Looking Glass Labs Ltd Looking Glass Labs Announces Withdrawal from AQSE
January 19 2024 - 2:00AM
UK Regulatory
TIDMNFXT
[image]
N E W S R E L E A S E
Looking Glass Labs Announces
Withdrawal from AQSE
Vancouver, British Columbia - 19 January 2024 / Globe Newswire / - Looking Glass
Labs Ltd. ("LGL" or the "Company") (NEO: NFTX) (AQSE: NFTX) (OTC: LGSLF) (FRA:
H1N) announces its intention to withdraw the Company's common shares ("Shares")
from the AQUIS Stock Exchange Growth Market ("AQSE").
Pursuant to the AQSE Access Rulebook, the Company is required to give 20
business days' notice of its intention to withdraw from trading on AQSE.
Therefore, trading in the Ordinary Shares will cease at 4:30 pm UK time on 15
February 2024.
The Shares will continue to trade in Canada on the Neo Exchange under "NFTX", in
the US on OTC under "LGSLF" and on the Frankfurt Stock Exchange under "H1N".
The Directors have taken this decision in light of the limited trading that has
taken place since the Company's admission to AQSE.
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in
accordance with the Company's obligations under Article 17 of MAR.
The Directors of Looking Glass Labs take responsibility for this announcement.
For further information, please contact:
James Henning, Director
Toll-Free: +1 833 LGL-NFTX (833-545-6389)
Email: info@lgl.io
Novum Securities Limited, AQSE Corporate Adviser
David Coffman/ George Duxberry
Tel: +44 (0)207 399 9400
ABOUT LOOKING GLASS LABS
Headquartered in Vancouver, British Columbia, Looking Glass Labs ("LGL")
specialises in consumer engagement applications to leverage immersive metaverse
environments, gamification and Web 3.0 / blockchain monetisation strategies.
Forward-Looking Information
This news release contains "forward-looking statements." Statements in this news
release that are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations, or intentions
regarding the future. Such forward-looking statements include, among other
things: the development of Pocket Dimension, the Company's goal to become the
leading digital studio specializing in NFT architecture, immersive metaverse
design and virtual asset display monetization streams; intention to build out a
portfolio of perpetual NFT royalty streams through collaborations, accretive
acquisitions and other arrangements, to potentially result in consistent, de
-risked and passive revenue; and the near-term projects and future projects.
The material assumptions supporting these forward-looking statements include,
among others, that: the Company could mitigate the risks associated with the
blockchain and NFT industry; the ability to compete with other businesses in the
NFT market; the availability of sufficient funding to carry out the Company's
business development plans; favourable market conditions; the ability of HoK to
sell all or substantially all of its product offerings; the market acceptance
for its products; and the ability to complete the development of Pocket
Dimension in a timely manner.
Although management considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect. These
forward-looking statements are only predictions and involve known and unknown
risks, uncertainties and other factors, including: the continued growth and
adoption of NFT and metaverse offerings by the consumer market; the cost of
developing and designing NFTs and metaverses is economically viable; the Company
being able to attract and retain a sufficient workforce with desired skillsets
to develop the Company's NFT and metaverse offerings; the availability of
offerings provided by third-parties in the NFT, metaverse development and online
gaming market to identify potential transactions; the increasing adoption of
NFTs as a solution for various online gaming, entertainment and collectible
uses; the Company having the ability to mitigate the risks associated with the
blockchain and NFT industry; and the ability to compete with other businesses in
the NFT, metaverse development, content creation and collectibles market.
Although management considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect. These
forward-looking statements are only predictions and involve known and unknown
risks, uncertainties and other factors, including: the risk that the Company's
offerings are not accepted by the consumer, the risk that other competitors may
offer similar digital offerings; the risk that there may be negative changes in
general economic and business conditions; the risk that the Company may have
negative operating cash flow and not enough capital to complete the development
of any of its technologies; the risk that the Company may not be able to obtain
additional financing as necessary; the risk that there may be increases in
capital and operating costs; the risk that the NFT technology may be subject to
fraud and other failures; the risk that there may be technological changes and
developments in the blockchain that make the NFT solutions obsolete; risks
relating to regulatory changes or actions which may impede the development or
operation of the blockchain solutions; the risk that other competitors may
release similar blockchain offerings; the potential future unviability of the
NFT market in general; the volatile cost of the amount of computational effort
required to execute specific operations on the blockchain, and other general
risks involved in the blockchain solutions.
Risks and uncertainties about the Company's business are more fully discussed in
the Company's disclosure materials, including its reports filed with the
Canadian securities regulators and which can be obtained from www.sedarplus.ca.
Any of these risks may cause the Company's actual results, levels of activity,
performance or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or implied by these
forward-looking statements. Further, although the Company has attempted to
identify factors that could cause actual results, levels of activity,
performance or achievements to differ materially from those described in forward
-looking statements, there may be other factors that cause results, levels of
activity, performance or achievements not to be as anticipated, estimated 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 could differ from those
projected in the forward-looking statements, except as required by applicable
law, including the securities laws of the United States and Canada. Although the
Company believes that any beliefs, plans, expectations and intentions contained
in this news release are reasonable, there can be no assurance that any such
beliefs, plans, expectations or intentions will prove to be accurate. The
Company does not assume any liability for disclosure relating to any other
company mentioned herein.
SOURCE: LOOKING GLASS LABS LTD.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/looking-glass-labs-ltd/r/looking-glass-labs-announces-withdrawal-from-aqse,c3912096
The following files are available for download:
https://news.cision.com/looking-glass-labs-ltd/i/3912096-0-png,c3258995 3912096_0.png
END
(END) Dow Jones Newswires
January 19, 2024 02:00 ET (07:00 GMT)