GlobalBlock Digital Asset Trading Ltd (TSX-V:BLOK, OTC:BLVDF) said it has closed its previously announced, non-brokered private placement, raising gross proceeds of C$300,000 by issuing 6 million company units at a price of C$0.05 per unit.
The provider of personalized telephone brokerage service, trading platform and mobile app for cryptocurrencies noted that it intends to use the proceeds from the offering towards its search for businesses to acquire or combine with after it has completed the proposed disposition of its digital asset broker business, as well as for general and administrative expenses.
Each unit of the private placement comprises one company common share plus one common share purchase warrant, with each whole warrant entitling the holder to acquire one GlobalBlock common share for a period of 12 months from the date of issuance at an exercise price of C$0.10 per share.
The company added that it has agreed to pay a cash finder's fee to Rupert Williams of C$17,025.
The securities issued in connection with the private placement are subject to a four-month hold period, in accordance with applicable securities laws.
Established in 2018 by an experienced team of financial services professionals, GlobalBlock Digital Asset Trading Limited acts as a trusted agent serving the digital asset needs of individuals, corporates, institutional financial firms and intermediaries, providing the best execution trading and safe custody of digital assets.
Contact Sean at sean@proactiveinvestors.com