Cryptoblox Technologies Inc (TSE:BLOX) has released an update.
CryptoBlox Technologies Inc. has successfully completed a strategic debt conversion, issuing 109,090 common shares to settle CA$60,000 of accounts payable at $0.55 per share, aligning creditors with the company’s long-term vision. This move, part of its diversified Blockchain Ecosystem strategy, is aimed at strengthening the company’s financial position without creating a new control person. The transaction is also classified as a related party transaction, with CEO Akshay Sood receiving Settlement Shares, but stays within the exemption limits of market capitalization rules.
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