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...
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