BlockchainK2 Announces Proposed Debt Settlement

Executive Summary

• BlockchainK2 Corp. proposes to settle $340,000 of outstanding indebtedness by issuing 4,857,142 common shares at $0.07 per share.
• Of the issued shares, 928,571 are being allocated to related parties, qualifying as a “related party transaction” under MI 61‑101.
• The settlement is subject to approval by the TSX Venture Exchange.

Key Details

• Debt Settlement Amount: $340,000 total outstanding indebtedness to be extinguished.
• Shares Issued: 4,857,142 common shares at a price of $0.07 per share (total gross consideration of approximately $340,000).
• Related Party Component: 928,571 shares issued to related parties; transaction relies on MI 61‑101 exemptions for valuation and minority shareholder approval because the fair market value does not exceed 25 % of the Company’s market capitalization.
• Regulatory Condition: Closing of the debt settlement requires TSX Venture Exchange approval.
• CEO Contact: Sergei Stetsenko, CEO – Phone: +971‑502‑806‑737; Email: [email protected].

Notable Quotes

(No direct quotes were provided in the release.)