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BlocPlay Entertainment Announces New Management Hire and Director Appointment


Toronto, Ontario--(Newsfile Corp. - August 7, 2018) - BlocPlay Entertainment (CSE: PLAY) ("BlocPlay" or the "Company") is pleased to announce the appointment of a new Director to its Board of Directors and the appointment of an interim Chief Executive Officer.

Mr. James Hutton has been appointed to act as interim Chief Executive Officer. Mr. Hutton is a graduate of York University with 15+ years of experience as an executive, who has held positions of Vice President and President in several multinational companies. Mr. Hutton has extensive experience in management, economics, business development, growth and corporate strategy. Since his last company's sale, Mr. Hutton has been providing consulting support services to companies in the media space. He has worked with companies such as Manulife, BMO, Scotia Bank, TD, BMO, General Motors and Dynamic Funds. Mr. Hutton also holds a Bachelors degree in Political Science with a minor in Economics.

Mr. Alex Powell, the current Chief Financial Officer of the Company, is appointed to the Board of Directors. Mr. Powell is an executive and entrepreneur who obtained his CA designation (now CPA CA) at a mid-sized accounting firm in Toronto. During his 4+ years at the firm, he headed audit teams for clients of various sizes in the GTHA. After leaving the firm, he has spent the last 8 years using his knowledge and experiences to help business owners expand their wealth. Mr. Powell has consulted with clients in many industries and many stages. His focus is on technology companies assisting owners with corporate finance and governance, and wealth management. Mr. Powell obtained an honours bachelor of commerce degree (focus on accounting and finance) from McMaster University.

The Company also announces today that Messrs. Usama Chaudhry and Simon Kim have resigned from the Board of Directors. The Company thanks Messrs. Chaudhry and Kim for their dedication and service to the Company and wishes them well in their future endeavors.

The current Board of Directors of the Company consists of Messrs. Raymond Gigliotti and Alex Powell. The current management of the Company consists of Messrs. James Hutton (interim CEO), Alex Powell (CFO), Mathieu Glaude (CPO), Alexandre Sanhaji (COO), and Jay Dawani (CMTO).

The Company wishes to remind its shareholders that it has called its annual shareholders meeting for September 28, 2018, and will shortly be mailing out to shareholders its management proxy circular setting forth, among other matters, the bios and details of all Directors that are being nominated for shareholder approval to serve as Directors. The Company is actively seeking additional qualified independent Directors for nomination.

Upon completion of the Company's upcoming shareholders meeting, and the appointment of the new Board of Directors by shareholders, the Company will undertake an executive search for a full time Chief Executive Officer. The Company also anticipates seeking additional financing after the shareholders meeting.

While current management is working to execute on the Company's stated business objectives, the Company is not aware of any material undisclosed information at this time.

Trading in the Company's common shares on the CSE has been suspended by the CSE due to the Company not having a third director nor a properly constituted audit committee (which requires two of three audit committee members being independent). The Company is actively seeking to rectify these deficiencies, it should be noted however that lifting the trading suspension remains at the discretion of the CSE.

About BlocPlay Entertainment

BlocPlay Entertainment is the world's first peer-to-peer, de-centralized digital entertainment company. Supporting video gamers, developers, and content creators - worldwide. Each day billions of consumers worldwide enjoy digital entertainment products. BlocPlay Entertainment plans to deliver a fully transparent distribution, publishing, and marketing platform for videogames and eSports events through our innovative tokenization system known as Token Play. BlocPlay Entertainment develops in-house entertainment technologies including video games and services. Entertainment develops in-house entertainment technologies including video games and services.

About TokenPlay

TokenPlay is a wholly owned subsidiary of Blocplay Entertainment and is the customer facing Brand involved in the development and utilization of blockchain technology in the video game space, which will seek to provide a platform for the exchange of in-game currencies and tokens.

For further information, please contact:

James Hutton, CEO
BlocPlay Entertainment Inc.
Phone: 416 583-3906

Forward - Looking Information

Certain information set forth in this news release may contain forward - looking information that involve substantial known and unknown risks and uncertainties. This forward - looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward - looking information. The parties undertake no obligation to update forward - looking information except as otherwise may be required by applicable securities law