On February 17, 2020, Blox, Inc. received notice from the Minister of Mines and Geology, Republic of Guinea, revoking the Company’s exploration license for its mineral property known as the Mansounia Gold Project. The exploration license, which was originally granted in August, 2013, was extended by the Company until December 26, 2019. Prior to the expiration of the exploration license, the Company successfully obtained technical approval of a feasibility study and $37,892,000 pre-production work proposal in completion of a mining license application process for the property which began in December, 2018. If granted, the license will confer the exclusive right to mine the property for a minimum of 15 years. As a pre-condition to the grant of the mining license, on January 6, 2020 the Minister of Mines and Geology requested the Company to provide evidence of a financing commitment in the amount of $4,741,000, being a 15% contingency reserve for a $33,151,000 work plan. On February 11, 2020, the Company formally requested 30 days to provide evidence of financing. As at the date of this report, the Company has been unable to secure the required financing commitment and the status of its mining license application is uncertain. The Company is requesting clarification from the Minister of Mines and Geology regarding the status of its application, and continues its efforts to identify and secure available financing. Until such time as a mining license is secured, all rights held by the Company and its partners in the Mansounia Gold Project are deemed terminated. There is no guarantee that the Company will succeed in obtaining the requisite financing commitment, that such commitment will be obtained in a timely manner, or that its mining license application will ultimately be successful.