VANCOUVER, British Columbia, Jan. 27, 2020 (GLOBE NEWSWIRE) — BLOK Technologies Inc. (“BLOK Tech” or the “Company”) (CSE: BLK) (OTC:BLPFF) (FRANKFURT:2AD) is pleased to provide a corporate update on the Company’s reorganization efforts and overall development of business operations.
The Company continues to work diligently on its 2020 strategic plan. The emphasis has been redefined to focus and pursue projects with significant upside and attractive anticipated levels of return with limited risk. Management is currently reviewing several opportunities to expand with its VR Eyes Technology Corp (“VR Eyes”) acquisition in combination with making further M&A opportunities.
Management has recently taken measures to lower expenditures through various efforts, while continuing the growth of the VR Eyes business.
VR Eyes focuses on making eye exams more convenient and has developed diagnostic products that make detecting and diagnosing eye functions accessible for patients. VR Eyes plans on introducing their first product in the North America market first and then expanding to additional markets. The main focus is to make eye care more convenient so more people will have up-to-date annual eye checkups. VR Eyes is beginning to seek physicians, optometrists, and eye glass shops as goals for development. VR Eyes is happy with its beta model and will be looking to advance to further stages of development and distribution.
The Company has also begun the process of evaluating several underutilized cryptocurrency miners/farms and re-implementing them with economies of scale to create a profitable operation within the space.
“Bitcoin prices have recently had a sudden resurgence reaching highs of $11,800.00 CAD over the last month, which leads me to believe that with proper evaluation of these cryptocurrency operations, BLOK Tech could develop a business model with consolidation of these miners,” stated CFO and Director Wilson Su.
BLOK Tech will further reach out to private and publicly listed companies in the cryptocurrency space in an effort to joint venture and/or purchase equipment or unique technology that will lead to revenue. Upon targeting these companies, BLOK Tech will engage a consultant to conduct due diligence including an independent asset valuation and technical evaluation of the plan. In a space that has been recently challenging, we feel the valuations will be in our benefit, allowing ourselves to be positioned as a strong competitor.
The Company is excited and optimistic to move forward with 2020 strategic plan.
About BLOK Technologies Inc.
BLOK Technologies Inc. is a public company that invests in and develops companies in the blockchain and emerging technology sectors. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. BLOK Tech’s current portfolio includes Greenstream and VR Eyes Technology Corp. Greenstream is a technology platform designed to effectively manage value transfer, supply chain integrity and identity verification in complex and highly regulated industries. VR Eyes Technology Corp. is a new innovative company that is researching and developing technology for eye care and is focused on products that make detecting eye functions more convenient for the day to day user. The Company systematically identifies early-stage technologies with potential to disrupt and innovate within their industry and invests the necessary resources to ensure the success of their projects.
For additional information regarding BLOK Technologies and other corporate information, please visit the Company’s website at BLOKTECHINC.COM
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
“Wilson Su”
CFO & Director
For further information, please contact:
James Hyland, B.Comm
Interim President & CEO, Director
[email protected]
Tel: (604) 442-2425
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.
