Vancouver, British Columbia–(Newsfile Corp. – May 4, 2022) – iMining Technologies Inc. (TSXV: IMIN) (the “Company” or “IMIN”) is pleased to announce that its subsidiary, Metaverse Advisory Group Inc. (“MAG”), has sold two parcels of digital land in Decentraland metaverse, represented by non-fungible tokens (the “Estate”) to Sniper Resources Ltd. (“Sniper”), a British Columbia Company that is a reporting issuer in the Provinces of British Columbia, Alberta and Ontario. The acquisition of the Estate marks Sniper’s first foray into this rapidly growing technological innovation. As consideration for the Estate, Sniper agreed to issue to MAG 26,250,000 common shares of Sniper (“Sniper Shares”), at a deemed price of $0.02 per Sniper Share, for aggregate consideration of $525,000.
MAG is a wholly owned subsidiary of iMining and was established earlier this year to assist corporations and major brands enter the metaverse. MAG had acquired these properties in the secondary market and subsequently had developed the infrastructure for both parcels of lands in the Manhattan District. “As we look towards the future, businesses and brands will look at new ways to engage with their stakeholders. Every business, influencer, philanthropic organization, sports club, education and healthcare organizations will need a metaverse presence,” said Khurram Shroff. “Sniper’s foray into the metaverse is welcomed by our team and we look to have multiple collaborations moving forward between the two organizations. Their entrance into the metaverse marks a new chapter in history for a former resource-based company and this sale adds significant value for MAG as it develops, operates and sells virtual property in the Decentraland metaverse,” added Khurram Shroff, Chairman and the CEO of iMining Technologies.
About Sniper Resource Ltd.
Sniper Resources Ltd. is a mineral exploration company with minimal current activities or operations and is not currently listed on a stock exchange.
About Metaverse Advisory Group Inc.
Metaverse Advisory Group is a virtual NFT based real estate company that develops and manages a portfolio of Virtual properties in major blockchain-based Metaverses including Decentraland and The Sandbox. It operates unique services including virtual property development, property management, and assisting companies with future of work, virtual events and meetings, marketing and advertising in the Metaverse.
About iMining Technologies Inc.
iMining is a publicly listed Web3.0 technology company developing technology for Crypto Mining, Decentralized Finance (“DeFi”) and Non-Fungible Tokens (“NFT”). iMining also owns BitBit Financial Inc., an ATM Network and crypto OTC Trading Platform for individual and institutions.
iMining investments are directly linked to the Bitcoin Mining, Crypto Trading, Decentralized Finance (“DeFI”) and Metaverse Non-Fungible Tokens (“NFTs”). With diverse blockchain investment and infrastructure solutions, iMining looks to be a leader in…