TORONTO, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, Daniel Wasyluk (“Wasyluk”) and Jag Singh Sidhu (“Sidhu”) are disseminating this press release as required by National Instrument 62-103 The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the acquisition of securities of BCF by Wasyluk and Sidhu.
On February 22, 2021, the Company granted 200,000 stock options (the “Options”) to each of Wasyluk and Sidhu (the “Acquirors”). The Options will vest in four equal tranches on each of August 22, 2021; February 22, 2022; August 22, 2022 and February 22, 2023 and expire on February 22, 2024. For more information please see the Company’s Form 11 filing dated February 22, 2021.
Following this grant Wasyluk and Sidhu each have beneficial ownership of 8,224,444 common shares (each a “Common Share”) and 850,000 Options, representing approximately 10.3% of the Company’s issued and outstanding Common Shares on a partially-diluted basis.
The Acquirors were granted Options as part of their role as executives of the Company. The Acquirors may, from time to time, acquire or dispose of additional securities of the Company. Other than the acquisition or disposition of securities of the Company for investment purposes, the Acquirors have no plans or future intentions of taking actions which relate to or would result in one or more of the transactions or matters referred to in Section 5 of the Early Warning Report (as defined below).
A report will be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing information with respect to the acquisition of securities of the Company by the Acquirors (the "Early Warning Report"). The Early Warning Report will be available on the Company’s SEDAR profile at www.sedar.com and may be obtained upon request from Chris Marsh, President, Blockchain Foundry Inc. at (647) 330-4572 or cmarsh@blockchainfoundry.co. The Company’s head office address is located at 501-3292 Production Way, Burnaby, British Columbia V5A 4R4.
About Blockchain Foundry Inc.
Blockchain Foundry develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.
Blockchain Foundry Contact Information:
Chris Marsh
President
cmarsh@blockchainfoundry.co
(647) 330-4572