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Update On Progress Of Potential Business Combination With UK Crypto-Asset Brokerage Company

April 12th 2021

Update on progress of potential business combination with UK crypto-asset brokerage company, GlobalBlock Limited.

VANCOUVER, BC , April 12, 2021 /CNW/ - Helix Applications Inc. (TSXV: HELX) (the " Company " or " Helix ") continues to advance due diligence and progress exclusive negotiations with UK-based crypto-asset broker GlobalBlock Limited (" GlobalBlock "). The Company is pleased to announce that it has provided a £750,000 loan facility to GlobalBlock (the " Loan "), which should enable GlobalBlock to continue to expand its business.

Rufus Round , Helix CEO, said:

"Cryptocurrency markets have doubled to US$2 trillion so far in 2021 and this Loan should enable GlobalBlock to capitalize on this growth as it provides capital to targeted marketing and increased trading, and furthermore reflects the potential benefit to both Helix and GlobalBlock of a Potential Transaction."

David Thomas of GlobalBlock, added:

"This significant cash injection will allow us to accelerate growth through marketing exposure to the expanding UK interest in crypto-assets. Enhanced trading capacity along with our commitment to customer service will bolster and extend the lifetime value of our trading and investment community, while we seek to maximize return on investment."

As announced on March 8, 2021 , Helix and GlobalBlock have entered into a non-binding Memorandum of Understanding to work together exclusively for a period of time to negotiate a potential business combination (a " Potential Transaction "). The Loan funds are to be used by GlobalBlock to expand its business, specifically by increasing their trading capacity (including through its recently launched dedicated electronic trading platform) and by undertaking a targeted marketing campaign in the UK.

GlobalBlock, has been operational since 2017 as a crypto-asset broker that provides retail and institutional investors with a service driven solution to trade crypto-assets. GlobalBlock was founded by established London , City-based entrepreneurs who teamed up to bring a better, more transparent and cost-efficient alternative for trading crypto-assets to the marketplace.

The Loan is unsecured, matures after one year and bears interest at a rate of 10% per annum. The Loan also contains a conversion feature whereby Helix has the option to convert the outstanding loan into a 10% equity interest of GlobalBlock, in certain circumstances, such as GlobalBlock not repaying the Loan on the maturity date, or in the event of a change of control of GlobalBlock not involving Helix.

Should the parties be able to come to definitive terms on, and complete, a Potential Transaction, it would combine GlobalBlock's business with Helix's commitment to digital platforms. GlobalBlock and Helix are at arm's length. Globalblock has obtained temporary registration under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) as a crypto-asset firm, pending the determination of its formal application by the Financial Conduct Authority in the United Kingdom.

Investors are cautioned that there can be no assurance that a Potential Transaction will be completed as proposed, or at all. Trading in the securities of the Company should be considered highly speculative.


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