Blox Labs Amends Letter of Intent with AgraFlora Organics International Inc.
February 20, 2019 / TheNewswire / Toronto, Ontario – Blox Labs Inc. (“BLOX” or “the Company”) (CSE: BLOX) (Frankfurt: BR1B), wishes to announce an amendment to the letter of intent signed with AgraFlora Organics International Inc. (“Agra”) that was originally announced on January 7, 2019. The parties have agreed to reduce the total number of special warrants (“Special Warrants”) to be issued to Agra from 71,364,300 to 57,091,440. The Special Warrants are to be priced at a deemed value of $0.05 per Special Warrant (for a total value of $2,854,572).
There can be no assurance that the transaction will be completed as proposed or at all. BLOX will provide further disclosure by way of press releases and updates as such additional information becomes available.
About Blox Labs Inc.
On October 12, 2018, Blox announced it had entered into a non-binding letter of intent to acquire all the issued and outstanding securities of BCP in exchange for approximately 240 million common shares of Blox which would result in a reverse takeover and a change of business for Blox. BCP is a Canadian company headquartered in Toronto, Ontario that recently acquired a state-of-the-art agricultural facility in Leamington, Ontario – a preeminent locale for cannabis cultivation in Canada. The current greenhouse facility consists of 180,000 sq. ft. of cultivation space with the potential future expansion of up to 1,000,000 sq. ft. For more information please visit: www.bloxlabs.ca.
Blox Labs Inc.
CEO and Director
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.