Cryptobloc Technologies Announces Private Placement
VANCOUVER, British Columbia, May 18, 2018 (GLOBE NEWSWIRE) -- Cryptobloc Technologies Corp., ("Cryptobloc" or the "Company") (CSE:CRYP) (OTC:CRYBF) (Frankfurt Stock Exchange:GR9) announces a new non-brokered private placement of up to $4,500,000.
Cryptobloc will issue up to 30M units at $0.15 per unit, each unit being comprised of one common share in the capital of the Company and one share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share for a period of two years at an exercise price of $0.25 per share.
The proceeds to be raised will be used for general working capital and towards new acquisitions.
The company has also granted 750,000 incentive stock options (the "Options") to certain of its officers, directors and consultants. The Options were granted in accordance with the terms of the Company's stock option plan and are exercisable at a price of $0.19 per common share and will expire five years from the date of granting.
About Cryptobloc Technologies Corp.
Based in Vancouver, BC - Cryptobloc Technologies Corp. is focused on developing and implementing Blockchain, Distributed Ledger, Closed Loop, and Cryptocurrency services for Government and commercial partners. Cryptobloc is committed to developing innovative and disruptive solutions that constantly improve active business practices for our partners.
Cryptobloc Technologies Corp. is a public company, traded in Canada, U.S. and Germany under the symbols CSE:CRYP, OTCMKTS:CRYBF, and FRA:GR9.
On behalf of the Board of Directors
Neil Stevenson-Moore, CEO
Further information about the Company is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and on its website, www.cryptobloctech.com
Contact: Neil Stevenson-Moore
Email: [email protected]
Website: www.cryptobloctech.com
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation. The forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company's management believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward- looking information because the Company cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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