Vancouver, British Columbia (March 10, 2022) – Ocean Falls Blockchain Corp. (“OFB” or the “Company”) is pleased to announce that SuretyBlock, a subsidiary of OFB, has signed a fronting agreement with Fortress Insurance, a western Canadian insurance provider. This fronting agreement enables SuretyBlock, a DeFi-based (decentralized finance) captive insurance solution, to enlist and serve trade associations, organizations, and event organizers across western Canada.

The first decentralized product from SuretyBlock called Eagle1 is a hole-in-one insurance platform for the golf industry that makes it easier, quicker, and more efficient for hole-in-one prizes to be obtained and issued on golf courses, and in some cases, driving ranges.

Eagle1 is slated for launch in April 2022. It has been specifically designed to support golf associations, golf courses, and tournament organizers with unique and custom hole-in-one prize pools and payouts.

“A company as well-established in the Canadian market as Fortress Insurance coming on to support our project is a major achievement,” said Kevin Day, President of SuretyBlock and the CTO at Ocean Falls Blockchain Corp. “This makes serving customers from British Columbia to Manitoba a reality. We’re excited for the future of SuretyBlock and the new captive insurance opportunities made possible by today’s emerging technologies.”

A captive insurer is an insurance company wholly owned and controlled by its insureds. SuretyBlock aims to provide trade associations, organizations, and event organizers the option to insure themselves against a variety of liabilities using the power of blockchain technology to pool and distribute funds.

“Fortress has a long-standing goal to collaborate with, and explore, new insurance product niches and insurance programs,” said Shafeen Mawani, President and CEO of Fortress Insurance. “The concept and technological framework of SuretyBlock is something new and exciting and we’re happy to explore this adventure with their team.”

Fortress Insurance is licensed to offer insurance in British Columbia, Alberta, Saskatchewan, and Manitoba. The organization was formed in 2004 as an Alberta-registered and regulated insurance company that exclusively provided third-party automobile liability coverage in the rental car and airport services business in Calgary.

About Fortress Insurance

Fortress Insurance is a digital-first insurer operating since 2004. Fortress works exclusively with independent insurance brokers in western Canada striving to build strong, trustworthy, and long-lasting relationships. Fortress Insurance is supported by global insurance providers with an A+ AM Best and A+ S&P credit rating. Visit fortressinsurance.ca for further information.

About SuretyBlock

SuretyBlock is a decentralized solution for captive insurance providers. It is a wholly-owned subsidiary of Ocean Falls Blockchain Corp.Ocean Falls is a Canadian blockchain technology company that operates a 2MW-plus, clean energy-powered cryptocurrency mining farm in historic Ocean Falls, B.C. Visit oceanfalls.com for further information on OFB.

For further information, please contact:

[email protected]

Forward Looking Statements

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws. These statements are based upon information currently available to OFB’s management. All information that is not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements may be identified by the use of terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should”. Forward-looking statements contained in this news release are based on certain factors and assumptions made by the management of OFB based on their current expectations, estimates, projections, assumptions, and beliefs regarding their business and OFB does not provide any assurance that actual results will meet management’s expectations. While management considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Such forward-looking statements are not guarantees of future events or performance and by their nature involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although OFB has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, other factors may cause actions, events, or results to be different than anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking information. OFB does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws.