Blox Inc (fka BLXX)

[Elcappy1]

Blox, Inc. provides this update regarding the status of its interest in Guinea (Mansounia Gold/Caspian Oil & Gas withdrawn permit).



Mr. Nicholas Taylor, of Waratah Investments Limited, located at 2 Fofo Link, Accra, Ghana, West Africa, a related party and a significant shareholder of Company, represented by Barrister Seikhou Ketouré, at the court in accordance with instruction by Mr. Nicholas Taylor, litigated in the Guinea Supreme Court for an injunction of the Penta Goldfields Company SARL (“Penta”) Exploration permits.



When the Guinea Ministry of Minerals and Geology (“MMG”) cancelled Caspian Oil and Gas permit, it divided the Mansounia concession into two parts. On April 6, 2020 the MMG issued Exploration permits for both parts of the concession to Penta. On July 27, 2020, Mr. Nicholas Taylor, lodged an application with the Guinea Supreme Court and has successfully obtained an injunction suspending the two permits issued to Penta in April this year by MMG.



The court ruled that there had been several irregularities by MMG in the issuing of these permits, and that the permits be suspended pending the outcome of the injunction against MMG. This injunction will cite the same irregularities as it did against Penta and is supported by the precedent of the Penta case. This case is due to be heard in October 2020.



This does not reinstate our permit or interest the we had in the Mansounia concession, though we are optimistic it could give us the opportunity to reclaim the permits.