Integrated Ventures, Inc. (OTCQB: INTV), today announced that it has executed Asset Purchase Agreement 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.
