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Cryptoblox Technologies Inc (2)
Symbol	BLOX
Shares Issued	66,405,509
Close 2023-12-12	C$ 0.025
Market Cap	C$ 1,660,138
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Cryptoblox closes licensing deal with Crypto Green

2023-12-13 08:31 ET - News Release

Subject: CryptoBlox Closes 4-Year License of Modular Renewable Energy Powered Mining Infrastructure Patent Rights Word Document File: '\\swfile\EmailIn\20231213 020033 Attachment BLOX - NR - CryptoBlox Closes 4 Year License.docx' CryptoBlox Closes 4-Year License of Modular Renewable Energy Powered Mining Infrastructure Patent Rights Vancouver, B.C., December 13, 2023 - CryptoBlox Technologies Inc. (the "Company" or "CryptoBlox") (CSE: BLOX) is pleased to announce further to its news release dated November 20, 2023 (the "Prior Release") that it has completed the transactions set out under its patent license agreement (the "Agreement") with Crypto Green Tech Inc. ("Crypto Green")by acquiring a four-year royalty-free, assignable, worldwide license (the "License") to develop and distribute products based on Crypto Green's crypto-mining hybrid solar and wind tree with water reservoir system (the "Renewable Energy Powered Crypto Mining Technology" or the "Technology"). As mentioned in the Prior Release, Crypto Green holds the rights to a patent application submitted with the International Bureau of WIPO (the "Patent Rights") respecting the Renewable Energy Powered Crypto Mining Technology. The License marks a significant step towards further expanding CryptoBlox's off-grid, alternative energy powered digital asset mining infrastructure. Both CryptoBlox and Crypto Green share a common dedication to environmental responsibility and technological innovation, paving the way for a greener future that is powered by sustainable, off-grid energy and further monetized by the blockchain economy through the profitable mining of cryptocurrencies. Having harnessed the groundbreaking technology developed by Crypto Green, CryptoBlox is now poised to diversify and scale its off-grid energy asset infrastructure. "This strategic collaboration not only positions CryptoBlox as a key player in sustainable crypto-mining infrastructure solutions but also opens doors for potential entry into the retail market as the Company intends to further optimize the Technology's profitability through the implementation of alternative crypto mining algorithms", says CryptoBlox CEO, Akshay Sood. The recent uptick in the crypto market, catalyzed by the expected Bitcoin ETF approval and the subsequent quadrennial Bitcoin Halving event, has primed the landscape surrounding the next phase of digital asset adoption. Following the approval of a Bitcoin ETF, the Company expects a new wave of liquidity will enter the market, which will in turn vastly increase market volatility. At that point, CryptoBlox aims to be in control of significant inexpensive energy infrastructure such that any digital asset mining operations powered by the Company will have a higher likelihood of remaining profitable. The closing of the Agreement marks a significant milestone for CryptoBlox as it continues investing in energy-efficient solutions and environmentally friendly mining infrastructure, aligning with its vision of promoting a future where blockchain ecosystems are greener and more sustainable. Terms of the License In consideration for the License, CryptoBlox issued an aggregate of 40,000,000 common shares in the capital of the Company (the "Common Shares") at a deemed price of $0.05 per Common Share to the shareholders of Crypto Green, for a deemed transaction value of $2,000,000. A finder's fee of 2,800,000 Common Shares, representing 7% of the number of Common Shares issued pursuant to the Agreement was paid to the party that introduced Crypto Green to the Company. All Common Shares issued pursuant to the License and the finder's fee are subject to a hold period of four (4) months and one (1) day under applicable securities laws. On behalf of the Company, Akshay Sood Chief Executive Officer About CryptoBlox Technologies Inc. CryptoBlox Technologies Inc. is a blockchain technology company focusing on building out alternate 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, Alberta. By using alternative energy sources and state-of-the-art operations techniques powered by AI, 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. For further information about the Company, please visit https://www.cryptoblox.ca or call 236-259-0279. Forward-Looking Statements The information in this news release includes certain information and statements about management's view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward- looking statements in this news release include, but are not limited to, statements respecting: the Company's development and distribution of Renewable Energy Powered Crypto Mining Technology; the expected benefits to the Company resulting from the License; the ability of the Company to bring the Renewable Energy Powered Crypto Mining Technology to market; the Company's plans to expand its alternate energy powered off-grid digital asset mining operations; the uses and benefits of Crypto Green's technology; future digital asset adoption; and the speculated launch of the Bitcoin Spot ETFs, the Bitcoin halving event and the expected effects of the same on digital asset prices and market volatility. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise. The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.