BLOK Digital Provides Updates on Private Placement Financings

Executive Summary

• BLOK Digital Ltd. received subscription agreements for the full $1,000,000 target of Private Placement #1 (10 M shares at $0.10 per share).
• The company also secured firm commitments for the entire $500,000 target of Private Placement #2 (3,846,154 shares at $0.13 per share).
• Net proceeds from both placements will be used to settle debts/payables, update continuous‑disclosure filings, pursue asset acquisitions or a business combination aimed at returning to the TSX Venture Exchange, and for general corporate/working‑capital purposes.

Key Details

• Private Placement #1 – Up to 10,000,000 common shares @ $0.10 per share → Gross proceeds up to $1,000,000; full subscription received.
• Use of Proceeds (Placement #1) – Pay/settle outstanding debts or payables, bring continuous‑disclosure record current (including in connection with a potential acquisition or combination), and general corporate/working‑capital purposes.
• Private Placement #2 – Up to 3,846,154 common shares @ $0.13 per share → Gross proceeds up to $500,000; full firm commitments received.
• Use of Proceeds (Placement #2) – Pursue acquisition of assets, business combination, or development/launch of a business enabling return to the TSX Venture Exchange, plus general corporate/working‑capital purposes.
• Both placements are subject to separate approval by the NEX board of the TSX Venture Exchange; closings expected shortly after approvals.
• Securities issued will be subject to a four‑month hold period under applicable securities laws.
• Company may pay a commission or finder's fee to eligible parties, subject to exchange approval and compliance with securities regulations.

Notable Quotes

• “We are pleased to have secured full subscription for both private placements, which provide the capital needed to address our debt obligations, update our disclosure record, and fund strategic initiatives that position us for a return to the TSX Venture Exchange,” – Angus Campbell, CEO.