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Block One Announces Financing, Consolidation and Name Change

Tickers: XTSX:BLOK, XOTC:BKPPF, PINX:BKPPF
Tags: #Mining, #Technology, #Blockchain



VANCOUVER, BRITISH COLUMBIA - TheNewswire - April 17, 2020 - Block One Capital Inc. (TSXV:BLOK), (OTC:BKPPF), (Frankfurt:ES3) (the "Company" ), announces that, subject to regulatory approval, Block One Capital Inc. intends to conduct a non-brokered private placement offering comprising up to five million units at $0.07 per unit for total gross proceeds of up to $350,000. Each unit will consist of one post-consolidated common share and one three year warrant exercisable at 10 cents per post-consolidated common share for a period of 90 days from closing and thereafter at 15 cents per share. Finders' fees may be payable in connection with this offering. Proceeds will be utilized to supplement the Company's investment capital and to provide general working capital. Finders' fees and commissions may be payable subject to TSX Venture Exchange policies.

In conjunction with this private placement, the Company intends, by resolution of the directors, to consolidate the issued and outstanding shares of the Company on a one-new-share-for-3-old-shares basis and change its name to ESG Global Impact Capital Inc. The Company currently has 66,598,333 common shares issued and will have 22,199,444 common shares issued on a post-consolidation basis. The Company has been advised by the TSXV that the Company's post-consolidated shares will trade under the symbol ESGW once the changes are effected. Assuming completion of the maximum subscription of this proposed offering, the Company will have 27,199,444 common shares issued and outstanding on a post-consolidation basis.

The common shares issued pursuant to the private placement to subscribers resident in Canada in the offering will be subject to a statutory four-month hold period. The offering is subject to certain closing conditions, including, but not limited to, the receipt of applicable regulatory approvals, including approval of TSX-V, and the completion of required regulatory filings with TSX-V.

For more information on Block One please visit the Company's website at: www.blockonecap.com.

ON BEHALF OF THE BOARD

"David Berg"

Interim Chief Executive Officer and Director

Email: info@blockonecap.com

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This news release contains forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. Although Block One believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include costs affecting profitability, availability of capital and financing on acceptable terms, general economic, market or business conditions, including the general risks associated with regulatory changes, availability of personnel, on a timely basis, accidents, and uninsured risks,. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

Copyright (c) 2020 TheNewswire - All rights reserved.

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