Signing of Letter of Intent to Acquire 95MW Power Plants in Ontario
VANCOUVER, British Columbia, Jan. 20, 2023 (GLOBE NEWSWIRE) — iMining Technologies Inc. (TSXV:IMIN) (FSE:P1A), which invests in energy infrastructure, blockchain technology and the Web3.0 ecosystem, has signed a Letter of Intent to acquire Power Plants in Ontario. The Power Plants, with the capacity to produce 90 megawatts of low-cost electricity, have existing agreements with the Ontario Grid to supply energy to the grid during the highly profitable periods.
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The value of the acquisition is subject to third party valuation and following the due diligence period, including receipt of tax, corporate and security law advice, the parties will execute a final definitive agreement. The company will announce financing plans prior to completion of the acquisition.
This acquisition is another step in the company’s plans of developing sustainable energy and technology solutions for Data Center operations. With diverse investment and infrastructure solutions, iMining looks to be an Energy first company enabling the growth of future technologies and is committed to building a sustainable and environmentally friendly Energy company of the future.
For more information, please visit the company’s website at www.iMining.com, contact Saleem Moosa, Director, at 604-602-4935 or email [email protected].
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