Toronto, Ontario / TheNewswire / May 14, 2018 - Blox Labs Inc. (“BLOX” or “the Company”) (CSE: BLOX) (Frankfurt: BR1B) is pleased to announce that, effective immediately, certain major shareholders have entered into voluntary pooling agreements representing 6,200,000 shares of the Company.  These voluntarily pooled shares represent approximately 25% of the issued and outstanding share capitalization of the Company.  The terms of the pooling agreement will restrict resale of the shares for a period of 18 months effective May 08, 2018.  There will be no shares released in any tranches whatsoever during the 18-month period.  In addition to the voluntarily pooled shares as noted above, under regulatory order, 6,166,438 shares of the Company that are held by the previous CEO have been subject to mandatory trading restriction for a period of 60 months effective as of May 07, 2018.  These additionally restricted shares represent a further 25% of the issued and outstanding share capitalization of the Company.  As a result of the foregoing, a total of approximately 50% of the currently issued and outstanding share capitalization of the Company has been restricted from trading for between 18 to 60 months.

 

Jeff Zanini, President & CEO states, “We are very pleased about this significant voluntary share lock-up which demonstrates a tremendous amount of confidence by our key shareholder group. The lock-up agreement allows BLOX to steadily grow our shareholder base while focussing on best-in-class execution of our strategic initiatives and growth plans.”

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.

Blox Labs Inc.

Jeff Zanini, CEO and Director

Phone: +1.416.262.0871

Email: ir@bloxlabs.ca

Website: www.bloxlabs.ca

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. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including future plans for development of technologies by 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.