Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Legion Metals Moves into Cryptocurrency Sector with Acquisition of Two Cryptocurrency Mining Computers - Video Available on InvestmentPitch.com

C.OILS, C.OIL

Vancouver, British Columbia--(Newsfile Corp. - January 10, 2018) - Legion Metals (CSE: LEGN) has moved into the cryptocurrency sector with the acquisition of two cryptocurrency mining computers. The company has signed an asset purchase agreement to immediately acquire two fully operational cryptocurrency mining computers, or rigs, as they are called in the industry.

InvestmentPitch Media has produced a "video" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Legion" in the search box.



Cannot view this video? Visit:
http://www.investmentpitch.com/video/0_d2v4xcz8/Legion-Metals-CSELEGN-has-moved-into-the-cryptocurrency-sector

The sellers have also agreed to source additional components and construct ten additional rigs, all expected to be operational by February. Given the current market values of cryptocurrency, these rigs, once in operation, are expected to generate immediate positive cash flow.

Legion will pay the sellers 1 million shares, issued at a price of $0.0825 per share for a deemed value of $82,500, plus 400,000 stock options exercisable at $0.11 for 60 months.

The rigs will be housed in a facility near Vancouver operated by the sellers, for which the company will pay the sellers no more than $1,000 per month. The sellers will provide all support and maintenance for the rigs, for which the sellers will collectively receive 25% of the net crypto-mining proceeds from the rigs.

Peter Smith, President and CEO, stated: "The sellers, Austin Spencer and Aaron Smith-Hayes, are longtime friends of mine and another board member, and we are very fortunate that this relationship has provided Legion with this opportunity to invest in the crypto-currency mining space. Austin and Aaron are extremely knowledgeable and well-connected in crypto-mining, and we feel that this transaction represents an excellent opportunity for Legion shareholders while we await further exploration results from Millen Mountain."

This investment by Legion into crypto-currency mining does not constitute a change of business for the Company.

Legion still holds a 100% interest in the Millen Mountain gold property, which is under option to Probe Metals Inc. The Millen Mountain Property, located in Nova Scotia, contains four historical gold occurrences, and is comprised of 80 mineral claims covering approximately 1,280 hectares.

For more information please contact Peter Smith, President and CEO, at 778-999-7030.

About InvestmentPitch Media

Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com