$INTV news Integrated Ventures Pursues Revenu
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Posted On: 10/27/2017 9:02:48 AM
$INTV news
Integrated Ventures Pursues Revenue Growth By Raising $160,000 To Fund The Purchase Of Additional Bitcoin Mining Equipment
PR Newswire PR NewswireOctober 27, 2017Comment
PHILADELPHIA, Oct. 27, 2017 /PRNewswire/ -- Integrated Ventures, Inc., (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)
Integrated Ventures Pursues Revenue Growth By Raising $160,000 To Fund The Purchase Of Additional Bitcoin Mining Equipment
PR Newswire PR NewswireOctober 27, 2017Comment
PHILADELPHIA, Oct. 27, 2017 /PRNewswire/ -- Integrated Ventures, Inc., (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)
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