Public Companies

BLOK Technologies Closes Second Tranche Of Private Placement For $4.8M – $BLK

BLOK Technologies Inc. is pleased to announce that it has closed the second and final tranche of a Non-Brokered Private Placement raising gross proceeds of $4,857,500 from the issuance and sale of 24,287,500 Units at a price of $0.20 per Unit. No new insiders were created, nor has any change of control occurred, as a result of this Private Placement.

The Private Placement was over-subscribed and raised a total of $5,403,384 of the proposed $5,000,000 previously announced on June 1, 2018.  Each Unit at a purchase price of $0.20 per Unit, consists of one common share of the Company and one transferable share purchase warrant.  These Common Shares and Warrants issued under the second tranche of the Private Placement will be subject to a four month and one day resale restriction expiring October 9, 2018. 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 (“CSE”). 

Rob Dawson, President and CEO commented, “BLOK Technologies’ vision is to develop leading-edge, global solutions that employ blockchain technology. In completing this $5.4M financing, we are taking our company to the next level in the execution of its business model. We are very pleased that key investors have joined us on this journey and we look forward to advancing our worldwide investment projects with top-level strategic partners.”

The Company intends to use the net proceeds of the Private Placement for the advancement of the Company’s blockchain investment projects that are currently in the pipeline, evaluating new blockchain opportunities as part of its business model and for working capital purposes.

To Top