Mr. Akshay Sood reports

CRYPTOBLOX SIGNS LOI TO ACQUIRE RIGHTS TO DIGITAL ASSET LICENSE

Cryptoblox Technologies Inc. has signed a non-binding letter of intent (LOI) with Blockchain Fintech Unipessoal LDA for a strategic partnership where Cryptoblox will acquire the rights to a digital asset licence based in the European Union.

About Blockchain Fintech Solutions

Blockchain Fintech is a company specializing in developing blockchain-based technologies that help bridge the blockchain adoption gap. With a mission to streamline the transition onto the blockchain economy, Blockchain Fintech pioneers user-friendly payment solutions that redefine the way individuals and businesses currently transact -- both locally and internationally. Through its innovative blockchain-based payment solutions, Blockchain Fintech is not only revolutionizing traditional payment systems but also catalyzing a broader shift toward both digital and decentralized financial ecosystems. It is doing this through its unparalleled commitment to accessibility and ease of use. This commitment extends beyond mere functionality, as it prioritizes user experience to ensure that individuals of all backgrounds can navigate Blockchain Fintech products confidently and efficiently, while not being expected to understand the complexities of the underlying blockchain technology.

"This partnership comes as part of a broader blockchain ecosystem strategy," explained Akshay Sood, chief executive officer of Cryptoblox. "At Cryptoblox, we are extremely thrilled to begin work on introducing our own structured digital asset products that will be enabled by the licence," added Mr. Sood.

Cryptoblox's licence strategy

Following completion of the transaction with Blockchain Fintech, Cryptoblox's exclusive rights to the licence would allow the company to expand its business lines to include structured digital asset products. Cryptoblox will be laser-focused on upholding the vision set out by Blockchain Fintech by prioritizing user experience while providing market-tested functionality to all accompanying products that will be rolled out. Amongst the planned structured product suite, Cryptoblox is exploring a plethora of financial digital solutions designed to help onboard both the banked and unbanked onto the blockchain economy in an efficient and user-friendly manner.

Cryptoblox blockchain ecosystem

The rights acquisition of this licence, if completed, would add to Cryptoblox's larger ecosystem strategy which paints a three-prong approach:

1. The first prong attests to the company's alternative-/renewable-energy-powered mining infrastructure which is enabled by the acquisition of alternative energy assets that allow Cryptoblox to sustainably and profitably mine digital assets like bitcoin irrespective of market conditions. This can be seen within the recent acquisition of Redwater Acquisition Corp., a modular air-cooled data centre facility, powered by flared gas in Sturgeon county, Alberta, where the company's energy costs are as low as 1.5 cents/kilowatt-hour, and with the signing of a non-binding letter of intent with Crypto Green Tech Inc. for a strategic partnership whereby Cryptoblox is poised to acquire the rights to Crypto Green's patent-pending modular, renewable-energy-powered crypto mining infrastructure. Over all, this infrastructure layer is the foundation upon which the company will further develop its ecosystem.
2. Atop the infrastructure layer, Cryptoblox will be developing a digital asset financial layer with a goal to increase adoption within the blockchain economy. This digital asset financial layer will be first enabled by the acquisition of the rights to the licence, with a subsequent goal of seeking strategic partnerships with payment rails providers, financial institutions and digital asset liquidity providers. As Cryptoblox continues expanding its mining infrastructure and subsequent capacity, the company intends to develop a robust structured digital asset financial product suite which allows for liquidity to self-perpetuate within the Cryptoblox ecosystem, while also providing a gateway to launch additional retail-focused mining products in the future.
3. Furthermore, integrated within the digital asset financial layer sits the blockchain-based payments layer, targeted to improve the network scalability issues within major blockchain networks. The company aims to integrate its blockchain-based payments layer within its larger ecosystem to create a circular value structure that enables scalability and increases transaction speed while lowering transaction costs within both Cryptoblox's structured digital asset products/services and its mining infrastructure/operations.

"Cryptoblox's ecosystem strategy sees a vision for circular and continued value capture across all lines of business. Our rights acquisition to the licence would mark a significant step towards that vision, especially through the introduction of our structured digital asset product s in the future," commented Mr. Sood.

The closing of the transaction with Blockchain Fintech is subject to, among other matters, applicable regulatory approvals, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, satisfaction of the conditions negotiated therein, and approval of the transaction by the board of directors of both Cryptoblox and Blockchain Fintech.

About Cryptoblox Technologies Inc.

Cryptoblox Technologies is a blockchain technology company focusing on building out clean-energy-powered digital asset mining infrastructure enhanced with artificial intelligence, along with a diversified portfolio of fintech blockchain products and services. The company will be focused on powering digital asset mining operations through flare gas operations throughout North America -- with the first acquisition being in Redwater, Alta. By using alternative energy sources and state-of-the-art operations techniques powered by artificial intelligence, the company will be positioned to achieve a high degree of financial optionality and long-term operational certainty, which can result in some of the cleanest and lowest-cost digital asset mining operations in the world.

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