iMine Corporation acquires RAC Real Estate Acquisition Corp, issues Series A Preferred with voting control

My City Builders, Inc.

iMine issued 100,000 Series A Preferred shares to acquire 100% of RAC Real Estate Acquisition Corp, which held $500,000 in cash.
The Series A Preferred shares carry 10 votes each, giving holders approximately 63% voting control of iMine.
Frank Gillen, a RAC shareholder receiving 33,334 Preferred shares, had prior NASD censure and fine in 2002 and a 2006 Utah Securities Division resolution.
RAC had no operations since incorporation in May 2022, its sole asset being $500,000 cash from stock sales to founders.
The acquisition resulted in a change of control as the three shareholders collectively control a majority of voting power.

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