Block Commodities Ltd: Cannabis Licence Acquisition and Greenbelt Update

DJ Block Commodities Ltd: Cannabis Licence Acquisition and Greenbelt Update

Block Commodities Ltd (BLCC) 
Block Commodities Ltd: Cannabis Licence Acquisition and Greenbelt Update 
16-March-2021 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 
(MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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The information communicated within this announcement is deemed to constitute inside information as stipulated under 
the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is 
now considered to be in the public domain. 
 
 
16 March 2021 
 
BLOCK COMMODITIES LIMITED 
("Block Commodities", "BLCC" or the "Company") 
 
Cannabis Licence Acquisition and Greenbelt Update 
 
Cannabis Licence Acquisition 
Block Commodities  is  pleased to announce that the Company and Century Cobalt Corporation ("CCOB"), together the 
"Acquiring Parties", have entered into an option agreement to acquire a 70% interest (the "Acquisition") in a Medicinal 
Cannabis licence granted to Magnus Cannabis Group (Private) Limited ("Magnus") by the government of Zimbabwe. The 
Acquiring Parties will each hold 35%. CCOB is a publicly traded (OTCQB: CCOB) cobalt exploration and development 
company headquartered in Los Angeles, California. The stake in the Magnus licence, will secure supply of medicinal 
grade cannabis for the production of Nutraceuticals. 
 
 
The option is for an exclusivity period of 90 days to complete the Acquisition. The proposed terms of the Acquisition 
are as follows: 
 
  - Payment of an Option fee of GBP50,000, to be apportioned equally between the Acquiring Parties, and 
 
  - Payment by BLCC of GBP 1.5m through the issue of 2,142,857,142  fully paid ordinary shares in BLCC (calculated at 
    0.07p per share) upon exercise of the option, and contemporaneously the payment by CCOB of GBP1.5m of CCOB fully 
    paid ordinary shares price based on a 30day VWAP (using the USUSD:GBGBP closing middle market exchange rate published 
    by the Bloomberg on the day immediately prior to completion). 
 
Greenbelt Update 
The Company is no longer pursuing the acquisition of Greenbelt Company Limited, pursuant to an option agreement date 27 
March 2019, as the relevant Cannabis legislation is no longer under consideration by the Sierra Leone government. 
 
The Directors of the Company accept responsibility for the content of this announcement. 
 
For further information, please contact: 
 
Block Commodities Limited 
Ian Tordoff                               [e-mail] 
 
Aquis Exchange Corporate Adviser: 
First Sentinel Corporate Finance Limited  [phone] 
Brian Stockbridge 
 
Gabrielle Cordeiro ----------------------------------------------------------------------------------------------------------------------- 
ISIN:           GG00B4QYTJ50 
Category Code:  ACQ 
TIDM:           BLCC 
LEI Code:       2138001KNTXRAZTFKU51 
OAM Categories: 2.2. Inside information 
Sequence No.:   95568 
EQS News ID:    1175778 
 
End of Announcement  EQS News Service 
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(END) Dow Jones Newswires

March 16, 2021 03:00 ET (07:00 GMT)