RE: Turkey site pictures update Twitter01 Apr 2021 13:24
Nothing to say this can’t go up a little bit with the low £20 million market cap...
In fact it is a dead cert that it will with the drilling campaign starting – those companies where things rather go to pieces when the drilling starts and maybe even drop on an oil strike are always ones who have a much much higher market cap than this.
They don’t have any relevance to aim share movements – of course there are exceptions to every rule – but that’s the basics: it’s all about news, MCAP And sentiment. Oh and who is running the company and what their motives are and what their competencies are.
Block Commodities is pleased to announce that the Company and Century Cobalt Corporation ("CCOB"), together the "Acquiring Parties", have entered into an option agreement to acquire a 70% interest (the "Acquisition") in a Medicinal Cannabis licence granted to Magnus Cannabis Group (Private) Limited ("Magnus") by the government of Zimbabwe. The Acquiring Parties will each hold 35%. CCOB is a publicly traded (OTCQB: CCOB) cobalt exploration and development company headquartered in Los Angeles, California. The stake in the Magnus licence, will secure supply of medicinal grade cannabis for the production of Nutraceuticals.
The option is for an exclusivity period of 90 days to complete the Acquisition. The proposed terms of the Acquisition are as follows:
• Payment of an Option fee of £50,000, to be apportioned equally between the Acquiring Parties, and
• Payment by BLCC of GBP 1.5m through the issue of 2,142,857,142 fully paid ordinary shares in BLCC (calculated at 0.07p per share) upon exercise of the option, and contemporaneously the payment by CCOB of GBP1.5m of CCOB fully paid ordinary shares price based on a 30day VWAP (using the US$:GB£ closing middle market exchange rate published by the Bloomberg on the day immediately prior to completion).
The Company is no longer pursuing the acquisition of Greenbelt Company Limited, pursuant to an option agreement date 27 March 2019, as the relevant Cannabis legislation is no longer under consideration by the Sierra Leone government.
The Directors of the Company accept responsibility for the content of this announcement.
For further information, please contact:
Block Commodities Limited Ian Tordoff 1 email@example.com
Aquis Exchange Corporate Adviser: First Sentinel Corporate Finance Limited +44 7876 888 011 Brian Stockbridge