22:06:06 EDT Tue 14 Jul 2020
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Blok Technologies Inc
Symbol BLK
Shares Issued 119,384,302
Close 2020-01-27 C$ 0.01
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Blok Tech mulls VR business expansion, crypto JVs

2020-01-27 17:34 ET - News Release

Mr. James Hyland reports


Blok Technologies Inc. has provided a corporate update on the company's reorganization efforts and overall development of business operations.

The company continues to work diligently on its 2020 strategic plan. The emphasis has been redefined to focus and pursue projects with significant upside and attractive anticipated levels of return with limited risk. Management is currently reviewing several opportunities to expand with its VR Eyes Technology Corp. acquisition in combination with making further merger and acquisition opportunities.

Management recently took measures to lower expenditures through various efforts, while continuing the growth of the VR Eyes business.

VR Eyes focuses on making eye exams more convenient, and has developed diagnostic products that make detecting and diagnosing eye functions accessible for patients. VR Eyes plans on introducing its first product in the North America market first and then expanding to additional markets. The main focus is to make eye care more convenient so more people will have up-to-date annual eye check-ups. VR Eyes is beginning to seek physicians, optometrists and eye glass shops as goals for development. VR Eyes is happy with its beta model, and will be looking to advance to further stages of development and distribution.

The company has also begun the process of evaluating several underutilized cryptocurrency miners/farms and reimplementing them with economies of scale to create a profitable operation within the space.

"Bitcoin prices have recently had a sudden resurgence reaching highs of $11,800 over the last month, which leads me to believe that with proper evaluation of these cryptocurrency operations, Blok Tech could develop a business model with consolidation of these miners," stated chief financial officer and director Wilson Su.

Blok Tech will further reach out to private and publicly listed companies in the cryptocurrency space in an effort to joint venture and/or purchase equipment or unique technology that will lead to revenue. Upon targeting these companies, Blok Tech will engage a consultant to conduct due diligence, including an independent asset valuation and technical evaluation of the plan. In a space that has been recently challenging, the company feels the valuations will be in its benefit, allowing itself to be positioned as a strong competitor.

The company is excited and optimistic to move forward with 2020 strategic plan.

About Blok Technologies Inc.

Blok Technologies is a public company that invests in and develops companies in the blockchain and emerging technology sectors. The company's approach is to provide capital, technology and management expertise to the companies it develops. Blok Tech's current portfolio includes Greenstream and VR Eyes Technology.

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