Blockchain
iMining Provides Update on Acquisition of CanETH
Vancouver, British Columbia–(Newsfile Corp. – March 9, 2021) – Further to its press releases of February 3 and February 12, 2021, iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (the “Company” or “iMining“) provides an update on its proposed acquisition of CanETH Staking Services Inc. (“CanETH“), (the “Acquisition“).
Private Placement
The Company advises it has closed its non-brokered private placement, raising $2,155,000 through the issuance of 17,240,000 subscription receipts (“Receipts“) at a price of $0.125 per Receipt (the “Financing“). The gross proceeds of the Financing are held in escrow by the Company’s counsel, Owen Bird Law Corporation, pending final acceptance by the TSX Venture Exchange (“TSXV“) of the Financing and the Acquisition.
On closing, without payment of additional consideration, the holders of the Receipts will automatically receive units (the “Units”), each Unit comprised of one common share (a “Share”) and one-half of one common share purchase warrant (a “Warrant”), with each whole Warrant entitling the holder to purchase one Share at $0.245 for a period of two years following the closing date, provided that in the event the closing price of the iMining Shares is equal to or greater than $0.45 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.
In the event the Acquisition does not receive TSXV acceptance, the Company will return the subscription funds to the holders of the Receipts, without interest or deduction.
Upon final TSXV acceptance, aggregate compensation of $142,625 and 1,141,000 finders’ warrants (having the same general terms as the Warrants forming part of the Units) will be paid by the Company to Canaccord Genuity Corp., and First Republic Capital Corporation and their selling group as finders’ fees and commissions for the portion of the Financing attributable to their efforts.
All securities issued in connection with the Financing are subject to a hold period of four months and one day in accordance with the rules and policies of the TSXV and applicable Canadian securities laws.
Acquisition
The Acquisition constitutes a fundamental acquisition under TSXV Policy 5.3. Trading of iMining’s Shares on the TSXV has been halted pending a review of the proposed transaction by the TSXV. The Company has completed most of its due diligence review of CanETH, and based on documents filed with the TSXV, the Company expects its Shares will resume trading on the TSXV on Thursday, March 11, 2021.
Both the closing of the Acquisition and the Financing remain subject to final approval of the TSXV. There is no assurance the Acquisition will complete on the terms contemplated, or at all.
See news release dated February 3, 2021 for details on the business of CanETH and the terms and conditions of the Acquisition.
ON BEHALF OF THE BOARD
Signed “Robert Eadie“
Robert Eadie, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
Telephone: 1-604-602-4935 ♦ Facsimile: 1-604-602-4936
Email: [email protected]
Website: www.imining.com
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.
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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