TORONTO, Feb. 02, 2018 (GLOBE NEWSWIRE) -- BLOK Technologies Inc. ("BLOK Tech" or the "Company") (CSE:BLK) (FRANKFURT:2AD) is pleased to announce that it has changed its name to BLOK Technologies Inc. (“BLOK Tech") and will commence trading under the symbol "BLK" on the Canadian Securities Exchange (“CSE:BLK”) effective at the open on Friday February 2, 2018.
BLOK Tech is the resulting issuer created from the previously announced and completed 100% acquisition of 10375977 Canada Inc., a blockchain technology company doing business as Greenstream ("Greenstream").
Disclosure documents are available at www.thecse.com
Effective Date: February 2, 2018
New CUSIP: 09370Q 10 5
New ISIN: CA 09370Q 10 5 4
New Symbol: BLK
Robert Dawson CEO of BLOK Tech, commented: "Our new corporate identity reflects the Company's focus on becoming a fully integrated technology company using blockchain as a cornerstone for investing and developing emerging companies in the blockchain technology sector. We are very pleased to have completed this transaction and to once again provide a Canadian trading platform for our many shareholders."
The Company's new website can be found at www.bloktechinc.com where you can subscribe to the company’s news and read about its approach and future plans.
No action is required to be taken by the Company's shareholders in connection with the name change.
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 has received conditional approval on its first acquisition. The Company’s approach is to provide capital, technology and management expertise to the companies it develops, starting in the cannabis supply chain management sector. The Company’s process is to identify early-stage technologies with potential to disrupt and innovate within their industry and provide them with the necessary capital, resources and expertise to ensure the success of their projects.
About Greenstream
Greenstream is engaged in the development of a blockchain-enabled supply chain management platform for the legalized cannabis industry. The federal government has laid out a roadmap to have cannabis legalized nationwide by July 2018. With this in mind, Greenstream is in the process of developing a technology architecture to address the supply management needs for this new regulatory environment, providing the industry the ability to manage from 'seed to sale'. The Greenstream architecture calls for three layers of development including: smart contract processing, POS and ID database integrations and integration with existing inventory management and enterprise management platforms. When fully deployed, there will be multiple stakeholders for the Greenstream platform, including: licensed producers, distributors, government regulators, dispensaries, and software providers.
Grant of Options
The Company announces that effective February 2, 2018, it granted to its directors, officers, employees and consultants options to acquire the aggregate of 700,000 common shares of the Company ("Common Shares"). All options granted have the exercise price of CAD$1.00 and the expiry date of February 2, 2019.
For further information, please contact:
James Hyland, B.Comm.
Vice President Corporate Development, Director
(604) 442-2425
jamie@bloktechinc.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Robert Dawson”
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.