Global Gaming Technologies Corp. (BLKCF)

[ogflee1]

Update Regarding Record Date for Spinout Share Issuance

https://ir.globalblockchain.io/press-releases/detail/59/global-blockchain-provides-update-regarding-record-date-for

Download as PDF November 01, 2018
As the legal and administrative processes relating to BLOC’s acquisition of X2 carry on, the Company’s board has elected to defer the determination of the definitive Record Date for purposes of participating in the spin out of certain assets, until the date is officially agreed upon between BLOC and X2. Once this agreement has been reached, the corresponding date will be announced by way of press release, among other channels. The acquisition’s roadmap remains on track with a signed letter of intent between BLOC and X2. Since its initial announcement, the acquisition has been very positively received by BLOC shareholders.

VANCOUVER, B.C., Nov. 01, 2018 (GLOBE NEWSWIRE) -- GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE: BLOC.U) (FSE: BWSP) (OTC: BLKCF) ("BLOC" or the "Company") announces to its investors that the date (the “Record Date”) at which shareholders of BLOC will become entitled to participate in the spin out of certain enterprise and exchange activities, as announced on October 11, 2018, has been deferred pending the finalization of a definitive closing date that will result in X2 Games Corp. (“X2”) being acquired by BLOC. At this time, BLOC and X2, as well as their respective professional advisors, are completing definitive documentation and obtaining requisite approvals for the Transaction. A new Record Date will be set upon completion of these tasks, and this date will be announced along with corresponding details of the finalized acquisition by way of press release, as well as the use of other media and IR channels.

The acquisition is continuing as planned, with a letter of intent having been signed by both BLOC and X2. Both companies are also in discussions about the synergies between their assets and personnel, which has revealed even more opportunities for disruptive and innovative blockchain-based gaming developments. The acquisition has garnered much positive attention from the business news media and shareholders alike since its announcement on October 11, 2018.

“Even before the acquisition has been finalized, we’re already doing great things with X2”, said Shidan Gouran, President and CEO of the Company. “Our team and their team have collaborated and discovered even more potential from this acquisition than we had anticipated at the outset. Since our announcement of the acquisition attracted a lot of attention from our shareholders, we have gotten several inquiries about the Record Date. Our board has decided to defer the finalization of the Record Date for the time being as the acquisition is finalized, thus giving our investors even more flexibility to plan their holdings of BLOC shares to ensure they receive the desired participation in the spinout.”

On behalf of the Company:
Shidan Gouran, President and CEO
[e-mail]

For more information, please contact:
Global Blockchain Technologies Corp. Investor Relations
[e-mail]
800-689-8089