VANCOUVER, British Columbia, Feb. 05, 2018 — BLOK Technologies Inc. (“BLOK Tech” or the “Company”) (CSE:BLK) (FRANKFURT:2AD) is pleased to provide an update on the Company’s activities over the past week as it unveiled its new corporate focus. The Company also wishes to announce that it has an engaged Island Capital Management, LLC, to apply to the Depository Trust Company (“DTC”) for the Company’s initial DTC eligibility to trade in the United States and to file a Form 211 submission to FINRA.
Last week, the Company attended the Cantech Investment Conference 2018, Canada’s largest technology investment conference, where BLOK Tech had a booth and where new CEO Robert Dawson gave a presentation on the direction of the Company within the blockchain technology sector. At the conference, the Company announced that it has changed its name to BLOK Technologies Inc. (“BLOK Tech”) and launched its new corporate website at www.bloktechinc.com where investors can subscribe to the company’s news and read about its approach and future plans.
Following the conference the Company commenced trading under the symbol “BLK” on the Canadian Securities Exchange (“CSE: BLK”) effective at the open on Friday February 2, 2018.
The Company previously announced it has completed the acquisition process of 10375977 Canada Inc., a blockchain technology company doing business as Greenstream (“Greenstream”) as contemplated in the agreement dated November 29, 2017 between Aida and Greenstream. Greenstream is developing a blockchain-enabled supply chain integrity platform for the legal cannabis industry.
“We are excited to have launched BLOK Technologies at Cantech 2018, Canada’s largest technology investment conference,” says BLOK Tech’s CEO Rob Dawson. “Together with our core team, we engaged retail investors, brokers and fellow technology enterprises in discussion about the potential of blockchain to our economy and the progress we are making with our company. It’s a great time to be in the blockchain sector. The interest expressed by investors was clearly apparent at the conference. BLOK Tech is focused on developing blockchain-enabled solutions for industries and enterprises; and we were very encouraged by the enthusiasm for our business model.”
About BLOK Technologies Inc.
BLOK Technologies Inc. is a public company that invests in and develops emerging companies in the blockchain technology sector. The Company’s approach is to provide capital, technology and management expertise to the companies it develops, starting in the cannabis supply chain management sector. The Company’s process is to identify early-stage technologies with potential to disrupt and innovate within their industry and provide them with the necessary capital, resources and expertise to ensure the success of their projects.
Greenstream is engaged in the development of a blockchain-enabled supply chain management platform for the legalized cannabis industry. The federal government has laid out a roadmap to have cannabis legalized nationwide by July 2018. With this in mind, Greenstream is in the process of developing a technology architecture to address the supply management needs for this new regulatory environment, providing the industry the ability to manage from ‘seed to sale’. The Greenstream architecture calls for three layers of development including: smart contract processing, POS and ID database integrations and integration with existing inventory management and enterprise management platforms. When fully deployed, there will be multiple stakeholders for the Greenstream platform, including: licensed producers, distributors, government regulators, dispensaries, and software providers.
For further information, please contact:
James Hyland, B.Comm.
Vice President Corporate Development, Director
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.