BLOK Technologies Inc. (CNSX:BLK) entered into a memorandum of understanding to acquire 80% stake in The Worx Solutions Inc. for CAD 0.73 million on November 27, 2018. Under the terms of the MOU, BLOK will issue 14 million common shares and a promissory note for CAD 0.24 million to acquire 80% of the issued and outstanding shares of WORX. Upon completion of the acquisition, BLOK will make best efforts to raise a minimum of CAD 0.3 million for the further development and marketing of the Businessworx software platform. Post-acquisition, WORX shall be operated as a subsidiary of BLOK. Also in connection with the completion proposed acquisition of WORX, BLOK has agreed to pay a finder’s fee to an arms-length third party, subject to receipt of regulatory approval. The Board will recruit and name new management for WORX. As part of the transaction, WORX will be provided one seat on the Board of Directors of BLOK. The acquisition is subject to completion of certain conditions, including approval by the Board of Directors of BLOK and WORX, completion of satisfactory due diligence, execution of a definitive agreement, receipt of all necessary shareholder and regulatory approvals, including the approval of the Canadian Securities Exchange (the “CSE”) and other conditions.