eXeBlock Technology Corporation Announces Subscription Receipt Financing in Connection With Proposed Acquisition of Aitenders
Rhea-AI Summary
eXeBlock Technology (OTC:EXXBF) announced a non-brokered private placement of up to $2.4 million in subscription receipts at $0.5833 each, linked to its proposed acquisition of Aitenders. Proceeds will be held in escrow, with receipts converting into shares of Aitenders Technologies on escrow release.
The financing carries a 7% cash fee and 7% compensation warrants for the agent, a 24‑month warrant term, and a four‑month‑plus‑one‑day hold period. Shares remain halted pending the transaction.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- Concurrent financing of up to $2.4 million at $0.5833 per receipt
- Automatic conversion of subscription receipts into Resulting Issuer shares on escrow release
- Escrow structure protects subscribers if transaction conditions are not met
Negative
- Agent cash fee equal to 7% of proceeds raised
- Agent compensation warrants equal to 7% of subscribed receipts at $0.5833
- All securities from the financing subject to four-month-plus-one-day hold period
- Company shares currently halted from trading pending completion of the transaction
- Potential shareholder dilution from conversion of subscription receipts and compensation warrants
Halifax, Nova Scotia--(Newsfile Corp. - June 4, 2026) - eXeBlock Technology Corporation (CSE: XBLK.X) ("eXeBlock" or the "Company") is pleased to announce a non-brokered private placement of subscription receipts (the "Concurrent Financing") for aggregate gross proceeds of up to
The Concurrent Financing is being conducted in connection with the proposed share acquisition of Aitenders (the "Transaction"), announced on December 23, 2025. It is anticipated that the Transaction will constitute a "Fundamental Change" in accordance with Policy 8 - Fundamental Changes and Changes of Business of the Canadian Securities Exchange (the "Exchange"). All currency references herein are in Canadian currency unless otherwise specified.
Upon satisfaction of applicable escrow release conditions (the "Escrow Release Conditions"), including without limitation, satisfaction of all necessary conditions precedent to complete the Transaction, each Subscription Receipt will automatically convert into one common share of the Resulting Issuer, Aitenders Technologies Inc., (a "Share") for no further consideration and without any further action by the holders thereof.
The gross proceeds of the Concurrent Financing will be held in escrow by the subscription receipt agent pending satisfaction of the Escrow Release Conditions. In the event the Escrow Release Conditions are not satisfied or waived within the time period specified in the subscription receipt agreement, the gross proceeds of the Concurrent Financing will be returned to the subscribers in accordance with the terms of the Subscription Receipts.
To facilitate the Concurrent Financing, the Company has entered into an agreement with Numus Capital Corp., a registered Exempt Market Dealer, to act as agent for the Concurrent Financing. The Company has agreed to pay to the agent a cash fee equal to
The Concurrent Financing is subject to the receipt of all necessary approvals, including the approval of the Exchange, and all securities issued pursuant to the Concurrent Financing will be subject to a four-month and one day hold period.
Other Information and Updates
In accordance with Exchange Policy, the Company's shares are halted from trading and will remain halted until such time as determined by the Exchange, which, depending on the policies of the Exchange, may not occur until the completion of the Transaction.
The Company will provide further details in respect of the Transaction, in due course, by way of news releases.
About eXeBlock Technology Corporation
eXeBlock is listed on the Canadian Securities Exchange under the symbol "XBLK.X". eXeBlock is a technology company exploring new technology initiatives. eXeBlock has no current business operations.
For further information, please contact:
Ian Klassen President & CEO eXeBlock Technology Corporation
Ph: 604-899-0106.
All information contained in this news release with respect to eXeBlock and Aitenders was supplied by the parties, respectively, for inclusion herein, and eXeBlock and its respective directors and officers have relied on Aitenders for any information concerning such party.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. "United States" and "U.S. Person" are as defined in Regulation S under the U.S. Securities Act.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations (including negative and grammatical variations) of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information in this press release may include, without limitation, statements relating to: the completion of the Transaction and the timing thereof, the proposed business of the Resulting Issuer, the completion of the proposed Concurrent Financing and the use of proceeds therefrom, the proposed directors and officers of the Resulting Issuer, obtaining regulatory approvals for the Transaction, the completion of the Consolidation, the completion of the Name Change, shareholder and regulatory approvals, and future press releases and disclosure.
These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding market conditions, general economic factors, management's ability to manage and to operate the business and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of each of eXeBlock and Aitenders may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although each of eXeBlock and Aitenders believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, each of eXeBlock and Aitenders disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300022