Integrated Ventures Executes Term Sheet For 1 Million To Purchase 500 Mining Rigs And To Fund Roll-Up Business Strategy
August 06 2020 - 10:26AM
InvestorsHub NewsWire
PHILADELPHIA, PA -- August 6, 2020 --
InvestorsHub NewsWire
-- Integrated Ventures Inc (OTCQB: INTV)
(“Company”) is pleased to disclose the execution of a $1,000,000
Term Sheet with Eagle Equities, LLC and to update shareholders with
recent corporate developments:
-
The Company has agreed and executed Term Sheet
with Eagle Equities, LLC for Private Placement, in the amount of
$1,086,956, which will be used to expand cryptocurrency operations
and to support future acquired operations. Use of proceeds: (1)
purchases of 500 (*) assorted mining rigs: Antminer S17/S19,
WhatsMiner and Innosilicon A10 and (2) deployment of the capital to
support potential M&A transactions
(**).
-
The Company has decided to diversify its business
operations, by expand its focus from cryptocurrency mining
operations to aggresive pursuit and implementation of M&A
roll-up, a growth driven strategy, seeking to achieve, above
market, risk-adjusted returns, primarely by targeting: (1)
companies in the financial distress, (2) undergoing a turnaround or
(3) undervalued companies that are looking for financial
assistance, due to the current economic conditions. Integrated
Ventures intends to acquire, merge-in and consolidate
underperforming companies, mainly in the technology sector, which
wil allow, INTV to combine all financial and management resources
together, to cut down operational costs, and to increase the
Company's revenues and market cap.
-
To assist with execution of roll-up strategy, the
Company plans engage a business consulting group, with verifiable
revenue generating M&A targets. These pre-vetted targets have a
history of 2+ year operations with consistent revenues and EBITDA
margins of 10%+. The Company intends to pursue such acquisitions,
by offering a below market multiples to the revenues with 10%-15%
in cash and common stock. As of today, the Company has identified 2
such targets and if succesfull in closing these 2 deals, Integrated
Ventures's annual sales are expected to reach around $5.5
million.
Integrated Ventures intends to focus on the
following sectors:
-
Data Center – Design Construction &
Management
-
CryptoCurrency - Mining and Equipment
Sales
-
DeFi Blockchain – Investments, Applications &
Node Operations
-
E-Commerce & Information Technology
Consulting Services
Integrated Venture's CEO, Steve Rubakh,
comments:
“The Company plans to diversify and expand its
operations, by acquiring revenue generating assets that are
available at below market pricing. We intend to assemble a team,
consisting of experienced and seasoned business professionals,
ready to execute a value driven approach, thru a bottom-up research
and due diligence process that seeks to capitalize on unique market
opportunities.
Integrated Ventures plans to target established
companies, with solid balance sheets, history of consistent cash
flow but whose financial situation is distressed, due to Covid-19.
The potential return on such assets and investments is extremely
appealing right now and we plan to agressivly pursue such
targets.
We believe that this new business strategy,
offers an exciting path forward and will significally increase
Company's assets, market valuation and result in increase in
shareholder's value.”
(*) Subject to equipment availability and market
conditions.
(**) The Company plans to file Form 8K by
08/07/2020.
About Integrated Ventures
Inc: The Company operates as a Technology Holdings Company with focus on
cryptocurrency sector as well as implementation of M&A roll-up, a
growth driven strategy, seeking to achieve, above market,
risk-adjusted returns, primarely by targeting: (1) companies in the
financial distress, (2) undergoing a turnaround or (3) undervalued
companies that are looking for financial assistance, due to the
current economic conditions. For more information, please
visit the
company's website at
www.integratedventuresinc.com.
Safe Harbor
Statement:
The information posted in this release may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. You can identify
these statements by use of the words "may," "will," "should,"
"plans," "explores," "expects," "anticipates," "continue,"
"estimate," "project," "intend," and similar expressions.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
projected or anticipated. These risks and uncertainties include,
but are not limited to, general economic and business conditions,
effects of continued geopolitical unrest and regional conflicts,
competition, changes in technology and methods of marketing, and
various other factors beyond the company's
control.
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