Blox Labs Inc. (CSE: BLOX) (Frankfurt: BR1B) wishes to announce that it has closed its non-brokered private placement financing announced on June 1, 2018. The Company raised gross proceeds of $1,111,650 through the issuance of 14,821,998 common shares at a price of $0.075 per share. In addition, the Company paid a total of $503 in finder’s fees.  The net proceeds of the Offering will be used for ongoing software development including the assessment and development of blockchain applications, identifying business acquisitions and partnerships in the technology sector as well as for general working capital purposes. 

The securities issued by the Company in connection with the Offering are subject to a four months plus one day resale restriction following the date of distribution under applicable Canadian provincial securities laws.

About Blox Labs

Blox Labs Inc. is a technology development company focused on creating best-in-class software solutions driven by emerging trends in Blockchain, Smart Contracts and Decentralized Applications. BLOX is helping customers with solutions for business problems from proofs of concept through execution. The Company is currently piloting blockchain solutions for supply chain management and improvement as well as other areas. BLOX is actively targeting partnerships and strategic acquisitions of growth companies.