Mr. Rufus Round reports

GLOBALBLOCK REPORTS Q3 RESULTS - SEES SIGNIFICANT REVENUE INCREASE IN Q3 2021 PERIOD

Globalblock Digital Asset Trading Ltd. has filed its unaudited Q3 2021 financial statements and management discussion and analysis. In Q3 2021, the company recorded three-month and nine-month revenue of $838,433. These are the first financial statements to include results from the company's wholly owned operating subsidiary, Globalblock Ltd. (Globalblock U.K.), which the company acquired in July, 2021.

Following a strategic review in 2019 and its subsequent acquisition of Globalblock U.K., the business has undergone a transformation, resulting in a significant ramp-up in operations and revenue. The third quarter incurred one-off transactional costs that relate specifically to the business combination, contributing to a loss for the period.

2021 year-to-date highlights:

• Earned three-month and nine-month revenues of $838,433 for the period from the acquisition of Globalblock U.K. (July, 2021) until Sept. 30, 2021, and a three-month and nine-month loss of $3,238,781 and $3,682,889, respectively, inclusive of a one-time charge for transaction costs of $2,288,572; the transaction costs were primarily related to the fair value of the finder shares issued pursuant to the acquisition of Globalblock U.K.;
• As at Sept. 30, 2021, the company had $6.1-million in working capital (Dec. 31, 2020: $4.3-million) and cash on hand of $5.7-million (Dec. 31, 2020: $4.4-million);
• Continued expansion of Globalblock U.K.'s team with senior hires across technology, marketing and sales to support current and future operations;
• Globalblock U.K.continues to increase its offering of digital assets where clients have the ability to trade across Globalblock U.K.'s combined service offerings of telephone, on-line trading platform and mobile app, increasing from 80 digital assets in October, 2021, to over 100 in November, 2021.

Globalblock U.K.'s operations from 2020 to 2021 have seen significant growth with revenue for calendar 2021 increasing 612 per cent over revenue for calendar 2020, driven by increased clients and high trading volumes. The revenue was achieved without any marketing during the period as word of mouth led to an increase in Globalblock U.K. account holders and trading activity.

The significant increase in revenue reflects the broader rise in adoption of cryptocurrency by individuals and corporations across multiple industries, most notably in financial services. Globalblock, through the operations of Globalblock U.K., is benefiting from the broader acceptance of digital assets as a new emerging asset class and current trading conditions remain strong.

Rufus Round, chief executive officer of the company, said: "The speed with which the Globalblock U.K. business combination has yielded meaningful revenues has exceeded our expectations and we are delighted to see the beginnings of a fast-growing digital asset trading and services provider. With a highly experienced team that has a track record of success in regulated financial services, combined with a market that is growing exponentially, we are excited about the foundation that's been built so far and what the future holds."

"Since Q3 2021, the business has seen trading continue to take a similar trajectory. There is a great deal of activity and the pipeline for sales, new products and services is full. In accordance with our commitment to regulation, security and transparency, we are looking forward to the launch of a new wholly owned mobile app scheduled for Q1 2022 and scaled-up marketing efforts."

About Globalblock Digital Asset Trading Ltd.

Globalblock Digital Asset Trading is a publicly traded holding company whose wholly owned subsidiary, Globalblock Ltd., is a United Kingdom based digital asset broker that provides a personalized telephone brokerage service, trading platform and mobile app. Established in 2018 by an experienced team of financial services professionals, Globalblock Ltd. acts as a trusted agent serving the digital asset needs of individuals, corporates, institutional financial firms and intermediaries, providing best execution trading and safe custody of digital assets.

Globalblock Ltd. has been temporarily registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as a cryptoasset business until March 31, 2022, pending the determination of the application by the Financial Conduct Authority. At this time, Globalblock Ltd. only accepts United Kingdom and Ireland resident clients or customers for its digital asset broker or trading services.

We seek Safe Harbor.