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 nc@blockcommodities.com
Aquis Exchange Corporate Adviser:
First Sentinel Corporate Finance Limited +44 7876 888 011
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)
