Graph Blockchain Announces Closing of Non-Brokered Private Placement

Graph Blockchain Inc. (CSE: GBLC) (the "Company" or "Graph") is pleased to announce that further to its press release dated January 26, 2021 that it has closed the previously announced non-brokered private placement financing (the "Financing").


The Company completed the Financing through the offering of units of the Company (the "Financing Units") and raised aggregate gross proceeds in the amount of $2,316,000 through the issuance of 28,950,000 Financing Units at a price of $0.08 per Financing Unit. Each Financing Unit is comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant is exercisable into one Common Share at a price of $0.10 per Common Share for a period of eighteen (18) months from the issuance date, subject to the exercise of an acceleration right by the Company (the "Acceleration Right").


Pursuant to the Financing, an aggregate of $111,440 in finder's fees were paid and 1,393,000 compensation warrants (the "Finder's Warrants") were issued to certain finders in connection with the closing of the Financing. Each Finder's Warrant is exercisable into one Common Share at price of $0.10 per Common Share for a period of eighteen (18) months, subject to the exercise of the Acceleration Right.


The securities issued by the Company pursuant to the Financing have a four (4) month and one day hold period in accordance with Canadian securities laws.


The net proceeds from the Financing are intended to be used by the Company primarily to acquire additional miners, expand infrastructure through an investment in Babbage, marketing, and general working capital.


About Graph Blockchain Inc.


The Company is a blockchain development company that provides high performance blockchain solutions that include graphic data analysis and consulting services, implementation of data mining analysis through the use of graph databases and speed enhancements of blockchain control systems for businesses and government. This includes Babbage Mining Corp., a wholly-owned subsidiary of the Company, which will focus on Altcoins, alternative cryptocurrencies to Bitcoin. By mining Altcoins through Proof of Work and Proof of Stake, Babbage is able to give its investors exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that Altcoins represent.


Additional Information on the Company is available at www.graphblockchain.com and www.babbagemining.com


For further information, please contact: Jamie Hyland Phone :604.442.2425 Email: jamie@graphblockchain.com

NONE OF THE SECURITIES TO BE ISSUED PURSUANT TO THE TRANSACTION HAVE BEEN OR WILL BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND ANY SECURITIES ISSUED PURSUANT TO THE TRANSACTION ARE ANTICIPATED TO BE ISSUED IN RELIANCE UPON AVAILABLE EXEMPTIONS FROM SUCH REGISTRATION REQUIREMENTS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. In particular, forward-looking information in this press release includes, but is not limited to, the anticipated use of the proceeds by the Company from the Financing for purposes of acquiring additional miners, expanding its infrastructure, marketing, and working capital purposes. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things: the Company's ability to find acquisitions in the cryptocurrency mining space and management's ability to successfully develop and execute its strategy. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Risk factors include but are not limited to, business disruption risks relating to COVID-19; regulatory risks, including those related to cryptocurrency, alt-coins, Blockchain technology, privacy and data security; market volatility; and general industry risks associated with a nascent industry such as Blockchain technology. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaim any obligation to revise or update any such forward-looking information or to publicly announce, the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

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