eXeBlock Technology Corporation, (CSE: XBLK) ('eXeBlock) listed on the Canadian Securities Exchange ('CSE') announces that it has entered into a Merger Agreement dated as of December 4, 2020 (the 'Definitive Agreement') with Nodalblock Canada Holdings Inc. ('Nodalblock') and eXeblock Technology Inc. ('eXeBlock Subco'), a wholly owned subsidiary of eXeBlock, pursuant to which eXeBlock will indirectly acquire all the issued and outstanding shares of Nodalblock, in a 'three-cornered' amalgamation which will result in a reverse takeover of eXeBlock (the 'Transaction').

During the Transaction Nodalblock will continue to federal jurisdiction and amalgamate with eXeBlock Subco and all the outstanding common shares of Nodalblock will be exchanged for common shares of eXeBlock on the basis of one post-Consolidation (as defined below) common share of eXeBlock for each one post-Split (as defined below) Nodalblock common share held and then cancelled. Upon completion of the Transaction, eXeBlock will, subject to corporate and CSE approval, change its name to 'Oaro Technology Corporation' or such other name as may be approved (the 'Resulting Issuer'). The Resulting Issuer will continue the business of Nodalblock.

About Nodalblock

Nodalblock is a private company formed under the laws of Nova Scotia and operating under the trademark OARO, it connects people to their identities and their information with digital security solutions for Global enterprises including elevated skin temperature screening, photo authentication, facial recognition, paperless ticketing, secure entry solutions and creation of inalterable records. Nodalblock operates in North America from its head office in Halifax Nova Scotia and in Europe through a wholly owned subsidiary incorporated in Spain, Nodalblock S.L. ('Nodalblock Subco') located in Madrid Spain. Nodalblock's list of customers includes international banks, insurance companies, airports, large manufacturers and the Canadian government.

About eXeBlock

eXeBlock, with its wholly owned subsidiary eXeBlock Subco, is a Company listed on the CSE. eXeBlock Subco is a Company incorporated under the federal laws of Canada. eXeBlock is a technology company exploring new technology initiatives.

About the Resulting Issuer

At the Effective Time of the Transaction Amalco will become a wholly owned subsidiary of the Resulting Issuer and Nodalblock Subco will become a wholly owned subsidiary of Amalco. The Resulting Issuer will be subject to the Business Corporations Act (British Columbia).

Contact:

Tel: 709-351-4429

Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of eXeBlock to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include the intention to complete the Transaction. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: satisfying conditions under the Definitive Agreement; satisfying the requirements of the CSE with respect to the Transaction; consumer interest in eXeBlock's services and products; competition; market conditions for the Concurrent Financing and anticipated and unanticipated costs. While eXeBlock anticipates that subsequent events and developments may cause its views to change, eXeBlock specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing eXeBlock's views as of any date subsequent to the date of this press release. Although eXeBlock has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect eXeBlock. Additional factors are noted under 'Risk Factors' in eXeBlock's Management's Discussion and Analysis for the quarter ended May 31, 2020, a copy of which may be obtained on the SEDAR website at www.sedar.com.

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