iMining Technologies signs MOU with Invest Alberta to change the face of the energy sector and to bring the Global Blockchain Opportunity to Alberta
Vancouver, British Columbia–(Newsfile Corp. – September 8, 2022) – iMining Technologies Inc. (TSXV: IMIN) (the “Company” or “iMining”) announces that momentum in Alberta’s technology investment sector continues to build as Canadian-based iMining and Invest Alberta, has signed a Memorandum of Understanding (MOU) to support the expansion of iMining and its subsidiaries, BitBit Financial and Metaverse Advisory Group, in the province of Alberta today announces plans to relocate its headquarters to Calgary.
Under the terms of the MOU, Invest Alberta will work with iMining and its subsidiaries to navigate the regulatory ecosystem, optimize federal and provincial programs that support transformative energy innovation, technology and fintech in the province. Alberta is one of the provinces currently working on favorable blockchain and crypto regulations. In return, iMining has announced plans to move its headquarters to Calgary and make Alberta its global headquarters. Committed to bringing investment into the province, iMining plans to create forty high-quality jobs over the next thirty-six months and anticipates an additional investment of $50 million in growth and expansion projects.
The company is a Web 3.0 pioneer in decentralized finance and has 4 strategic business operations that include digital asset mining and digital asset trading in addition to providing Web3.0 solutions to its clients. iMining recently funded a white paper produced by the Canadian Blockchain Consortium, which highlights how Blockchain technology can improve Alberta’s economy. This white paper was launched at the Alberta Technology Symposium. In addition, iMining recently sponsored AI Week presented by the Alberta Machine Intelligence Institute in Edmonton.
The vast natural gas resources of Alberta and the cool weather make Alberta an ideal location for digital currency mining. Bitcoin mining centers and data centers have the potential to meet the computing power needs of Bitcoin miners and many artificial intelligence and machine learning activities, including those in Alberta’s oil and gas, fintech, creative, technology and renewable energy sectors. iMining has designed a bitcoin mining ecosystem that will create commercially viable solutions for the stranded gas wells across Alberta.
iMining looks to further develop the blockchain technology and Web3 ecosystem, coupled with how Alberta can benefit from future technologies in the oil and gas and energy sectors.
“Alberta’s technology sector continues to grow and it is encouraging to have iMining Technologies identify our province as the best place for their operations. This MOU sets the stage for further growth and development of blockchain technologies across multiple industries and I look forward to see the development and marketing of several made-of-Alberta solutions.” Tanya Fir, Minister for Jobs, Economy and Innovation
“With an abundant supply of natural gas, our low corporate tax rate, reduced red tape and a highly skilled workforce, Alberta presents a tremendous opportunity for iMining. We are committed to diversifying our energy sector and digital currency mining provides a new opportunity to do just that and create jobs for hundreds of Albertans while ensuring that our resources are used to their full potential.” Dale Nally, Assistant Minister for Natural Gas and Electricity
“Alberta is embracing digital transformation and changing the way finance works. There is tremendous potential for blockchain technology to add value to our thriving technology ecosystem, along with a world-leading oil and gas sector in Alberta and supported by a skilled workforce. We look forward to welcome iMining to Alberta as more companies look to the province as a destination for global investment.” Rick Christiaanse, CEO, Invest Alberta
“Blockchain technology provides a clear path for Alberta’s oil and gas industry to exploit stranded gas and develop regulatory and technological capabilities. Alberta can truly be a leader in the economy of the future, and we are excited to partner with Invest Alberta to bring this about to.” Khurram Shroff, CEO, iMining Technologies
About iMining
iMining Technologies is helping shape the Canadian blockchain and cryptocurrency ecosystem. We are a mover and a major contributor to bringing the proof of stake technology to market.
By incorporating a proprietary, best-in-class staking, investment and mining process, iMining ensures robust security, reliability and scalability; while removing the technical complexity of deploying, managing validators, holding or investing in cryptocurrencies.
Learn more at www.imining.com
About Invest Alberta
Invest Alberta is dedicated to investment attraction, with a mandate to engage the world and provide advanced tailored support to companies, investors and major new projects. With team members in key markets around the world, Invest Alberta works to break down barriers so investors and businesses can start up, scale up and succeed without borders.
Learn more at www.investalberta.ca
ON BEHALF OF THE BOARD
Signed “Khurram Shroff“
Khurram Shroff, President and CEO
FOR MORE INFORMATION, please contact:
iMining corporate offices:
Saleem Moosa, Director
Email: [email protected]
Phone: +1 (844) IMININC (464-6462)
Neither the TSX Venture Exchange nor its regulatory services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This press release contains certain forward-looking statements, which relate to future events or future performance, and reflect management’s current expectations and assumptions, and are based on assumptions made by and information available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that could cause future results to differ materially from those expected, including, but not limited to, market conditions, availability of financing, actual results of activities , future cryptocurrency prices, operational risk and other risks in the cryptocurrency industry. All forward-looking statements in this press release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof, and the Company undertakes no obligation to update or revise them to reflect new events or circumstances except as required by applicable law.
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