iMining Technologies Inc. announced that it has entered into a Letter of Intent (LOI) to acquire Power Plants with total power generation capacity of 90MW. The value of the Acquisition is subject to third party valuation and will be finalized pursuant to the execution of a final definitive agreement, following the due diligence period. This Acquisition along with other ongoing acquisitions of Power Plants reinforces iMining's vision to become an 'Energy First' company.

The final structure of the Acquisition is subject to receipt of tax, corporate and securities law advice and to regulatory approval. The Company will announce financing plans around these projects prior to completion of the acquisition. The Power Plants have the capacity to produce 90 megawatts (MW) of low-cost electricity.

The Project has existing agreements with the Ontario Grid and supplies energy to the grid during highly profitable periods. The project will also generate power for other purposes to further drive profitability and provide a diversified revenue stream.