GlobalBlock Announces Proposed Reverse Takeover (RTO) By CHAINERGY, A Company Developing Sustainably Powered Artificial Intelligence Data Centers

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Calgary, Alberta--(Newsfile Corp. - January 6, 2025) - GlobalBlock Digital Asset Trading Limited (TSXV: BLOK.H) (OTC: BLVDF) (FSE: BD4) (the "Company") is pleased to announce it has entered into an arm's length, binding letter of intent effective January 3, 2025 (the "LOI") with RTC Merchants Ltd. (doing business as CHAINERGY) ("CHAINERGY") to complete a proposed reverse takeover transaction (the "Transaction"). The Transaction is expected to constitute a "Reverse Takeover" transaction pursuant to TSX Venture Exchange (the "Exchange") Policy 5.2 – Changes of Business and Reverse Takeovers ("Policy 5.2").

Upon completion of the Transaction, (i) the combined entity (the "Resulting Issuer") will carry on the business of CHAINERGY (described below), (ii) existing shareholders of CHAINERGY and subscribers in the Concurrent Financing (defined below) will exchange their securities for similar securities of the Resulting Issuer, (iii) the Consolidation (defined below) will be completed; and (iv) the Company will be renamed and obtain a new ticker symbol. It is the intention of the parties that the Resulting Issuer will be listed on the Exchange.

About CHAINERGY and its Business

Founded in 2022, CHAINERGY is a privately held UK company at the forefront of the energy transition and digital infrastructure revolution. Driven by a team of seasoned entrepreneurs, CHAINERGY is working to redefine the future of data processing with sustainably powered modular data centres designed to meet the surging demand for Artificial Intelligence. With deep expertise in energy optimisation and digital infrastructure, CHAINERGY's scalable, "energy-first" business model seeks to lower costs and bypass electricity grid constraints. As global data centre energy demand is set to double by 2030, CHAINERGY is delivering innovative solutions to bridge the gap between rapid digital growth and the physical infrastructure required to sustain it.

James Behan, CEO of CHAINERGY, said:

"Over the past few years, we have successfully demonstrated the technical and commercial viability of our innovative approach: deploying small, modular and sustainable data centres alongside highly competitive renewable energy sources. CHAINERGY is positioned to address the AI energy challenge with an efficient, forward-thinking solution that operates independently of an already overburdened electricity grid."

"With the requisite capital, we are poised to rapidly deliver our first commercial-scale data centre in the UK, laying the foundation for a broader rollout across Europe and beyond. We are thrilled to partner with a supportive shareholder base that values innovation and sees the extraordinary potential of our business model."