VANCOUVER, Canada – BLOK Technologies Inc. (“BLOK Tech” or the “Company”) (CSE: BLK) (FRANKFURT: 2AD) is pleased to announce that it has closed the first tranche of a Non-Brokered Private Placement (the “Private Placement”) raising gross proceeds of $545,884 from the issuance and sale of 2,729,424 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. Each Unit at a purchase price of $0.20 per Unit, consists of one (1) common share (“Common Share”) of the Company and one (1) transferable share purchase warrant (“Warrant”).
Rob Dawson, President, and CEO commented, “We are pleased to be completing this first tranche of our financing and to expand our shareholder base to include additional investors who are enthusiastic about the potential for blockchain technology. This financing is a significant milestone for BLOK Tech as we continue to build shareholder value and advance projects worldwide.”