Tickers: XCNQ:BLOX, FRAA:BR1B, PINX:BLLXF
Tags: Blockchain, Mining
Toronto, Ontario / TheNewswire / June 22, 2018 - Blox Labs Inc. ("BLOX" or "the Company") (CSE: BLOX) (Frankfurt: BR1B) is pleased to announce that its board of directors has approved a three for one stock split of the Company's common shares (the "Stock Split") held by shareholders as of June 28, 2018 (the "Record Date"). Consequently, shareholders as of the Record Date will receive, on July 4, 2018 (the "Payment Date"), two additional common shares for each common share held. In accordance with the Company's Articles, shareholder approval was not required for the Stock Split. The Company will not be changing its name, CUSIP or its current trading symbol in connection with the Stock Split.
The Company's common shares are expected to begin trading on a split-adjusted basis on June 27, 2018.
Shareholders do not need to take any action. The Company's transfer agent will send to all registered shareholders, on the Payment Date, a notice under the direct registration system indicating the number of additional common shares that they received as a result of the Stock Split. These additional common shares will be held in book-entry form and registered electronically in the transfer agent's recordkeeping system, unless a physical share certificate is requested by the registered shareholder. Currently outstanding share certificates representing common shares of the Company will continue to be effective. They should be retained by registered shareholders and should not be forwarded to the Company or its transfer agent. Non-registered shareholders will have their brokerage accounts automatically updated to reflect the Stock Split.
After giving effect to the Stock Split, the Company will have approximately 117,413,997 common shares outstanding. The Company's authorized share capital will remain unchanged.
Outstanding stock options and share purchase warrants will also be adjusted by the Stock Split ratio and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly.
About Blox Labs
Blox Labs Inc. is a technology development company focused on creating best-in-class software solutions driven by emerging trends in Blockchain, Smart Contracts and Decentralized Applications. BLOX is helping customers with solutions for business problems from proofs of concept through execution. The Company is currently piloting blockchain solutions for supply chain management and improvement as well as other areas. BLOX is actively targeting partnerships and strategic acquisitions of growth companies.
ON BEHALF OF THE BOARD
Jeff Zanini
CEO and Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release includes forward-looking information within the meaning of Canadian securities legislation concerning the business of the Company including plans for the Stock Split and the timing of the issuance of the additional securities and the expected time that the Company's common shares will begin trading on a post-split basis. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. 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 news release are made as of the date of this news release. 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.
Copyright (c) 2018 TheNewswire - All rights reserved.
