TORONTO, ONTARIO / TheNewswire / November 7, 2017 – NOBELIUM TECH CORP. ("Nobelium" or the “Company”), a capital pool company, announces that it will not be proceeding with the previously announced letter of intent dated August 22, 2017 with NextBlock Global Limited (“NextBlock”) to combine their business operations (the “Transaction”).  The proposed business combination was to result in a reverse takeover of the Company by NextBlock and its shareholders.

 

Nobelium is a Capital Pool Company and had intended that the Transaction would constitute its Qualifying Transaction under the policies of the TSX Venture Exchange.  Nobelium will immediately begin to identify a Qualifying Transaction.

 

Nobelium’s shares were halted from trading upon the prior announcement of the proposed Transaction on August 24, 2017.  It is anticipated that Nobelium will resume trading on the TSX Venture Exchange on November 9, 2017.

 

Nobelium filed an amendment (the “Amendment”) to its notice of meeting dated September 28, 2017 (the “Notice of Meeting”) and its management information circular dated September 28, 2017 (the “Information Circular”) in respect of the special meeting of shareholders originally scheduled to be held on October 30, 2017 (the “Meeting”).  In light of the Amendment, management of the Corporation decided to instead hold the Meeting on Tuesday, November 14, 2017 at 11:00 a.m. (AST).  The Meeting location and the Record Date (as such term is defined in the Information Circular) remained unchanged.  As the Transaction is not proceeding, the Meeting is cancelled.  Notice of the cancellation of the Meeting has been filed on SEDAR at www.sedar.com.

 

For further information: Erroll Treslan, President  T:514-374-1834.

 

CAUTIONARY STATEMENT:

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

 

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ fromthose reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

 

(Not for distribution to US wire services or for dissemination in the United States of America)