Mr. Stuart Olley reports

GLOBALBLOCK ANNOUNCES $715,000 CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Globalblock Digital Asset Trading Ltd. has closed the first tranche of its previously announced non-brokered private placement for gross proceeds of $715,000. In connection with the private placement, 14.3 million equity units of the company were issued at a price of five cents per unit.

Each unit is composed of one common share of the company and one common share purchase warrant of the company. Each whole warrant entitles the holder to acquire one common share of the company for a period of 12 months from the date of issuance of the warrant, at an exercise price of 10 cents per share.

The securities issued in connection with the private placement are subject to a four-month hold period, in accordance with applicable securities laws.

The company intends to use the proceeds from the private placement toward its search for businesses to acquire or combine with after it has completed its proposed disposition of its digital asset broker business (see the company's March 23, 2023, press release), and for general and administrative expenses.

The private placement contemplates the issuance of up to $1-million worth of units and the company has made a request to the TSX Venture Exchange to extend the period by which the private placement may be completed so that it may attempt to complete a second tranche closing for the remaining $285,000 worth of units.

Subject to final review by the TSX Venture Exchange, the company agreed to pay a cash finder's fee to Rupert Williams of $42,900 in respect of the aggregate sales to subscribers under private placement that were introduced by him.

About Globalblock Digital Asset Trading Ltd.

Globalblock Digital Asset Trading is a publicly traded holding company whose wholly owned operating subsidiary, Globalblock Europe UAB, is a European Union-based digital asset broker that provides a personalized telephone brokerage service, trading platform and mobile app. Following completion of the disposition transaction, the company will not have any operating business. Accordingly, the company will need to identify and, if successful, acquire or combine with a new business.

We seek Safe Harbor.