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HyperBlock’s (OTC:CYXTF) CryptoGlobal acquisition clears legal hurdle

Tony Zerucha

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Cryptoglobal (TSXV: CPTO) (OTC:CYXTF) has been granted final court approval from the Ontario Superior Court of Justice (Commercial List) in connection with its proposed acquisition by HyperBlock.

“This is an important milestone in our journey to create a diversified crypto champion that will help people and businesses create, safeguard, manage and grow crypto,” said HyperBlock CEO Sean Walsh, who will lead the newly combined company.

Under the terms of the acquisition agreement, HyperBlock will acquire all of the common shares of Cryptoglobal by way of a court approved plan of arrangement under the Business Corporations Act (Ontario). All requisite shareholder approvals were received at the annual and special meeting of shareholders of Cryptoglobal and at the special meeting of shareholders of HyperBlock, each held on June 22, 2018.

Further details are set out in the joint management information circular of HyperBlock and Cryptoglobal dated May 22, 2018 and available under Cryptoglobal‘s issuer profile on SEDAR at www.sedar.com. Completion is subject to, among other things, receiving stock exchange approvals, and the satisfaction of other customary conditions for a transaction of this nature.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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