NEO List introduces investors to a unique company that is a digital platform specializing in NFT, uNFT architecture, immersive XR Metaverse design, and virtual asset ownership streams.
Vancouver, British ColumbiaAnd February 1, 2022 / cnw / – Looking Glass Labs Ltd. (“LGL” or “Company”) (NEO: NFTX), a digital platform that specializes in non-fungible tokens (“NFTs“), the NFT utility (“uNFTArchitecture, and Immersive Extended Reality (“)XR“) design the metaverse and virtual asset equity flows, to declare that its common stock (“)LGL . ShareTrading will begin on NEO Exchange Inc. (“)NEO”) under the symbol “NFTX” at the beginning of trading February 3, 2022. NEO is currently home to more than 170 unique public listings including public companies, listings of exchange-traded funds, and special purpose buyouts, among other types of entities, with approximately 15 percent of all Canadian trading volume consistently facilitating.1 In conjunction with its listing on NEO, LGL recently updated its website with new information about the company and its flagship studio, House of Kibaa, including but not limited to the current investor’s presentation, all of which can be viewed at https://www.lgl .io/.
In addition, as the listing on NEO completes, the company will pursue options to increase liquidity for its shareholders in Europe And United State. LGL also intends to submit an application to the Depository Trust Company (“LGL”).DTC“) that the Company’s ordinary shares be eligible for delivery and deposit services with DTC to facilitate electronic settlement of transfers of its ordinary shares in United State. Securities that qualify for electronic liquidation and settlement through a DTC are considered “DTC eligible.” This electronic method of liquidation of securities speeds up the receipt of shares and cash, thereby speeding up the settlement process for investors and significantly reduces transaction costs for participating brokerage firms.
Dorian BanksLGL CEO commented, “As a high profile exchange, NEO is expected to provide LGL with a high level of liquidity and exposure in order to enable our continued growth. We also expect that our listing on NEO will provide the opportunity to target and reach a wide range of institutional investors. and individual investors. Mr. Banks added: “On behalf of the Board of Directors and the company’s senior management team, I would like to thank our employees, shareholders and other stakeholders for their support along the way. Our team will continue to work to build the metaverse, UNFT organic clusters, develop 3D-ready NFT clusters for third-party clients, and benefit from NFT-based ownership flows and adding value to the company through appropriate corporate development opportunities.”
About Looking for Glass Labs
Headquartered in Vancouver, British ColumbiaLooking Glass Labs is a digital platform that specializes in non-fungible tokens (“NFTs“), the NFT utility (“uNFTArchitecture, and Immersive Extended Reality (“)XRmetaverse design, and virtual asset ownership flow. Its flagship brand, House of Kibaa (“Ho Chi Minh“), designs and organizes the next generation of the 3D asset metaverse, which allows functional arts and collectibles to co-exist across different NFT blockchain environments. HoK has successfully released digital assets to include GENESEROS, which sold out in just 37 minutes for the total proceeds of LGL of $6.2 million, plus permanent royalties of 5% on secondary market sales. HoK plans to launch a hyper-realistic metaverse based on Unreal 5 engine in 2022.
On behalf of the LOOKING GLASS LABS LTD.
Dorian Banks, chief executive officer
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Neither NEO Exchange nor the Regulatory Services Provider (as this term is defined in the NEO Exchange policies) accept responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking statements”. Statements in this non-historical press release are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among other things: the company’s goal of becoming the leading digital studio specializing in NFT architecture, immersive metaverse design and virtual asset offering monetization streams; and create a portfolio of permanent NFT revenue streams through synergies, cumulative acquisitions and other arrangements, which may result in consistent, risk-free and negative returns.
Material assumptions that support these forward-looking statements include, among others, the following: the company can mitigate risks associated with the blockchain and NFT industry; And the ability to compete with other companies in the NFT market.
Although management considers these assumptions reasonable based on the information currently available to it, they may be incorrect. These forward-looking statements are merely predictions and involve known and unknown risks, uncertainties and other factors, including: continued growth and adoption of the NFT and metaverse offerings by consumers; The cost of developing and designing NFTs and metaverses is economically feasible; The company’s ability to attract and retain an adequate workforce with the required skill sets to develop the company’s NFT and metaverse offerings; Availability of offers from third parties in the NFT, metaverse development and online game marketplace to identify potential transactions; The increasing reliance on NFTs as a solution to many online games, entertainment and collectible uses; The company has the ability to mitigate the risks associated with the blockchain and NFT industry; The ability to compete with other companies in the NFT, metaverse development, content creation and collectibles market; The risk that the Company’s offers will not be accepted by the consumer, and the risk that other competitors may present similar digital offers; the risk of negative changes in general economic and business conditions; The risk that the company may have negative operating cash flow and not have enough capital to complete the development of any of its technologies; the risk of the company not being able to obtain additional financing as necessary; risk of increases in capital and operating costs; risk of NFT fraud and other failures; The risk of changes and technological developments in the blockchain making NFT solutions obsolete; Risks related to regulatory changes or actions that may impede the development or operation of blockchain solutions; risk of other competitors issuing similar blockchain offerings; The potential future inability of the NFT market in general; The fluctuating cost of the amount of computational effort required to perform specific operations on the blockchain, and other general risks involved with blockchain solutions.
Risks and uncertainties about the Company’s business are fully discussed in the Company’s disclosure materials, including reports to Canadian Securities Regulators which can be obtained from www.sedar.com.
Any of these risks could cause the Company’s actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Furthermore, although the Company has attempted to identify factors that could cause actual results, activity levels, performance or achievements to differ materially from those shown in the forward-looking statements, there may be other factors that cause results, activity levels, performance or achievements Not as expected, intended, or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results may differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of United State And Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no guarantee that any such beliefs, plans, expectations or intentions will prove to be accurate. The Company assumes no responsibility for disclosure relating to any other company mentioned herein.
1. “About”, NEO exchange, access to Jan 31 2022, https://www.neo.inc/en/about.
SOURCE Looking Glass Labs Ltd.
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