Integrated Ventures, Inc. (OTCQB: INTV) is engaged within the acquisition, development, and management of companies operating within the cryptocurrency industry. Among the various operations include cryptocurrency mining, equipment manufacturing, sales of branded mining rigs, and blockchain software development. Shares of the diversified cryptocurrency company climbed 38% on Thursday, May 3, 2018. Over the past month, Integrated Ventures, Inc. has seen average daily volume of 65,212 shares. However, volume of 305,257 shares or dollar volume of $531,147, exchanged hands on the day.
Shares of Integrated Ventures, Inc. jumped today after the company announced that it has acquired the remaining assets of digiMINE, LLC, after executing an asset purchase agreement. Integrated Ventures will acquire the remaining assets consisting of 97 mining rigs, cryptocurrency and cash. In exchange, digiMINE, LLC will receive 20,000 shares of restricted Preferred B stock. Here is the full press release detailing of the asset purchase agreement:
Integrated Ventures, Inc. Press Release:
PHILADELPHIA, May 3, 2018 /PRNewswire/ — Integrated Ventures, Inc. (OTCQB: INTV) (the “Company”), today announced that it has executed Asset Purchase Agreement (“APA”) to acquire the remaining assets of digiMINE, LLC, consisting of mining rigs, digital currency and cash.
Pursuant to the executed APA, the aggregate consideration for all the assets being acquired, consist of 20,000 Restricted Preferred B Shares, to be issued to the digiMINE, LLC.
The Asset Purchase Agreement (“APA”) involves the purchase of (1) 97 assorted ASIC miners and related mining equipment, (2) $200,000 in cash and (3) Sia UI and wallet with 554,702 digital coins, currently valued at estimated $16,500.
Use of proceeds for cash consist of purchasing an additional 70 ASIC S9 miners and investing into equipment related to the power capacity for the newly opened 5,900 sq ft warehouse facility, located in Marlboro, NJ.
Following the completion of this equity based APA, Integrated Ventures will own 817 assorted cryptocurrency miners, consisting of Antminer S9, Antminer L3, Antminer X3, Antminer A3, Nemesis 8G and Panda B3 Pro models.
Steve Rubakh, CEO of Integrated Ventures, Inc, comments: “The Company is marching towards its internal goal to deploy 1,000 mining rigs by August 1, 2018. INTV has relocated all mining equipment from Armstrong St, PA to Paul St, PA, which resulted in annual savings of $21,000 and commenced the mining operations at Boundary St, NJ with an initial connection of 45 mining rigs. In addition, we are pleased to report that the Company is in final states of finalizing the settlement agreement with LG Capital, in regards accounts payable item, in the amount of $135,000 and anticipates retiring this non-convertible debt within 14 days, via cash payment.”
About Integrated Ventures Inc: Integrated Ventures is focused on acquiring, launching and operating companies in the cryptocurrency sector (“BitcoLab”), mainly in digital currency mining, equipment manufacturing, sales of branded mining rigs (“Nemesis”) and blockchain software development (“LoanFunder”).
For more details, please visit www.integratedventuresinc.com.
***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 the risks involved in cryptocurrency investing.
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.
