VANCOUVER, BRITISH COLUMBIA – April 13, 2018 – Block One Capital Inc. (TSXV: BLOK, OTCQB: BKPPF, Frankfurt: ES3) (the “Company” or “Block One”), an investment company focused on high growth opportunities in the blockchain and digital currency mining sector, is pleased to announce a non-brokered placement of 2,000,000 units (the “Units”) at a price of $1.00 per Unit for gross proceeds of $2,000,000 (the “Offering”). Each Unit will consist of one (1) common share in the capital of the Company (a “Share”) and one-half (1/2) of one common share purchase warrant (each whole warrant, a “Warrant”). Each full Warrant shall be exercisable to acquire one additional Share at a price of $1.50 for a period of two (2) years from the date of closing. In the event that the Shares trade at a closing price of greater than $2.50 per Share for ten (10) consecutive trading days, the Company may accelerate the expiry date of the Warrants to expire on the 30th day after the date on which such notice is given by Block One.
The Company intends to use the net proceeds of the offering to fund its ongoing investment strategy in the cryptocurrency and blockchain space. The Offering is expected to close immediately upon TSX Venture Exchange approval. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
For more information on Block One, please visit the Company’s website at: www.blockonecap.com.
Chief Executive Officer