BLOK Technologies Inc. (CSE:BLK, FRANKFURT:2AD) is pleased to announce it has made a Strategic Investment (“Investment”) into FogChain, Inc. (“FogChain”), developing a strategic relationship between the two companies for mutual growth and collaboration. FogChain is located in Silicon Valley, California.
Under the terms of this strategic relationship, BLOK Tech has made an initial investment of $100,000 as part of a private placement for subscription receipts of FogChain. For BLOK Tech, this Investment is the first phase of a multifaceted relationship giving the Company access to leading edge developer tools and co-development of Blockchain-enabled software. FogChain will provide BLOK Tech access to tier 1 channel partner networks in the United States for technology product distribution. Both companies over the next few months will further solidify their relationship by exploring deal flow and joint marketing initiatives leading to presentations to each company’s board to advance the relationship.
The Investment also gives BLOK Tech preferred access into emerging companies in Silicon Valley where FogChain has its headquarters and access to blockchain developers and engineers. FogChain founders have incredible experience in Silicon Valley with some tech giants including Amazon, Cisco, CA, New Relic, and Sauce Labs.
“We are very pleased with the potential of this developing relationship with FogChain”, said BLOK Tech CEO Robert Dawson. “Having a US based strategic partner with a foothold in the tech hub of the Silicon Valley brings tremendous opportunities for us. We carefully reviewed FogChain, its team and technology and felt it was an efficient and effective way to spearhead our business into the United States. This will clearly advance BLOK Tech’s access and partnerships in the US market with the Company’s initiatives, plus gives us access to leading-edge developer tools.”
FogChain CEO James Cerna commented “BLOK Tech has a top-notch team and brand. We are delighted that we have found a smart money collaboration partner in BLOK Tech with their investment in our company. This strategic investment should further bolster our relationship with BLOK Tech and reaffirms our commitment to developing our software product offering using “ground up” Blockchain based technologies which will empower the growth of the Blockchain sector.”
About FogChain, Inc.
FogChain is exactly as it sounds – the event horizon, where Blockchain meets the decentralized Fog, providing the most secure and efficiently distributed platform for software development on any platform. With the recent explosive demand for more edge computing and security within the Micro-Service and IoT space, FogChain’s rubber meets the road with a software tool kit leveraging the best of both worlds. The inherent security of Blockchain combined with the ubiquity and performance of the Fog is the only logical and scalable path. Led by a team of Cloud and SaaS veterans, FogChain is the next super wave for the $500 billion software development market.
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.
CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.