Integrated Ventures, Inc. Announces Pricing of $9.0 Million Registered Direct Offering
March 30 2021 - 12:47PM
InvestorsHub NewsWire
PHILADELPHIA, PA
-- March 30, 2021 -- InvestorsHub NewsWire -- Integrated
Ventures, Inc. (OTC:
INTV) (the “Company”) announced today that it has entered into
a securities purchase agreement with certain institutional
investors to purchase approximately $9.0 million worth of its
common stock and warrants in a registered direct
offering.
Under the terms of
the securities purchase agreement, the Company has agreed to sell
approximately 30.0 million shares of its common stock and warrants
to purchase approximately 30.0 million shares of common stock. The
warrants will be exercisable immediately upon the date of issuance
and have an exercise price of $0.30 per share. The warrants will
expire 5 years from the date of issuance. The purchase price for
one share of common stock and one corresponding warrant will be
$0.30. The gross proceeds to the Company from the registered direct
offering are estimated to be approximately $9.0 million before
deducting the placement agent’s fees and other estimated offering
expenses.
Kingswood Capital
Markets, division of Benchmark Investments, Inc., is acting as
exclusive placement agent for the
offering.
The offering is
expected to close on or about April 1, 2021, subject to the
satisfaction of customary closing
conditions.
The offering is being
made pursuant to an effective “shelf” registration statement on
Form S-3 (File No. 333-254172) filed with the Securities and
Exchange Commission (the “SEC”) on March 11, 2021, as amended, and
declared effective on March 25, 2021. The offering of the shares of
common stock and accompanying warrants, will be made only by means
of a prospectus, including a prospectus supplement, forming a part
of the effective registration statement, describing the terms of
the proposed offering, which will be filed with the
SEC.
This press release
does not constitute an offer to sell or the solicitation of an
offer to buy, nor will there be any sales of these securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
When available,
copies of the prospectus supplement relating to this registered
direct offering, together with the accompanying prospectus, can be
obtained at the SEC’s website at www.sec.gov
or from Kingswood Capital Markets, division of Benchmark
Investments Inc.,17 Battery Place, Suite 625, New York, NY 10004,
Attention: Syndicate Department, or via email at syndicate@kingswoodcm.com or telephone at (212)
404-7002. Before investing in this offering, interested parties
should read in their entirety the prospectus supplement and the
accompanying prospectus and the other documents that the Company
has filed with the SEC that are incorporated by reference in such
prospectus supplement and the accompanying prospectus, which
provide more information about the Company and such
offering.
About:
Integrated Ventures, Inc. is Technology Portfolio
Holdings Company with focus on Hosting, Development of Blockchain
Applications and Cryptocurrency Mining. For more details, please
visit the Company’s website: www.integratedventuresinc.com.
Safe Harbor
Statement:
Matters discussed in this press release may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995.When used in this
press release, the words “may,” “will,” “should,” “plan,”
“explore,” “expect,” “anticipate,” “continue,” “estimate,”
“project,” “intend,” and similar expressions identify such
forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated,
expressed or implied by the forward-looking statements contained
herein. 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.
Contact: Steve Rubakh
+1 (215) 613-1111
sr@integratedventures.io
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