Block Commodities Ltd: Cannabis Licence Acquisition update and Issue of Equity

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

18 June 2021

BLOCK COMMODITIES LIMITED

("Block Commodities", "BLCC" or the "Company")

Cannabis Licence Acquisition update and Issue of Equity

Cannabis Licence Acquisition

Further to the announcement on 16 March 2021, Block Commodities  is  pleased to announce that the Company and Century Cobalt Corporation ("CCOB"), together the "Acquiring Parties", have entered into an extension to the 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.

Under the extension agreement, the exclusivity period to complete the Acquisition is extended to 31 August 2021.

Issue of equity

The Company has allotted 366,143,567 new ordinary shares in settlement of creditors amounting to £77,395 ("New Ordinary Shares").

Admission to trading on AQSE

Application has been made for the 366,143,567 New Ordinary Shares to be admitted to trading on Aquis Stock Exchange ('Admission'). Admission is expected to occur at 8:00am on or around 22 June 2021.

Total Voting Rights

Following the allotment, the Company's issued share capital will comprise 7,728,601,417 ordinary shares, with each share carrying the right to one vote.

The above figure of 7,728,601,417 may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

The Directors of the Company accept responsibility for the content of this announcement.

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