LONDON and AMSTERDAM, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Blockmate Ventures Inc. (the “Company”) (TSX.V: MATE) (FSE: 8MH1) is pleased to announce that it has completed a non-brokered private placement (the “Offering”) for gross proceeds of CAD$814,667 for general working capital. In connection with completion of the Offering, the Company has issued 16,293,337 units (each, a “Unit”) at a price of $0.05 per Unit. Each “Unit” consists of one common share, and one common share purchase warrant exercisable to acquire a further common share at a price of $0.075 until November 17, 2025.

All securities issued in connection with the Offering are subject to restrictions on resale until March 18, 2023 in accordance with applicable securities laws. No finders’ fees or commissions were paid by the Company in connection with completion of the Offering.

The Company also announces that Justin Rosenberg has been appointed as Chief Executive Officer of the Company. Mr. Rosenberg takes over from Dom Carosa who will remain with the Company as Founder & Executive Director.

Mr Rosenberg, who was appointed as a Non-Executive Director of Blockmate in April 2022, brings to Blockmate more than 20 years of experience in corporate finance, M&A and venture capital and in corporate advisory roles for publicly listed tech companies in Australia and Canada.

“It has been a pleasure to work with Dom and the team over the past few months and I’m excited to increase my involvement as the new CEO,” said Rosenberg.

“For a company with a market cap of only CAD$3m (USD$2.3m), Blockmate has an outstanding team of stakeholders and a great platform to build a significant company. We have a focused strategy to develop assets and secure partnerships to fund their growth at the asset level, giving Blockmate upside without the requirement to raise capital. For example, Blockmate’s self-serve FX platform, midpoint.com, provides prospective partners with licencing in the UK, Canada and Hong Kong. Thank you to the Board for the opportunity.”

Major shareholder and Executive Director Dom Carosa added “We are excited to appoint Justin as CEO and help build the Blockmate business which I believe will translate into increased shareholder value in time.”

Blockchain World Ltd.

The Company also announces that following the launch of the website domains blockchain.com.au (Australia) and blockchain.eu (Europe) as announced November 2^nd, 2022 that it has successfully satisfied two of the previously established performance milestones (collectively, the “Milestones”) related to its acquisition of Blockchain World Ltd. (“BWL”). As a result of the satisfaction of the Milestones, the Company has issued 10,000,000 common shares (the “Performance Shares”) to the former shareholders of BWL as agreed at the time of purchase. The Performance Shares are subject to restrictions on resale until March 18, 2023 in accordance with applicable securities laws. For further information regarding the acquisition of BWL and the associated Milestones, readers are encouraged to review the news release issued by the Company on March 15, 2022.

Early Warning Disclosure

As a result of the satisfaction of the Milestones, Carosa Corporation B.V., a holding company controlled by Executive Director Domenic Carosa of Amsterdam, Netherlands, has acquired control and direction over an additional 6,150,000 common shares of the Company. The shares represent approximately 6.8% of the issued and outstanding common shares of the Company.

Following the acquisition, Mr. Carosa has control and direction over 12,648,000 common shares of the Company, representing approximately 14.1% of the issued and outstanding common shares of the Issuer, all of which are owned by Carosa Corporation B.V.

Mr. Carosa has acquired the securities for investment purposes and, as disclosed in the accompanying Early Warning Report, may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.

A copy of the Early Warning Report filed with the applicable securities regulators regarding the above acquisition will be available on SEDAR (www.sedar.com).

About Blockmate Ventures Inc.
Blockmate Ventures is a Web3 incubator/venture creator focussing on businesses that utilise blockchain technology and decentralization to provide greater utility, accessibility and sustainability around everyday services. Working with prospective Founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations, digital assets, and advisory to accelerate the incubation of projects towards monetization.

The leadership team at Blockmate Ventures have successfully founded successful tech companies from the Dotcom era through to the social media era and view Web3 technology as the vehicle for a democratised future. Learn more about being a Blockmate investor or partner: www.blockmate.com.

Blockmate welcomes investors to join the Company’s mailing list for the latest updates and industry research by subscribing at: https://www.blockmate.com/subscribe

ON BEHALF OF THE BOARD OF DIRECTORS

Dom Carosa (Executive Director)

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

Forward-Looking Information
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on the assumptions, expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Raindrop disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.