Integrated Ventures Secures 7.0 Million Investment Deal For Purchases Of Avalon and WhatsMiner Branded Mining Equipment

Rhea-AI Summary

Integrated Ventures, Inc has executed a $7.0 million Preferred Equity Investment Agreement with BHP Capital NY, Inc. The company has received $3.0 million of this funding and plans to acquire over 1000 miners from Canaan and MicroBT. The agreement allows BHP Capital to purchase up to 4,000 Preferred Class D shares convertible into common shares. CEO Steve Rubakh reported daily revenues from its mining operations ranging from $9,000 to $9,500, translating to annual revenues exceeding $3.2 million.

Positive

• Executed a $7.0 million Preferred Equity Investment Agreement.
• Received $3.0 million funding to purchase over 1000 mining equipment.
• Potential additional investment of $3.0 million from exercise of warrants.

Negative

• None

PHILADELPHIA, Feb. 24, 2021 /PRNewswire/ -- 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.

Contact:
Steve Rubakh 
+1 (215) 613-1111 
sr@emsfindapp.com

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SOURCE Integrated Ventures, Inc

FAQ

What is the recent investment deal for INTV?

Integrated Ventures has secured a $7.0 million Preferred Equity Investment Agreement with BHP Capital NY, Inc.

How much funding has INTV received so far?

As of February 23, 2021, Integrated Ventures has received $3.0 million from the investment agreement.

What does INTV plan to do with the investment?

The company plans to purchase over 1000 mining machines manufactured by Canaan and MicroBT.

What are the expected revenues from INTV's mining business?

INTV's mining business is expected to generate daily revenues between $9,000 and $9,500, leading to annual revenues over $3.2 million.

What share conversion rights does BHP Capital have?

BHP Capital can purchase up to 4,000 Preferred Class D shares, convertible into common shares, under the new funding agreement.