Toronto, Ontario--(Newsfile Corp. - December 23, 2020) - Blocplay Entertainment Inc. (CSE: PLAY) (the "Company") is pleased to announce a non-brokered private placement financing for gross proceeds of up to $550,000 through the issuance of up to 5,000,000 common shares in the capital of the Company (the "Common Shares") at a price of $0.11 per Common Share (the "Private Placement"). Gross proceeds raised from the Private Placement will be used for working capital and general corporate purposes.
In addition, the Company announces that it has closed the first tranche of the Private Placement (the "Offering"), through the issuance of 827,272 Common Shares for gross proceeds of $90,999.92. The securities issued upon closing of the Offering are subject to a hold period until April 23, 2021.
Appointment of Chief Financial Officer
The Company announces that Mr. Arvin Ramos has resigned as the Company's Chief Financial Officer. The Board of Directors and management would like to thank Mr. Ramos for his contributions to the Company and wish him every success in his future endeavors. The Company is also pleased to announce the appointment of Sophia Tomory as the Chief Financial Officer of the Company.
Ms. Tomory graduated with a Bachelor of Commerce degree from the University of Toronto in 2002. She then went on to complete her Masters of Business Administration in accounting at the Schulich School of Business at York University in 2004. Sophia wrote the Uniform Final Examination for chartered accountants in 2005, earning a place on the National Honour Roll. She obtained her Chartered Accountant designation in 2007. Prior to becoming a partner of Alcalde & Tomory Chartered Accountants LLP, Ms. Tomory worked with a chartered accounting firm in Aurora from 2003 until 2011. During this time, she has taken additional coursework in both accounting and taxation. Sophia volunteers her time with the free tax clinic run by the Institute of Chartered Accountants of Ontario as well as acting as treasurer of several community based not for profit organizations.
For further information, please contact:
Blocplay Entertainment Inc.
Forward Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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