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

Rhea-AI Summary

GlobalBlock Digital Asset Trading has announced the termination of its planned reverse takeover (RTO) transaction with RTC Merchants. The decision came after challenges in completing required financing due to turbulent market conditions.

In a significant management change, Rupert Williams is stepping down as CEO and director, with Angus Campbell appointed as the new Chief Executive Officer and director effective immediately. Campbell, who will lead the company's pursuit of new strategic transactions, brings extensive experience from London's financial sector, including roles in hedge funds, retail broking, and PR communications.

Campbell's background includes founding Nominis Advisory, a boutique PR firm, and serving as Director of TSX Venture Exchange listed Prestwick Capital Corporation. The company is now actively evaluating other acquisition opportunities to establish a new operating business.

Positive

• New CEO Angus Campbell brings extensive financial markets and PR experience
• Company actively pursuing new strategic acquisition opportunities

Negative

• Failed reverse takeover transaction with RTC Merchants due to financing challenges
• CEO Rupert Williams stepping down from role and board position
• Turbulent market conditions affecting company's ability to raise required financing
• Company currently lacks operating business

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

FAQ

Why did GlobalBlock (BLVDF) terminate its reverse takeover transaction with RTC Merchants?

GlobalBlock terminated the RTO due to challenging market conditions that made it impossible to complete the required concurrent financing within the deadline, even after an extension.

Who replaced Rupert Williams as CEO of GlobalBlock (BLVDF) in April 2025?

Angus Campbell was appointed as the new CEO of GlobalBlock, bringing experience from London hedge funds, retail broking, and PR communications through his firm Nominis Advisory.

What is GlobalBlock's (BLVDF) strategy after the failed RTO transaction?

GlobalBlock is currently evaluating other acquisition opportunities with the goal of acquiring or combining with a new operating business, led by new CEO Angus Campbell.

What experience does new GlobalBlock (BLVDF) CEO Angus Campbell bring to the company?

Angus Campbell brings experience from London hedge funds, retail broking, market analysis (Bloomberg, CNBC), PR communications, and previously served as Director of TSX Venture Exchange listed Prestwick Capital Corporation.

What are the trading symbols for GlobalBlock's stock?

GlobalBlock trades on multiple exchanges under the symbols BLOK.H (TSXV), BLVDF (OTC Pink), and BD4 (FSE).