HyperBlock Technologies Corp. entered into a definitive arrangement agreement to acquire CryptoGlobal Corp. (TSXV:CPTO) for approximately CAD 110 million on April 3, 2018. Under the terms of agreement, HyperBlock will acquire all of the issued and outstanding common shares of CryptoGlobal by issuing 0.4229 of a common share of HyperBlock for each CryptoGlobal common share. Upon closing of the transaction, CryptoGlobal shareholders will own approximately 25.2% of the combined company. Post-closing, CryptoGlobal Corp. and HyperBlock Technologies Corp. will amalgamate to form Amalco. Amalco will be renamed as HyperBlock Technologies Corp. Sean Walsh, current HyperBlock Chief Executive Officer and Chief Executive Officer of the combined company will be the largest shareholder owning approximately 16.7% of the combined company. Rob Segal and James Millership will collectively own approximately 9.5% of the combined company. Pursuant to the transaction the parties will apply to list the combined company which will operate under the name HyperBlock Inc. on the Canadian Securities Exchange on closing. If the agreement is terminated in certain circumstances including if CryptoGlobal enters into a definitive agreement with respect to a superior proposal HyperBlock is entitled to a termination payment of CAD 4 million. Rob Segal, James Millershipm, Roozbeh Ebbadi, Jacob Shultis and Chris McGarrigle will also join the leadership team of the combined company. Dorsey & Whitney LLP acted as a legal advisor to HyperBlock Technologies Corp., The transaction is subject to the approval of shareholders of both CryptoGlobal and HyperBlock, approval of the transaction by the Ontario Superior Court of Justice, CryptoGlobal dissent rights shall not have exercised with respect to more than 5% of the issued and outstanding CryptoGlobal common shares, CryptoGlobal and its subsidiaries shall have CryptoGlobal cash of not less than CAD 4 million, execution of escrow agreements, execution of consulting agreements, resignation of CryptoGlobal’s directors, conditional listing approval of the combined company's common shares on the Canadian Securities Exchange, delisting of CryptoGlobal's common shares from the TSXV and satisfaction of customary closing conditions. The Board of Directors of each CryptoGlobal and HyperBlock has unanimously approved the transaction. On May 17, 2018, CryptoGlobal obtained an interim order from the Ontario Superior Court of Justice in respect to the acquisition. The special meeitng of CryptoGlobal shareholders to approve the transaction will held on June 22, 2018. An independent special committee of the Board of Directors of CryptoGlobal is formed to review the deal. On June 22, 2018, shareholders of HyperBlock and CryptoGlobal approved the transaction. As of June 27, 2018, the Ontario Superior Court of Justice (Commercial List) approved the merger. The transaction is expected to close no later than the end of the second quarter in 2018. The transaction is expected to be accretive to HyperBlock's cash flow over the next 12-month period. Canaccord Genuity Corp. acted as financial advisor and Michael Burkett, Evan Marcus, J.B. Elliott, Jon Lin, Billy Rosemberg, Tracey Thornton and Matthew Lee, Neil Shapiro and Khalfan Khalfan of Stikeman Elliott LLP acted as legal advisors to HyperBlock. Sander Grieve of Bennett Jones LLP acted as legal advisor to CryptoGlobal. Clarus Securities Inc. provided a fairness opinion to the independent special committee as well as Board of Directors of CryptoGlobal. Computershare Investor Services Inc. acted as the depository as well as transfer agent to CryptoGlobal. Eric Rauch of Bryan Cave Leighton Paisner LLP acted as legal advisor to HyperBlock Technologies Corp.