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Blox Labs completes 1:2 rollback, name change

2017-11-24 17:12 ET - News Release

Mr. Harald Seemann reports


Blox Labs Inc. has completed its one-for-two share consolidation and its name change from Big Rock Labs Inc. to Blox Labs Inc.

The common share consolidation record date was Nov. 22, 2017, and the common share consolidation became effective that day. In connection with the share consolidation, in accordance with Canadian Securities Exchange Policy 9 Section 3.1, the company changed its name to Blox Labs Inc. To align with this new name, the company also completed a CSE trading symbol change to BLOX.

Blox has closed its non-brokered private placement financing announced on Nov. 8, 2017. The company raised gross proceeds of $700,000 through the issuance of 14 million postconsolidated units at a price of five cents per unit. Each unit consists of one postconsolidated common share and one-half of one postconsolidated common share purchase warrant. Each whole warrant is convertible into one common share at a price of 10 cents per share and is exercisable for a period of 24 months.

Proceeds of the offering will be used for continuing software development, including the assessment and development of blockchain applications and identifying business acquisitions and partnerships in the technology sector, as well as for general working capital, marketing and corporate purposes. The securities issued by the company in connection with the offering are subject to a four-month-plus-one-day resale restriction following the date of distribution under applicable Canadian provincial securities laws.

About Blox Labs Inc.

Blox Labs is a boutique technology development company that is focused on creating best-in-class smart phone apps and software solutions that are driven by emerging trends in blockchain, smart contracts and decentralized application technologies. Blox is actively targeting strategic acquisitions of high-growth companies in the technology sector and is open to partnerships.

We seek Safe Harbor.

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