お知らせ • Feb 02
BLOK Technologies Inc. Commits Misrepresentation About Consultant Spending The B.C. Securities Commission (BCSC) has found that a Vancouver-based blockchain technology investment company made misrepresentations when it failed to disclose it had spent, or planned to spend, most of the proceeds from a private placement on consultants. A panel found that BLOK Technologies Inc., previously known as Aida Minerals Corp., published a false or misleading news release which said the company had raised approximately $5.4 million, but did not disclose that nearly $4.4 million would go toward consulting fees. The company retained approximately $950,000 – less than 18% of the amount raised. The news release indicated that the proceeds of the private placement would be spent on advancing the company's blockchain investment projects, evaluating new blockchain opportunities and working capital. Given these claims, the panel concluded that reasonable investors would not have expected that BLOK would retain less than 18% of what it had raised to execute its business model and pay expenses. The panel found that the company's failure to disclose this information to investors was misleading and a misrepresentation. The panel dismissed allegations that BLOK's vice-president and director, James Joseph Hyland, authorized, permitted or acquiesced in BLOK's contravention and therefore committed the same offence. In making this determination, the panel concluded that the "Executive Director has failed to establish that Hyland had actual knowledge of the consulting agreements when the June 8 news release was issued. The company, which is in the process of being dissolved, used to trade on the Canadian Securities Exchange. The panel will next consider what sanctions to impose, which could include monetary penalties or bans from market participation. お知らせ • Oct 03
BLOK Technologies Inc., Varipay Inc. and Greenstream Networks Inc. Enter into Memorandum of Understanding BLOK Technologies Inc. announced that Varipay Inc. and the company have entered into a Memorandum of Understanding (“MOU”) to collaborate on the development of a payment gateway to be integrated into the Greenstream Network, the blockchain-enabled supply chain integrity platform developed by Greenstream Networks Inc. This comprehensive MOU outlines the strategic partnership Varipay and BLOK Tech are forming to develop business opportunities in the industry. Under the terms of the MOU the Parties agree to: Varipay will provide payment processing capabilities to Greenstream, including API integration documentation, onboarding & operational support to facilitate the on-going development of Greenstream; Greenstream will collaborate with Varipay to integrate blockchain technology into Varipay’s technology solution; Varipay and Greenstream will agree on a revenue sharing model for each transaction through the Greenstream Network; Varipay and Greenstream will collaborate and support each other in the development and improvement of the payment gateway application, and the technologies of their mutual go to market offering; BLOK Tech, Greenstream and Varipay agree to collaborate with respect to the planning and design of financial services technology, blockchain technology integration and other business opportunities for the cannabis industry, as mutually agreed.