GlobalBlock Announces Termination of Proposed Reverse Takeover (RTO); Management Transition

Newsfile Corp.

Mon, Apr 28, 2025, 5:00 PM 2 min read

Calgary, Alberta--(Newsfile Corp. - April 28, 2025) - GlobalBlock Digital Asset Trading Limited (TSXV: BLOK.H) (OTC Pink: BLVDF) (FSE: BD4) (the "Company") announces termination of its previously announced reverse takeover transaction (the "Transaction") with RTC Merchants Ltd. The Transaction contemplated a concurrent financing and raising the target sum was crucial to the Transaction succeeding. Unfortunately, turbulent market conditions have made completion of that financing challenging at this time and it has not been possible to execute a definitive agreement within the deadline, even following an extension, and the Transaction has been terminated.

The Corporation is now evaluating other acquisition opportunities with a view to acquiring or combining with a new business.

In addition, the Company announces that Mr. Rupert Williams is stepping down from his role as Chief Executive Officer of the Company and as a director, as he shifts his focus toward the other companies and ventures he is actively involved with. Effective immediately, Mr. Angus Campbell has been appointed Chief Executive Officer of the Company and as a director of the Company, and will lead the Company as it pursues a strategic transaction that will result in the Company having an operating business.

The Board thanks Mr. Williams for his contributions to the Company during his tenure and is grateful that he will remain available to the Company in an advisory capacity as needed as it seeks to complete a strategic transaction.

Mr. Campbell commenced his career in a London based hedge fund before moving into retail broking where he led a sales desk at one of London's leading retail financial services providers. He progressed to becoming a recognised market analyst appearing regularly on Bloomberg, CNBC and Sky News before moving into PR and communications. In 2018, he established the boutique PR firm Nominis Advisory, serving both private and publicly listed companies across a broad range of sectors including financial services, technology and natural resources, including firms listed in both Canada and the UK.

He has previously served as a Director of TSX Venture Exchange listed Prestwick Capital Corporation, which is now called Legacy Gold Mines Ltd (LEGY:TSXV), following completion of its Qualifying Transaction to become a gold exploration and development company.

Mr. Campbell graduated from the University of Exeter with a BA Hons in Business and Accounting with European Study in 2001.

For further information, please contact:

GlobalBlock Digital Asset Trading Limited
Angus Campbell, CEO
Telephone: +44 7881 625098
Email: ajmcampbell@gmail.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information set out in this news release constitutes forward-looking statements or information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the ability of the Company to successfully identify and complete the acquisition of or combination with a new business. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's most recent management's discussion and analysis, a copy of which is filed on SEDAR+ at www.sedarplus.ca, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250064

Terms and Privacy Policy

Your Privacy Choices

Utah Privacy Notice

More Info

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

In This Article:

Recommended Stories