regulatory ecosystem, optimizing federal and provincial programs supporting transformative energy innovation, technology and fintech in the province. Alberta is one of the provinces currently working on favorable blockchain and crypto regulations. In return, iMining has announced plans to relocate its head office to Calgary and make Alberta its global headquarters. iMining is committed to bringing investment into the province and plans to create forty high-quality jobs within the next thirty-six months and anticipates a further investment of $50 million in growth and expansion projects.

The Company is a Web 3.0 pioneer in Decentralized Finance and has 4 strategic business operations which includes digital asset mining and digital asset trading in addition to providing Web3.0 solutions to its clients. iMining has recently funded a white paper produced by the Canadian Blockchain Consortium, highlighting how the Blockchain Technology can enhance Alberta’s economy. This white paper was launched at the Alberta Technology Symposium. Additionally, iMining has recently sponsored the AI Week presented by the Alberta Machine Intelligence Institute in Edmonton.

The vast natural gas resources in Alberta and the cool weather make Alberta an ideal place for digital currency mining. Bitcoin Mining Centers and Data Centers have the potential to supply computing power needs for Bitcoin miners and many Artificial Intelligence and Machine Learning activities, including those in Alberta’s oil and gas, fintech, creative, technology and renewable energy sectors. iMining has designed a bitcoin mining ecosystem that will create commercially viable solutions for the stranded gas wells across Alberta.

iMining looks to further develop the blockchain technology and Web3 ecosystem, coupled with how Alberta can take advantage of the technologies of the future in the Oil and Gas and the energy sectors.

“Alberta’s tech sector continues to grow and it is encouraging to have iMining Technologies identify our province as the best place for their business. This MOU sets the stage for the further growth and development of blockchain technologies across multiple industries and I look forward to seeing the development and marketing of more made-in-Alberta solutions.” Tanya Fir, Minister of Jobs, Economy and Innovation

“With an abundant supply of natural gas, our low corporate tax rate, reduced red tape, and a highly skilled workforce, Alberta presents an enormous opportunity for iMining. We are committed to diversifying our energy sector, and digital currency mining presents another opportunity to do just that and create jobs for hundreds of Albertans, while ensuring our resources are used to their fullest extent.” Dale Nally, Associate Minister of Natural Gas and Electricity

“Alberta is embracing digital transformation and changing the way finance works. There is enormous potential for blockchain technology to add value to our thriving technology ecosystem, paired with a world-leading oil and gas sector in Alberta and supported by a skilled workforce. We look forward to welcoming iMining to Alberta as more companies see the province as a destination of choice for global investment.” Rick Christiaanse, CEO, Invest Alberta

“Blockchain technology provides a clear pathway for the Alberta oil and gas industry to utilize stranded gas and develop regulatory and technology capabilities. Alberta can truly be a leader of the future economy and we are excited to work with Invest Alberta to make this happen.” Khurram Shroff, CEO, iMining Technologies

About iMining

iMining Technologies is helping to shape the Canadian blockchain and Cryptocurrency ecosystem. We are a driving force and a huge contributor in bringing the proof of stake technology to market.

Incorporating a proprietary, best-in-class, staking, investing, and mining process, iMining ensures robust security, reliability, and scalability; while removing the technical complexity of deploying, managing validators, holding, or investing in Cryptocurrencies.

Learn more at www.imining.com

About Invest Alberta

Invest Alberta is dedicated to investment attraction, with a mandate to engage the world and provide high-end tailored support to companies, investors, and major new projects. With team members in key markets around the world, Invest Alberta works to break down barriers so investors and businesses can start up, scale up, and succeed without limits.

Learn more at www.investalberta.ca

ON BEHALF OF THE BOARD

Signed “Khurram Shroff“
Khurram Shroff, President & CEO

FOR FURTHER INFORMATION, please contact:
iMining Corporate Offices:
Saleem Moosa, Director
Email: investor@imining.com
Telephone: +1 (844) IMININC (464-6462)

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, 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136452