BLOK Technologies Announces Additional Information Regarding the Exemption for its $3 Million Brokered Private Placement
BLOK Technologies Inc. (“BLOK Tech” or the “Company”)(CSE:BLK) (FRANKFURT:2AD), further to its news releases of March 13, 2018 and March 26, 2018, is expanding its brokered private placement (the “Offering”) co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. (collectively, the “Agents”) to include investors purchasing pursuant to the “investment dealer exemption”, as further described below. As previously announced, the Offering will consist of up to 10,000,000 units (the “Units”) of the Company at a price of $0.30 per Unit (the “Unit Issue Price”) to raise up to C$3,000,000 on a commercially reasonable efforts basis. Each Unit will consist of one (1) common share (a “Common Share”) of the Company and one (1) common share purchase warrant (a “Warrant”) exercisable into one (1) Common Share of the Company at an exercise price of $0.50 per Warrant for a period of 24 months from the Closing Date.
The Offering is not subject to a minimum aggregate amount of subscriptions. A portion or all of the Offering may be completed pursuant to BC Instrument 45-536 – Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer (“BCI 45-536”) and the corresponding blanket orders and rules implementing BCI 45-536 in the participating jurisdictions in respect thereof (collectively with BCI 45-536, the “Investment Dealer Exemption”). As of the date hereof, the Investment Dealer Exemption is available in each of British Columbia, Alberta, Saskatchewan, Manitoba and New Brunswick under separate local instruments. Pursuant to BCI 45-536, each subscriber relying on the Investment Dealer Exemption must obtain advice regarding the suitability of the investment from a registered investment dealer.
BLOK Tech intends to use the net proceeds from the Offering as follows:
- Investment in and development of emerging blockchain technology (67%); and
- General working capital purposes (33%).
The intended uses of proceeds and/or the company’s development capital needs may vary based upon a number of factors. Further discussion of compensation to be paid to the Agents can be found in the Company’s previous news release on March 13, 2018. Closing of the Offering is expected to occur on or about April 5, 2018 (the “Closing Date”).
BLOK Tech confirms that there is no material fact or material change about it that has not been generally disclosed.
About BLOK Technologies Inc.
BLOK Technologies Inc. is a public company that invests in and develops emerging companies in the blockchain technology sector. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. With core technology being developed for the leading cannabis supply chain integrity network, BLOK Tech continues to grow its business into adjacent industries and emerging technologies. The Company systematically identifies early-stage technologies with potential to disrupt and innovate within their industry and invests the necessary resources to ensure the success of their projects.
For further information, please contact:
James Hyland, B.Comm.
Vice President Corporate Development, Director
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
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.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact email@example.com, or