PHILADELPHIA, Jan. 23, 2018 /PRNewswire/ -- Integrated Ventures, Inc (INTV) ("the Company") is pleased to announce today that it has received $750,000 Equity Investment from an Institutional Investor.
The Company had agreed to issue:
- 462,900 - Common Shares (restricted)
- 347,175 – Stock Warrants.
The use of proceeds for this funding round as follows:
- to purchase mining rigs and related equipment from Bitmain Technologies
- to fund a security deposit for the purchase of Commercial Real Estate
- to initiate the development of the LoanFunder.
Steve Rubakh, Integrated Ventures, CEO adds the following commentary: "This Equity Investment replaces a Term Sheet that was signed on 12/21/2017. The management team had decided to move forward with this funding instrument due to the following reasons: (1) it keeps our balance sheet debt free, (2) it offers all-in-one cash infusion vs multiple funding rounds, (3) it eliminates need to file S1, which usually takes 60 to 90 days to became effective and saves $25,000 in legal expenses, (4) it provides a non-dilutive structure of this transaction and (5) it allows the Company to place the purchase order for mining equipment and commercial real estate. Today's announcement reinforces our solid financial position, eliminates the need to issue any debt and represents a well timed opportunity to expand our operations."
About Integrated Ventures Inc:
Integrated Ventures is focused on acquiring, launching and operating companies in the cryptocurrency sector: (1) digital currency mining ("BitcoLab"), (2) sales and manufacturing of mining rigs and related equipment ("Nemesis") and (3) blockchain software development ("LoanFunder").
***About Cryptocurrency Investments & Risks***
Integrated Ventures urges all current and potential investors to visit: (1) SEC website: https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11, (2) NASAA website: http://www.nasaa.org/44073/nasaa-reminds-investors-approach-cryptocurrencies-initial-coin-offerings-cryptocurrency-related-investment-products-caution/ and (3) FINRA website: https://www.finra.org/investors/highlights/dont-fall-cryptocurrency-related-stock-scams to understand all potential risks involved in cryptocurrency investing.
Safe Harbor Statement:
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements.
These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements.
More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.