Vancouver, B.C., October 18, 2023 – CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE: BLOX), is pleased to announce that its board of directors has approved a consolidation (the“Consolidation”) of the Company’s issued and outstanding shares on the basis of ten (10) pre-consolidation common shares for every one (1) post-consolidation common share (the “Consolidation Ratio”). The Company currently has 664,055,092 common shares outstanding and will have approximately 66,405,509 common shares outstanding after completion of the Consolidation, subject to rounding and the elimination of any fractional shares resulting from the Consolidation. The number and exercise price of outstanding stock options and warrants of the Company will similarly be adjusted by the Consolidation Ratio. Further detail respecting the Consolidation, including the effective date thereof, will be provided in a subsequent news release.
The Consolidation is subject to the acceptance of the Canadian Securities Exchange (“CSE”). The Company will not be changing its name or trading symbol in conjunction with the Consolidation.
On behalf of the Company,
Chief Executive Officer
About CryptoBlox Technologies Inc.
CryptoBlox Technologies Inc. is a blockchain technology company focusing on building out clean energy powered digital asset mining infrastructure enhanced with artificial intelligence, along with a diversified portfolio of fintech blockchain products and services. The company will be focused on powering digital asset mining operations through flare gas operations throughout North America – with the first acquisition being in Redwater, Alberta. By using alternative energy sources and state-of-the-art operations techniques powered by AI, the Company will be positioned to achieve a high degree of financial optionality and long-term operational certainty, which can result in some of the cleanest and lowest-cost digital asset mining operations in the world.
For further information about the Company, please visit https://www.cryptoblox.ca or call 236-259-0279.
This news release contains certain forward-looking statements. The use of the word “expected”, “projected”, “pursuing”, “plans” and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this news release include statements regarding the Consolidation. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.