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MX Gold to test new waters with cryptocurrency miner buy

MX Gold Corp. is looking to acquire a private Manitoba-based cryptocurrency/blockchain mining company as a pilot project to determine the viability of investing in the cryptocurrency industry.

The company entered a letter of intent to acquire Symple Internet Financial Ltd. for C$150,000 cash and 4.5 million shares, it said Oct. 13.

As per discussions with the TSX Venture Exchange, the transaction will not be classed as a change of business.

A definitive agreement is expected by Nov. 1, with closing expected by Dec. 1.