Mr. Akshay Sood reports

CRYPTOBLOX CLOSES DEBT CONVERSION AT $0.55 PER SHARE

Cryptoblox Technologies Inc. has closed on the debt conversion agreement that was announced earlier this month with certain of its creditors to issue an aggregate of 109,090 common shares to such creditors in exchange for outstanding accounts payable in the aggregate amount of $60,000 owing to certain creditors. The settlement shares are being issued at a price of 55 cents, in accordance with the policies of the Canadian Securities Exchange.

The company has closed the shares for debt transaction to improve its financial position by reducing its existing liabilities. All settlement shares will be subject to a four-month-and-one-day hold period. The shares for debt transaction remain subject to CSE acceptance. No new control person of the company will be created pursuant to the shares for debt transaction.

"The closing of this debt conversion allows the company to demonstrate forward-thinking positioning through the optimization of our balance sheet," stated Akshay Sood, chief executive officer of Cryptoblox.

"The conversion price of 55 cents allows our debtors to align with company's stakeholders and its long-term vision, which sees Cryptoblox being at the forefront of the industry through the execution of our diversified blockchain ecosystem strategy," added Mr. Sood.

The shares for debt transaction constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as it is anticipated that Mr. Sood will be issued settlement shares in connection with the debt settlement. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the shares for debt transaction with the foregoing insiders does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the debt settlement, which the company deems reasonable in the circumstances as the company wishes to improve its financial position by reducing its existing liabilities.

About Cryptoblox Technologies Inc.

Cryptoblox Technologies is a blockchain technology infrastructure company focusing on building out its diversified blockchain ecosystem strategy that consists of infrastructure and sustainable digital asset mining, sustainable mining products and technology, and structured digital asset products and blockchain payments. The company's infrastructure will be based on the value chain that stems from off-grid-energy/alternative-energy-powered digital asset mining, along with a diversified portfolio of sustainable mining and blockchain fintech (financial technology) products and services enabled by both the sustainable mining products and technology and structured digital asset products and blockchain payments divisions. The company will be focused on providing alternative energy solutions to power digital asset mining operations throughout North America -- with the first site being in Redwater, Alta. By using alternative energy sources and state-of-the-art operations techniques, 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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