Mehdi Mehrtash and Gordon Jessop File Early Warning Report

Dynamite Blockchain Corp. (CSE:KAS)

VANCOUVER, BRITISH COLUMBIA, CANADA, June 6, 2025 /EINPresswire.com/ -- Pursuant to the terms of a securities exchange agreement between Dynamite Blockchain Corp. (“Dynamite”) and Kaspa Secure Technologies Inc., completed on May 12, 2025 (the “Closing Date”), Messrs. Mehdi Mehrtash (“Mehrtash”) and Gordon Jessop (“Jessop”), have each acquired direct ownership of 39,000,000 common shares (the “Acquired Shares”) of Dynamite, for an aggregate total of 78,000,000 common shares (the “Acquisition”).

The Acquisition was completed in accordance with a securities exchange agreement dated March 11, 2025 (the “Purchase Agreement”) entered into by Mehrtash and Jessop with Dynamite. Under the terms of the Purchase Agreement, each party acquired 39,000,000 common shares of Dynamite at a price of $0.06 per share, for a total purchase price of $2,340,000 CAD each.

Immediately prior to the Acquisition, neither Mehrtash nor Jessop held any direct or indirect ownership of, or control over, common shares or any securities convertible into common shares of Dynamite. Both Mehrtash and Jessop are acting independently and are not in concert in respect of this transaction.

Following the Acquisition, Mehrtash and Jessop each hold 39,000,000 common shares, each representing 19.30% of Dynamite’s 202,014,600 current issued and outstanding common shares. Dynamite had 122,014,600 common shares issued and outstanding prior to, the completion of, the Acquisition.

The Acquired Shares are subject to resale restrictions which will expire on the later of: (i) four months and one day after issuance; and (ii) 10 trading days following the date on which the company files financial statements that reflect the financial position of the company and Kaspa Secure as a combined entity on a consolidated basis.

The Acquired Shares were purchased for investment purposes. Messrs. Mehrtash and Jessop may, from time to time, acquire additional securities of Dynamite or dispose of some or all of their holdings, depending on market conditions and other factors.

In accordance with applicable securities laws, each of Mehrtash and Jessop will file an early warning report (the “Early Warning Report”) in connection with the Acquisition. A copy of the Early Warning Report will be available under Dynamite’s SEDAR+ profile at www.sedarplus.ca.

Gordon Jessop
Cycurid Technologies Ltd.
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