Block X Capital Corp. Announces Investment in Abaxx Technologies Inc. and Buildingsblock Technologies Corp.

VANCOUVER, British Columbia, April 17, 2018 (GLOBE NEWSWIRE) -- Block X Capital Corp. ("Block X" or the "Company") (CSE:BXXX) is pleased to announce a $250,000 CAD investment in Abaxx Technologies Inc. ("Abaxx") and a $157,500 CAD investment in Buldingsblock Technologies Corp. ("Buildings Block").

Abaxx develops technology, files intellectual property patent inventions and generates royalties through strategic partnerships and transactions with early adopters in the enterprise-blockchain financial sector.  Abaxx is currently raising funds to invest in two cornerstone, blockchain-based, financial exchanges; obtaining 20% equity ownership in the following:

1. A blockchain-based exchange for listing, trading and clearing physical commodity contracts; and
2. A blockchain-based exchange for listing, trading and clearing Intellectual Property assets.

Concurrent with the transaction, Abaxx will acquire contracted revenue royalty rights in both companies.  Abaxx is continuing to evaluate the acquisition of additional assets ahead of their planned RTO.

Block X is dedicated to investing in blockchain and emerging technologies. Backed by a team of venture capitalists, founders, and executives with deep expertise in blockchain and emerging technology, Block X leverages its team and network to gain access to promising investment opportunities.

"We are excited to announce our anticipated investment in Abaxx", says Darius Eghdami, CEO of Block X. "Josh Crumb and Abaxx have put together an exceptional team with two cornerstone investments that have unique and promising applications of blockchain technology. We look forward to continuing to work with the Abaxx team."

Further, Block X has invested $157,500 in Buildings Block. Buildings Block is developing a secure data management and analysis platform for the strata/condominium industry, aimed at increasing consumer protection for homebuyers during real-estate transactions by providing users with instant intelligence relating to the financial health and physical condition of a multi-family building.

"We are excited to have Block X as an early strategic shareholder, allowing us to lean on their blockchain expertise as we apply this technology to our product development", commented Jamie Hankinson, CEO of Buildings Block. 

"The exclusivity of being the only public company in the role of strategic investor in Buildings Block further confirms the model by which Block X operates", said Rahim Rajwani, CFO of Block X. "Our pipeline of new investments continues to grow as a direct result of our advisory strength and relationships."

For more information about Block X, visit block-x.co.

About Block X

Block X (CSE:BXXX) seeks investment opportunities in early to mid-stage blockchain and emerging technology companies. Built off its decades of cultivating trust and proving integrity within its professional networks, Block X is able to provide investors with unparalleled access to these investments that are not normally accessible to the average retail investor. Block X is backed by a world class team with deep domain experience and an extensive network of globally recognized leaders. Block X is dedicated to disciplined due diligence, governance, and an investment process that results in highly qualified investment opportunities.

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including the successful completion of the Company's investment in Abaxx and the anticipated particulars of Abaxx's transaction including, but not limited to, their anticipated ownership in Cleer and Operem are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the successful completion of the Company's investment in Abaxx and the anticipated particulars of Abaxx's transaction including, but not limited to, their anticipated ownership in Cleer and Operem.  These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statement or forward-looking information.  Important factors that may cause actual results to vary, include, without limitation, the Company's investment in Abaxx being delayed or not successfully completing and the anticipated particulars of Abaxx's transaction including, but not limited to, their anticipated ownership in Cleem and Operem changing.  Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

On Behalf of the Company,
Darius Eghdami, CEO
Tel: 604-628-5616
For Media Contact:
Natalie Davidson
[email protected]
778 955 8012