VANCOUVER, British Columbia, June 26, 2019 (GLOBE NEWSWIRE) -- BLOK Technologies Inc. ("BLOK Tech" or the "Company") (CSE: BLK) (FRANKFURT: 2AD) is pleased to announce that it intends to raise up to $500,000 by way of a non-brokered private placement (the “Private Placement”) of up to a maximum of 25,000,000 common shares (“Common Shares”) at a price of $0.02 per unit.
All securities issued in the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing. Completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE”). The Company may, in its sole discretion, pay a finder’s fee within CSE policy guidelines in connection with the Private Placement.
The Private Placement was approved by all the directors of the Company. BLOK intends to use the proceeds for general working capital purposes.
About BLOK Technologies Inc.
BLOK Technologies Inc. is a public company that invests in and develops companies in the blockchain and emerging technology sectors. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. BLOK Tech’s current portfolio includes Greenstream, a technology platform designed to effectively manage value transfer, supply chain integrity and identity verification in complex and highly regulated industries. BLOK Tech continues to look for and into adjacent industries and emerging technologies.
For additional information regarding BLOK Technologies and other corporate information, please visit the Company's website at BLOKTECHINC.COM
ON BEHALF OF THE BOARD OF DIRECTORS
Interim President & CEO
For further information, please contact:
James Hyland, B.Comm.
Interim President & CEO, Director
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.