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Block One Capital Inc. Announces Closing of Oversubscribed $10 Million Non-brokered Private Placement

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Block One Capital Inc. (BLOK.V) (ES3.F) (the “Company” or “Block One”), is pleased to announce further to its previous news releases, it has successfully closed an oversubscribed private placement (the “Offering”) of 10,000,000 units (the “Units”) of the Company at a price of $1.00 per Unit for gross proceeds of $10,000,000.

Each Unit consisted of one (1) common share (a “Share”) and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant shall be exercisable to acquire one additional Share at a price of $1.50 for a period of two (2) years from the date of closing. In the event that the Shares trade at a closing price of greater than $2.50 per Share for ten (10) consecutive trading days, the Company may accelerate the expiry date of the warrants to the 30th day after the date on which it provides notice of acceleration.

“We are very pleased to have completed a successful oversubscribed financing in such a short period of time. Our model identifying early stage, high growth opportunities with the best in class management has resonated with the investment community. We remain focused on the business plan execution for our two recently announced investments and also the potential in our growing pipeline of additional investment opportunities,” said David Berg, CEO of Block One.

The Company intends to use the net proceeds of the offering to fund its ongoing investment strategy in the cryptocurrency and blockchain space. The Company paid a commission to qualified parties of up to 8% of the Offering proceeds in compensation units, which units have substantially the same terms as the Units.

All securities issued in connection with the offering are subject to a four month hold period, expiring April 22, 2018, in addition to any other restrictions under applicable law.

For more information on Block One Capital Inc. please visit: www.blockonecap.com.

ON BEHALF OF THE BOARD

“David Berg”
Chief Executive Officer and Director

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This news release may contain forward-looking statements that are based on the Company’s current expectations, estimates and/or projections regarding its business and the economic environment in which it operates. Such information in this news release includes statements relating to the closing of the Offering and the use of the net proceeds of the Offering. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release and has in no way passed upon the merits of the qualifying transaction and has neither approved nor disapproved of the contents of this press release.

FOR ADDITIONAL INFORMATION CONTACT:

Block One Capital Inc.

Office: 604-908-3095; email:  info@blockonecap.com