BLOK Digital Provides Updates on Private Placement Financings

Core Points - BLOK Digital Ltd. has successfully secured full subscription agreements for two non-brokered private placements, raising a total of $1,500,000 [1][3] - The first private placement involved 10,000,000 common shares at $0.10 per share, generating gross proceeds of $1,000,000 [1] - The second private placement involved 3,846,154 shares at $0.13 per share, generating gross proceeds of $500,000 [3] Use of Proceeds - The net proceeds from the first private placement will be used to settle outstanding debts, update continuous disclosure records, and for general corporate and working capital purposes [2] - The net proceeds from the second private placement will be allocated towards asset acquisition, business combination, and general corporate and working capital purposes [4] Regulatory Compliance - Both private placements are subject to separate approval by the NEX board of the TSX Venture Exchange, with expected closure shortly after receiving the necessary approvals [5] - The securities issued will be subject to a four-month hold period in accordance with applicable securities laws [5] Additional Information - The company may pay commissions or finder's fees to eligible parties in connection with the private placements, pending approval from the Exchange [6]