VANCOUVER, BC, CANADA (February 28, 2018) – 360 Blockchain Inc. ("360" or the "Company") (CSE: CODE – FWB: C5B – OTC: BKLLF) announces that it has closed its previously announced financing with the issuance of 40,999,500 units at $0.10 per unit for gross proceeds of $4.099,950.
Each unit consists of one share and one warrant, each warrant entitling the holder to subscribe for one additional share for $0.15 for a period of 2 years, with the Company retaining the right to accelerate the expiry date if shares of the Company trade at $0.30 or above for 10 trading days. Proceeds will be used for working capital and potential business investments
The Company paid qualified investors a total of $297,836 and issued 2,978,836 finder’s warrants on the same terms as the warrants issued as part of the units. Securities issued pursuant to this closing are subject to a 4 month trading restriction until May 29, 2018.