GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (OTC: BLKCF) (TSX-V: BLOC) is pleased to announce that further to its news release dated November 7, 2017, the Company has closed its offering issuing a total of 16,849,170 units (the "Units") on a bought deal private placement basis, at a price per Unit of $2.55, for gross proceeds of $42,965,383.50 (the "Offering").
Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $3.50 for a period of 24 months from the closing of the Offering.
The net proceeds of offering will be used to fund further investments by the Company pursuant to its investment mandate, including the Company's acquisition of Coinstream Mining Corp.
The Offering was led by Canaccord Genuity Corp. with a syndicate of underwriters including Clarus Securities Inc., Eight Capital and Haywood Securities Inc. In consideration for their services, the underwriters received a cash commission of 7% of the gross proceeds from the Offering and non-transferable compensation options equal to 7% of the number of Units issued pursuant to the Offering. Each Compensation Option is exercisable for one year from the closing date of the Offering to acquire Units consisting of one Common Share and one Warrant at a price of $2.55 per Unit, with the Warrants being exercisable for a period of one year from the closing date at a price of $3.50 per Common Share.
All Common Shares and Warrants issuable upon the closing of the Offering will be subject to a statutory hold period lasting four months and one day following from the closing date of the Offering.
Shidan Gouran, President of Global Blockchain noted, "We are very pleased to have brought in some strong and supportive new shareholders via this offering. We look forward to executing on our investment mandate and accretively building value for our investors in 2018 and beyond, as BLOC's team of experts navigates our exciting and dynamic area of focus."
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and were not offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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