IMINING BLOCKCHAIN AND CRYPTOCURRENCY INC. ("IMIN")
[formerly Parlane Resource Corp. ("PPP")]
BULLETIN TYPE: Resume Trading, Change of Business, Name Change, Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 18, 2018
TSX Venture Tier 2 Company
The common shares of the Company have been halted from trading since April 13, 2018, pending completion of a Change of Business ("COB").
Resume Trading
Effective at the opening, Friday, April 20, 2018, the common shares of iMining Blockchain and Cryptocurrency Inc. will commence trading on TSX Venture Exchange, and the common shares of Parlane Resource Corp. will be delisted.
Change of Business
TSX Venture Exchange has accepted for filing the Company's COB, which includes the following transactions:
The COB involves the arm's length Acquisition of 500 S9 Antminer cryptocurrency mining rigs for consideration of US$2,000,000, and the engagement of MKH International Ltd. ("MKH") to set up, host and operate the rigs for consideration of 6,000,000 shares at CAD$0.15 per share and a 10% royalty from the net profits of the cryptocurrency mining operations for 2 years.
8,793,866 common shares held by Principals and MKH are subject to Tier 1 Value Security Escrow, to be released over an 18-month period upon completion of the COB.
In addition, the Exchange has accepted for filing the following:
Name Change
Pursuant to a resolution passed by directors on January 9, 2018, the Company has changed its name as follows. There is no consolidation of capital.
Effective at the opening, Friday, April 20, 2018, the common shares of iMining Blockchain and Cryptocurrency Inc. will commence trading on TSX Venture Exchange, and the common shares of Parlane Resource Corp. will be delisted.
Property-Asset or Share Purchase Agreement
TSX Venture Exchange has accepted for filing documentation in respect of an arm's length Purchase & Sale Agreement dated January 1, 2018 between the Company and JB Trading Co. Ltd., pursuant to which the Company acquired the intellectual property rights attached to the "iMining" brand, including the certifications, names and marks, and proprietary rights worldwide for consideration of CAD$250,000 and the issuance of 2,000,000 shares at CAD$0.15 per share.
For further information, please refer to the Company's Filing Statement dated April 4, 2018, which is filed on SEDAR.
The Company is classified as a 'Technology' company.
Capitalization: Unlimited shares with no par value of which
29,036,265 shares are issued and outstanding
Escrowed: 8,793,866 common shares
Escrow Term: 18 months
Transfer Agent: TSX Trust Company
Trading Symbol: IMIN (new)
CUSIP Number: 45250F 10 8 (new)
Company Contact: Robert Eadie
President, CEO & Director
Company Address: 750 - 580 Hornby Street
Vancouver, BC V6C 3B6
Company Phone Number: (604) 602-4935
Company Email Address: investor@imining.com
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