Cryp­to­bloc set­tles DMG Blockchain copy­right suit

Stockwatch Daily - - MINES & METALS - Mr. Neil Steven­son-Moore re­ports

CRYP­TO­BLOC TECH­NOLO­GIES Corp. has pro­vided a cor­po­rate up­date.

Set­tle­ment of lit­i­ga­tion

On Jan. 31, 2018, the com­pany was named as a de­fen­dant in a Supreme Court of Bri­tish Columbia ac­tion com­menced by DMG Blockchain So­lu­tions Inc., which al­leged that the com­pany had in­fringed a DMG copy­right when it used ma­te­ri­als in a slide deck pre­sen­ta­tion de­signed by DMG in its own pre­sen­ta­tion to po­ten­tial in­vestors. On March 29, 2018, a de­fault judg­ment was en­tered in the ac­tion, with dam­ages and costs to be as­sessed. Since such date, DMG and the com­pany have been work­ing to­wards a set­tle­ment re­spect­ing the ac­tion and the com­pany an­nounces to­day that the terms of a set­tle­ment have been agreed upon. The terms of the set­tle­ment are confidenti­al and pro­vide that the com­pany will make a cash pay­ment to DMG.

Res­ig­na­tion of Akash Pa­tel

The com­pany also an­nounces the res­ig­na­tion of Akash Pa­tel as pres­i­dent and a direc­tor of the com­pany. Mr. Pa­tel has left the com­pany to pur­sue other in­ter­ests. The com­pany thanks Mr. Pa­tel for his ser­vice and con­tri­bu­tion to the com­pany and wishes him all the best in his fu­ture en­deav­ours.

The com­pany has ini­ti­ated a search for one or more new di­rec­tors to replace Mr. Pa­tel.

About Cryp­to­bloc Tech­nolo­gies Corp.

Based in Van­cou­ver, B.C., Cryp­to­bloc Tech­nolo­gies is fo­cused on de­vel­op­ing and im­ple­ment­ing blockchain, distribute­d ledger, closed loop and cryp­tocur­rency ser­vices for gov­ern­ment and com­mer­cial part­ners. Cryp­to­bloc is com­mit­ted to de­vel­op­ing in­no­va­tive and dis­rup­tive so­lu­tions that con­stantly im­prove ac­tive busi­ness prac­tices for its part­ners.

We seek Safe Har­bor.

Brian Biles, Ken­neth Clif­ford Phillippe

(CRYP) Shares: 60,960,901

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