Integrated Ventures Pursues Revenue Growth By Raising $160,000 To Fund The Purchase Of Additional Bitcoin Mining Equipment
October 27 2017 - 9:01AM
InvestorsHub NewsWire
Philadelphia, PA -- October 27, 2017 -- InvestorsHub NewsWire
-- Integrated Ventures, Inc., (OTCQB:
INTV) ("Company") announced today that it has completed a
capital raise in the amount of $160,000 ($0.10 cents per share)
through a Private Placement Subscription (“PPS”) of the Company's
Restricted Preferred Stock with a group of private investors.
The Company will issue 16,000 shares of Restricted Series B
Preferred Shares, which are eligible to be converted into 1,600,000
Common Shares, at rate of 1 for 100.
The Company intends to utilize the proceeds, primarily for the
expansion of the Company's Bitcoin Mining Operations, specifically
for a purchase of 50+ units of A4+ LTC Master and Nemesis G8
models, a warehouse management system needed to support anticipated
mining equipment sales growth as well as to fund the development of
blockchain applications.
"We believe that Integrated Ventures is at a key point as growth
trends and positive operational metrics confirm that the crypto
currency business is on fast track. This non-dillutive funding
round confirms a strong interest in our Company from investors. The
purchase of mining equipment is expected to provide a 35% boost in
annual revenues and assets. The Company is clearly demonstrating
its ability to secure a non-dilutive funding to grow its business
operations while protecting a long-term shareholder value", states
Steve Rubakh, CEO of Integrated Ventures, Inc.
Concurrent with successful completion of this PPS, the Company
had completed two Convertible Debt Conversions, which reduced the
Company's Convertible Debt Balance by $10,000 and simultaneously
entered into 60 day Lock-Up Agreement with two Note Holders.
As of 10/27/2017, the Company's Convertible Debt Balance was at
$36,000 and the current share structure is as follows:
A/S: 40,000,000
O/S: 8,288,337
T/F: 6,959,467
About Integrated Ventures, Inc: The
Company is focused on acquiring, launching and operating
companies, primarily in the mobile technologies, ride share
transportation and crypto currency sector consisting of digital
asset mining, hosting, pooling, mining equipment
manufacturing and the development of blockchain based
applications for financial markets.
More details about Integrated Ventures is available at
www.integratedventuresinc.com
More details about BitcoLab is available at www.bitcolab.io
More details about BlockLab is available at www.blocklab.io (under
construction)
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.
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