Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - BlockchainK2 Corp. (TSXV: BITK) (OTCQB: BIDCF) (FSE: KRL2) (the "Company") announces that its common shares will be reinstated for trading on the TSX Venture Exchange. The Company was delayed in filing its annual audited financial statements for the fiscal year ended September 30, 2024, which were due on January 30, 2025 and its interim financial statements for the period ended December 31, 2024. As a result, the BCSC Securities Commission issued a Cease Trade Order ("CTO") on April 2, 2025. The annual audited financial statements, interim financial statements and accompanying management's discussion and analyses and officer certifications were completed shortly thereafter, and the CTO was revoked on May 14, 2025. The Company then entered the TSX Venture Exchange's standard reinstatement review process.
Marketing Arrangements
The Company also announces it engaged Orsus Consult GmbH ("Orsus") to provide online marketing, advertising, and analyst-coverage for the Company for a term of six months that commenced April 1, 2024 at price of 55,000 EUR which was paid upfront. The contract was not renewed and has now expired. Neither Orsus nor its principal, Sascha Opel, received any securities in connection with the services provided. Orsus and Mr. Opel are arm's length to the Company. The principal of Orsus is Sascha Opel of Parsifalstraße 10 Bayreuth, Bayern (DE-BY), 95445 GERMANY.
Working capital deficiency
The Company's March 31, 2025, interim financial statements reflect a working capital deficiency of $1,222,197. The largest components of this deficiency is $1,236,453 of accounts payable and accrued liabilities and short term loans payable of $177,978. Following the reinstatement of the Company's common shares for trading, the company plans to complete a private placement of common shares to improve its working capital deficiency.
BlockchainK2 Corp.
Sergei Stetsenko
CEO
Phone: +971502806737
Email: s.serge@gmail.com
Neither 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.
Forward-looking Information Cautionary Statement
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information in this release includes, but is not limited to, statements regarding: the expected reinstatement of trading of the Company's common shares on the TSX Venture Exchange; the Company's intention to complete a private placement and improve its working capital position; the expected impacts of the Company's investment in Enverxergy Inc. (d/b/a "RealBlocks"); and the Company's future business and operational plans.
Forward-looking information is typically identified by words such as "anticipate", "believe", "expect", "plan", "intend", "will", "may", "could", "estimate", "propose" and similar expressions, or statements that events or conditions "may" or "will" occur. These statements are based on management's current expectations and assumptions, including assumptions regarding: (i) the timely completion of reinstatement procedures by the TSX Venture Exchange; (ii) the Company's ability to successfully raise capital in the public markets; (iii) the continued viability and potential of the RealBlocks platform; and (iv) general economic, market and regulatory conditions remaining favorable.
Forward-looking information is subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include, but are not limited to: delays or failure in obtaining regulatory approvals; volatility or illiquidity in capital markets; the Company's ability to manage its current working capital deficiency; risks related to the integration, operation and value of the RealBlocks platform; reputational risks or limitations arising from past financial reporting delays and CTOs; the short-term and non-equity nature of the Company's marketing arrangements; and general business, economic, competitive, political, and social uncertainties.
There can be no assurance that the forward-looking statements contained in this news release will prove to be accurate. Actual results and future events could differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law.
Additional information identifying risks and uncertainties relating to the Company's business is contained under the heading "Risk Factors" in the Company's most recent filings with Canadian securities regulators, which are available under the Company's profile at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261547
SOURCE: BlockchainK2, Corp
