iMining Technologies Inc. — Capital/Financing Update 2020

Aug 20, 2020

==> picture [612 x 137] intentionally omitted <==

August 20, 2020

Trading Symbol: IMIN

News Release iMINING CLOSES PRIVATE PLACEMENT

Vancouver, British Columbia: iMining Blockchain and Cryptocurrency Inc. (TSX-V:IMIN) (the “Company” or “iMining”) is pleased to announce that it has closed its non-brokered private placement (the “Financing”), raising $468,600 in gross proceeds through the issuance of 9,372,000 units (the “Units”) at a price of $0.05 per Unit . (See press release of June 3, 2020.) Each Unit is comprised of one common share and one-half of one common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to purchase one common share of iMining at a price of $0.10 per share for a period of 2 years, provided that in the event the closing price of the Company’s Shares is equal to or greater than $0.30 per share for 20 consecutive trading days at any time following four months after the date of closing, the Company may, by notice to the Warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.

As disclosed in its June 3[rd] , 2020 press release, in addition to working capital, the Company intends to use the proceeds from the Financing primarily to purchase mining rigs and related equipment, and for expenses related to a hosting site and start-up of operations.

Aggregate compensation of $35,088 and 350,880 finders’ warrants (having the same general terms as the Warrants) were paid by the Company to Canaccord Genuity Corp. and PI Financial Corp. as finders’ fee for the portion of the Financing attributable to their efforts.

All securities issued in connection with the Financing are subject to a hold period of four months and one day in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws. The Company has 38,458,265 common shares issued and outstanding following the completion of the Financing.

The Company has arranged a further financing of up to $1,000,000, involving the issuance of up to 20,000,000 units (the “Units”) at a price of $0.05 per Unit, with the same terms and conditions as the private placement just completed. Funds will be applied as previously reported, with additional funds budgeted for the purchase of mining rigs and related equipment, and securing hosting sites. Finders’ fees may be payable on this financing. This private placement is subject to regulatory approvals.

ON BEHALF OF THE BOARD

iMining Blockchain and Cryptocurrency Inc.

(sgd.) “Robert Eadie” Robert Eadie, President & Chief Executive Officer

==> picture [612 x 80] intentionally omitted <==

----- Start of picture text ----- iMining Blockchain and Cryptocurrency Inc.Suite 750 – 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6Telephone: (604) 602-4935 Fax: (604) 602-4936 www.iMining.com----- End of picture text -----

FOR FURTHER INFORMATION PLEASE CONTACT: Contact: Robert Eadie Telephone: 1-604-602-4935  Facsimile: 1-604-602-4936 Email: investor@imining.com

Website: www.imining.com

Neither the TSX Venture Exchange nor its Regulation 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.

==> picture [612 x 80] intentionally omitted <==

----- Start of picture text ----- iMining Blockchain and Cryptocurrency Inc.Suite 750 – 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6Telephone: (604) 602-4935 Fax: (604) 602-4936 www.iMining.com----- End of picture text -----