Cryptobloc Closes Private Placement for $4.5 Million[url=https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aCRYP-2620439&symbol=CRYP®ion=C]https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aCRYP-2620439&symbol=CRYP®ion=C[/url]
018-06-06 17:34 ET - News Release
VANCOUVER, British Columbia, June 06, 2018 (GLOBE NEWSWIRE) -- Cryptobloc Technologies Corp. (“Cryptobloc” or the “Company”) (CSE:CRYP) (OTCMKTS:CRYBF) (Frankfurt Stock Exchange:GR9) is pleased to report that it has closed its previously announced non-brokered private placement of units (each, a “Unit”) of the Company at $0.15 per Unit (the “Private Placement”), for gross proceeds of $4,500,000.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”) of the Company, each Warrant entitling the holder to purchase one additional Share at a price of $0.25 per Share until June 6, 2020.
The proceeds from the Private Placement are anticipated to be used for general working capital and towards new acquisitions.