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BLOK Announces Filing of Corrective Disclosure Following Review by the BCSC

C.BLK

VANCOUVER, British Columbia, Sept. 19, 2019 (GLOBE NEWSWIRE) -- BLOK Technologies Inc. ("BLOK Tech" or the "Company") (CSE: BLK) (FRANKFURT: 2AD) wishes to announce that as a result of a review of its continuous disclosure record by the British Columbia Securities Commission (''BCSC''), the Company will amend and re-file its December 31, 2018 MD&A, the March 31, 2019 interim financial statements and MD&A and June 30, 2019 interim financial statements and MD&A.

The primary reason for the amending and re-filing of the December 31, 2018 financial statements and MD&A will be to ensure that figures therein are consistent with the December 31, 2018 financial statements.

The previously filed March 31, 2019 interim financial statements will be amended to restate the comparative information for the acquisition of Greenstream Networks Inc. The March 31, 2019 MD&A will be refiled as a result of re-filing of the financial statements for the period, revising disclosure in the MD&A regarding to related party transactions, the discussion of significant variances in expenses, and updates on proposed transactions.

The company will be amending and re-filing the June 30, 2019 interim financial statements and MD&A. The main reason for the re-filing will be to restate the comparative information for the Bridgemark Transaction related to the consulting fees and share capital.

The company also will be re-filing the material change reports filed by the company on August 7, 2019 and the main reason for the re-filing is to provide the correct disclosure as at the date of filing for the transactions disclosed in the material change reports.

The revised 2018 Year-End MD&A and 2019 Q1 MD&A can be viewed on SEDAR when available.

The Company will also file new certifications of re-filed annual and interim filings from the Company’s CEO and CFO for each of the periods being re-filed.

Material Contracts

On September 9 and 11, 2019, the Company filed a series of material contracts. Copies of the agreements can be viewed on SEDAR

Annual General and Special Meeting

The Company expects to reschedule its annual general and special meeting of shareholders (the "AGSM") as soon as possible after the documents discussed above are filed on SEDAR.

About BLOK Technologies Inc.

BLOK Technologies Inc. is a public company that invests in and develops companies in the blockchain and emerging technology sectors. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. BLOK Tech’s current portfolio includes Greenstream, a technology platform designed to effectively manage value transfer, supply chain integrity and identity verification in complex and highly regulated industries. The Company systematically identifies early-stage technologies with potential to disrupt and innovate within their industry and invests the necessary resources to ensure the success of their projects.

For additional information regarding BLOK Technologies and other corporate information, please visit the Company's website at BLOKTECHINC.COM

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

ON BEHALF OF THE BOARD OF DIRECTORS

“James Hyland”

Interim President & CEO

For further information, please contact:
James Hyland, B.Comm.
Interim President & CEO, Director
jamie@bloktechinc.com
(604) 442-2425

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company.  In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions.  Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release and include that the Company will amend and refile the specified documents, with the specified changes, as set out above. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.


 

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