Blockchain

Blox Labs Closes Private Placement

Blockchain Investing
Blockchain Investing

Blox Labs Inc. (“BLOX” or “the Company”) (CSE:BLOX) (Frankfurt: BR1B) wishes to announce that it has closed its non-brokered private placement financing (the “Offering”) announced on June 1, 2018.

Blox Labs Inc. (“BLOX” or “the Company”) (CSE:BLOX) (Frankfurt: BR1B) wishes to announce that it has closed its non-brokered private placement financing (the “Offering”) announced on June 1, 2018. The Company raised gross proceeds of $1,111,650 through the issuance of 14,821,998 common shares at a price of $0.075 per share. In addition, the Company paid a total of $503 in finder’s fees. The net proceeds of the Offering will be used for ongoing software development including the assessment and development of blockchain applications, identifying business acquisitions and partnerships in the technology sector as well as for general working capital purposes.

The securities issued by the Company in connection with the Offering are subject to a four months plus one day resale restriction following the date of distribution under applicable Canadian provincial securities laws.

About Blox Labs

Blox Labs Inc. is a technology development company focused on creating best-in-class software solutions driven by emerging trends in Blockchain, Smart Contracts and Decentralized Applications. BLOX is helping customers with solutions for business problems from proofs of concept through execution. The Company is currently piloting blockchain solutions for supply chain management and improvement as well as other areas. BLOX is actively targeting partnerships and strategic acquisitions of growth companies.

ON BEHALF OF THE BOARD

Jeff Zanini

CEO and Director

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

This news release includes forward-looking information within the meaning of Canadian securities legislation concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including future plans for development of technologies by the Company. Although the Company 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 can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. 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.

Source: www.thenewswire.com

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