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Globalblock Digital Asset Trading Ltd
Symbol BLOK
Shares Issued 119,248,741
Close 2023-06-05 C$ 0.15
Market Cap C$ 17,887,311
Recent Sedar Documents

Globalblock Digital grants options for 2.5 M shares

2023-06-08 14:52 ET - News Release

Mr. Stuart Olley reports

GLOBALBLOCK ANNOUNCES GRANT OF STOCK OPTIONS

Globalblock Digital Asset Trading Ltd. has granted incentive stock options to acquire a total of 2.5 million common shares of the company at an exercise price of 15 cents per share, with such options to vest immediately on the date of grant. The options expire five (5) years from the date of grant. Of these options, 2,000,000 were granted to two directors of the Company and the remaining 500,000 to a consultant to the Company.

As previously announced by the Company, the Company has entered into a Business Disposition Agreement dated March 22, 2023 with GlobalBlock Ltd. ("GB UK") and the original shareholders and founders of GB UK (the "GB UK Founders") to transfer GB UK and its digital asset broker business back to the GB UK Founders (the "Disposition Transaction"). In return, the GB UK Founders will return to the Company for cancellation, the 48,450,000 common shares of the Company collectively held by them (which shares were originally issued to the GB UK Founders when the Company acquired GB UK in 2021).

The Company is working to obtain final TSX Venture Exchange approval for the Disposition Transaction, and thereafter will complete and close the Disposition Transaction.

ABOUT THE COMPANY

GlobalBlock Digital Asset Trading Limited is a publicly traded holding company (TSXV: BLOK) whose wholly-owned operating subsidiary, GlobalBlock Europe, UAB (https://www.globalblock.eu), is a European Union based digital asset broker that provides a personalised 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. There is no guarantee that the Company will be able to identify and acquire a new business on terms acceptable to the Company, or at all. The Company will also face ongoing requirements for additional capital which may not be available.

We seek Safe Harbor.

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