NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, British Columbia, Dec. 20, 2017 — Global Remote Technologies Ltd. (“Global Remote” or the “Company”) (CSE:RGT), (OTCMKTS:RGTZF), (Frankfurt Stock Exchange:GR9) is pleased to announce that, further to its news release dated November 17, 2017, it has entered into a definitive agreement to acquire (the “Acquisition”) 1Linx Ltd. (“1Linx”), a New York based blockchain technology company with a highly successful proprietary blockchain authentication platform and a suite of blockchain security services. As a result of the transaction, 1Linx will be a wholly-owned subsidiary of Global Remote.In connection with the Acquisition, Global Remote will issue an aggregate of 6,000,000 common shares of the Company (“Common Shares”) to the former shareholders of 1Linx.“We are excited about joining the Global Remote team, where the company’s leadership and team of advisors will help grow the 1Linx practice in multiple blockchain areas”, said Aly Govani, Chief Executive Officer of 1Linx.1Linx operates four distinct business lines: operator look-up, customer look-up, IP information, and customer friendly user-experience. All four business lines offer transaction verification services backed by the 1Linx proprietary blockchain technology platform. “1Linx continues to protect consumers in the cryptocurrency space to prevent fraudulent transactions and drive a secure marketplace. 1linx authenticates millions of transactions a month with an exponential growth as mainstream customers enter the cryptocurrency marketplace.” 1Linx was founded in 2013 by veterans in the mobile space in order to leverage network data to serve as an authentication layer in blockchain transactions.Neil Stevenson-Moore, Chief Executive Officer of Global Remote, stated, “As we continue to evolve our client security services, we are extremely pleased to be acquiring a market leading blockchain platform. Combined with the recent additions of tech-security specialists Lonny McLean and Michael Shader, the incorporation of 1Linx into our technology infrastructure will allow us to drive significant value to all of our clients. Blockchain and crypto-security are going to be significant differentiators and disruptors in the coming years – and we have now positioned ourselves to lead this development opportunity. The continued development of blockchain technologies as both hardware and software solutions will be instrumental growth and profit drivers for our shareholders, and will continue to deliver excellent services and solutions for our clients.”The Acquisition is considered a fundamental change under the rules and policies of the Canadian Securities Exchange (the “CSE”) and, accordingly, remains subject to exchange approval. Trading of the Common Shares on the CSE has been halted in connection with the Acquisition and is not expected to resume until the CSE has approved certain documentation relating to the Acquisition, including a Form 2A Listing Statement (the “Listing Statement”) which is currently being prepared by the Company and 1Linx.All securities to be issued in connection with the Acquisition will be subject to a hold period expiring four months and one day after closing of the Acquisition.Private Placement FinancingThe Company is also pleased to announce that, in conjunction with the Acquisition, it intends to complete a private placement financing (the “Financing”) of up to 10,000,000 units (each, a “Unit”) of the Company at a price of $0.50 per Unit, each Unit consisting of one Common Share and one share purchase warrant (a “Warrant”), each Warrant entitling the holder thereof to purchase one Common Share at a price equal to $1.00 for a period of 60 months following closing of the Financing. All securities to be issued in connection with the Financing will be subject to a hold period expiring four months and one day after closing of the Financing. It is anticipated that certain current members of the Company’s board and management will participate in the private placement.The net proceeds of the Financing are proposed to be used for general working capital.Name ChangeIn connection with the closing of the Acquisition and subject to CSE approval of the Listing Statement, the Company intends to change its name to “Cryptobloc Technologies Corp.” and the symbol under which the Common Shares trade to “CRYP”.About Global Remote TechnologiesThe objective of Global Remote is to develop innovative and forward-looking technologies that improve business practices and reduce operational costs for its clients. The Company is constantly improving its product suite and is investing in blockchain, crypto-security, and crypto-currency systems that are revolutionizing the practices of Global Remote’s clients and partners in all industries. While Global Remote’s evolution began in the energy sector, with technology products developed for the oil and gas industry, Global Remote now continues its commitment to innovation through involvement in multiple markets.Global Remote operates in rugged locations around the globe, with offices in Canada, Mexico, Oman, and the United States. Global Remote Technologies is a public company, traded in Canada, U.S. and Germany under the symbols CSE: RGT, OTCMKTS:RGTZF and FRA: GR9.On behalf of the Board of Directors
Neil Stevenson-Moore, CEOFurther information about the Company is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and on its website, www.grtcse.com.Brian Biles
Website: www.grtcse.comForward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation. The forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including in regards to the expected benefits of the Company’s acquisition of 1Linx, completion of the Financing, CSE acceptance of the Listing Statement, completion of the Company’s name and symbol change, the Company’s ability to provide clients with cutting edge security and process development software and the hope that such offerings will increase its partner profit margins and decrease such partners’ liability. Although the Company’s management believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward- looking information because the Company cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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