BlockchainK2 Announces Trading Reinstatement

Rhea-AI Summary

BlockchainK2 Corp. (OTCQB: BIDCF) announced the reinstatement of its common shares for trading on the TSX Venture Exchange following a Cease Trade Order (CTO) that was issued on April 2, 2025. The CTO was implemented due to delays in filing financial statements and was subsequently revoked on May 14, 2025.

The company's March 31, 2025 financials revealed a working capital deficiency of $1,222,197, primarily consisting of $1,236,453 in accounts payable and $177,978 in short-term loans. To address this deficit, BlockchainK2 plans to conduct a private placement of common shares. The company also disclosed a completed marketing arrangement with Orsus Consult GmbH for 55,000 EUR that expired after six months.

Positive

• CTO has been revoked, allowing trading reinstatement
• Company plans to improve working capital through private placement

Negative

• Significant working capital deficiency of $1.22M
• Delayed financial filings led to trading suspension
• High accounts payable of $1.24M and short-term loans of $178K

Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - BlockchainK2 Corp. (TSXV: BITK) (OTCQB: BIDCF) (FSE: KRL2) (the "Company") announces that its common shares will be reinstated for trading on the TSX Venture Exchange. The Company was delayed in filing its annual audited financial statements for the fiscal year ended September 30, 2024, which were due on January 30, 2025 and its interim financial statements for the period ended December 31, 2024. As a result, the BCSC Securities Commission issued a Cease Trade Order ("CTO") on April 2, 2025. The annual audited financial statements, interim financial statements and accompanying management's discussion and analyses and officer certifications were completed shortly thereafter, and the CTO was revoked on May 14, 2025. The Company then entered the TSX Venture Exchange's standard reinstatement review process.

Marketing Arrangements

The Company also announces it engaged Orsus Consult GmbH ("Orsus") to provide online marketing, advertising, and analyst-coverage for the Company for a term of six months that commenced April 1, 2024 at price of 55,000 EUR which was paid upfront. The contract was not renewed and has now expired. Neither Orsus nor its principal, Sascha Opel, received any securities in connection with the services provided. Orsus and Mr. Opel are arm's length to the Company. The principal of Orsus is Sascha Opel of Parsifalstraße 10 Bayreuth, Bayern (DE-BY), 95445 GERMANY.

Working capital deficiency

The Company's March 31, 2025, interim financial statements reflect a working capital deficiency of $1,222,197. The largest components of this deficiency is $1,236,453 of accounts payable and accrued liabilities and short term loans payable of $177,978. Following the reinstatement of the Company's common shares for trading, the company plans to complete a private placement of common shares to improve its working capital deficiency.

BlockchainK2 Corp.
Sergei Stetsenko
CEO
Phone: +971502806737
Email: s.serge@gmail.com

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

Forward-looking Information Cautionary Statement

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information in this release includes, but is not limited to, statements regarding: the expected reinstatement of trading of the Company's common shares on the TSX Venture Exchange; the Company's intention to complete a private placement and improve its working capital position; the expected impacts of the Company's investment in Enverxergy Inc. (d/b/a "RealBlocks"); and the Company's future business and operational plans.

Forward-looking information is typically identified by words such as "anticipate", "believe", "expect", "plan", "intend", "will", "may", "could", "estimate", "propose" and similar expressions, or statements that events or conditions "may" or "will" occur. These statements are based on management's current expectations and assumptions, including assumptions regarding: (i) the timely completion of reinstatement procedures by the TSX Venture Exchange; (ii) the Company's ability to successfully raise capital in the public markets; (iii) the continued viability and potential of the RealBlocks platform; and (iv) general economic, market and regulatory conditions remaining favorable.

Forward-looking information is subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include, but are not limited to: delays or failure in obtaining regulatory approvals; volatility or illiquidity in capital markets; the Company's ability to manage its current working capital deficiency; risks related to the integration, operation and value of the RealBlocks platform; reputational risks or limitations arising from past financial reporting delays and CTOs; the short-term and non-equity nature of the Company's marketing arrangements; and general business, economic, competitive, political, and social uncertainties.

There can be no assurance that the forward-looking statements contained in this news release will prove to be accurate. Actual results and future events could differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law.

Additional information identifying risks and uncertainties relating to the Company's business is contained under the heading "Risk Factors" in the Company's most recent filings with Canadian securities regulators, which are available under the Company's profile at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261547

FAQ

What caused BlockchainK2 (BIDCF) shares to be suspended from trading?

BlockchainK2's shares were suspended due to delays in filing its annual audited financial statements for fiscal year 2024 and interim statements for December 2024, resulting in a Cease Trade Order on April 2, 2025.

When was the Cease Trade Order (CTO) for BlockchainK2 (BIDCF) revoked?

The Cease Trade Order for BlockchainK2 was revoked on May 14, 2025 after the company completed its required financial statements and documentation.

What is BlockchainK2's (BIDCF) current working capital situation?

As of March 31, 2025, BlockchainK2 has a working capital deficiency of $1,222,197, including $1,236,453 in accounts payable and $177,978 in short-term loans.

How does BlockchainK2 (BIDCF) plan to address its working capital deficiency?

BlockchainK2 plans to complete a private placement of common shares to improve its working capital position following the reinstatement of trading.

What marketing arrangements did BlockchainK2 (BIDCF) have with Orsus Consult?

BlockchainK2 engaged Orsus Consult GmbH for a six-month term starting April 1, 2024, paying 55,000 EUR upfront for online marketing, advertising, and analyst coverage. The contract has now expired.