Wade Dawe News Release Related to Acquisition of Common Shares of eXeBlock Technology Corporation

Rhea-AI Summary

Wade Dawe has acquired 4,000,000 common shares and 4,000,000 common share purchase warrants of eXeBlock Technology (EXXBF) through a private placement on January 7, 2025. The warrants have an exercise price of $0.06 and expire on January 7, 2027.

Prior to this acquisition, Dawe owned 6,173,100 shares directly and indirectly through Brigus Capital and Kelligrew. Following the purchase, his total holdings increased to 10,173,100 common shares, representing approximately 13.47% of eXeBlock's 75,529,031 outstanding shares. On a partially diluted basis, his ownership stands at 17.82%.

The acquisition was made for investment purposes, and Dawe may adjust his investment position based on market conditions or other factors.

Positive

• Significant insider investment shows confidence in company
• Large warrant position with 2-year exercise window at $0.06
• Substantial increase in ownership stake from single investor

Negative

• Potential share dilution if warrants are exercised
• Single investor gaining significant control (17.82% on partially diluted basis)

Halifax, Nova Scotia--(Newsfile Corp. - January 8, 2025) - Wade Dawe has filed an early warning report announcing that, on January 7, 2025, he acquired an additional 4,000,000 common shares and 4,000,000 common share purchase warrants of eXeBlock Technology Corporation ("eXeBlock") in a private placement financing. Each warrant has an exercise price of $0.06 and expires on January 7, 2027. Prior to acquiring these additional common shares, Mr. Dawe owned 6,173,100 common shares directly and indirectly through Brigus Capital Inc. and Kelligrew Inc., companies controlled by Mr. Dawe.

Upon purchase of these additional common shares, Mr. Dawe directly and indirectly holds 10,173,100 common shares of eXeBlock, representing approximately 13.47% of the 75,529,031 issued and outstanding common shares of eXeBlock. On a partially diluted basis, Mr. Dawe owns 17.82% of the outstanding shares.

The common shares of eXeBlock were acquired for investment purposes. Mr. Dawe may increase or decrease his investment in eXeBlock depending upon future market conditions or any other relevant factors.

This news release is being issued as required by National Instrument 62-103 — The Early Warning System and Related TakeOver Bid and Insider Reporting Issues in connection with the filing of an Early Warning Report dated January 8, 2025. The Early Warning Report respecting this acquisition has been filed on SEDAR+.

For further information, please contact:

Mr. Wade Dawe
(902) 422-1421
2001-1969 Upper Water Street,
Halifax, NS B3J 3R7

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236429

FAQ

How many shares did Wade Dawe acquire in eXeBlock (EXXBF) on January 7, 2025?

Wade Dawe acquired 4,000,000 common shares and 4,000,000 common share purchase warrants of eXeBlock Technology on January 7, 2025.

What is Wade Dawe's total ownership percentage in eXeBlock (EXXBF) after the January 2025 acquisition?

After the acquisition, Wade Dawe owns 13.47% of eXeBlock's outstanding shares, and 17.82% on a partially diluted basis if all warrants are exercised.

What are the terms of the EXXBF warrants acquired in January 2025?

The warrants have an exercise price of $0.06 per share and expire on January 7, 2027.

How many total shares does Wade Dawe own in eXeBlock (EXXBF) after the January 2025 purchase?

Wade Dawe owns 10,173,100 common shares of eXeBlock directly and indirectly through his controlled companies.