LONDON and AMSTERDAM, November 17, 2022 (GLOBE NEWSWIRE) — Blockmate Ventures Inc. (the “company“) (TSX.V:MATE) 8MH is pleased to announce that it has completed a non-brokered private placement (the “offer“) for gross proceeds of CAD$814,667 for general working capital. In connection with the closing of the Offering, the Company has 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 purchase one additional common share at a price of $0.075 through November 17, 2025 .

All securities issued in connection with the offering are subject to resale restrictions under applicable securities laws until March 18, 2023. The Company paid no finder’s fees or commissions in connection with the closing of the Offering.

The Company also announces that Justin Rosenberg has been appointed Chief Executive Officer of the Company. Mr. Rosenberg succeeds Dom Carosa, who will remain with the company as founder and managing director.

Mr. Rosenberg, who was appointed 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, as well as corporate advisory roles for publicly traded technology companies in Australia and Canada.

“It has been a pleasure working with Dom and the team over the past few months and I look forward to increasing my commitment as the new CEO,” said Rosenberg.

“For a company with a market cap of just CA$3M (US$2.3M), Blockmate has an excellent team of stakeholders and a great platform to build a meaningful business. We have a focused strategy to develop assets and secure partnerships to fund their asset-level growth, giving Blockmate upside potential without having to raise capital. For example, Blockmate’s self-service FX platform, midpoint.com, offers potential partners licenses in the UK, Canada and Hong Kong. Thank you to the board. ..