Looking Glass Labs Ltd Admission to Trading on AQSE
November 14 2022 - 02:00AM
UK Regulatory (RNS & others)
TIDMNFTX
LOOKING GLASS LABS LTD
N E W S R E L E A S E
Looking Glass Labs Admitted to Trading on the AQSE Growth Market in London, UK
The Company's Shares Will Commence Trading on AQSE at 8:00 AM GMT on Monday,
November 14 with the Ticker Symbol "NFTX", While Its Shares Will Continue to
Trade on the NEO Exchange in Canada
Vancouver, British Columbia - November 14, 2022 / Cision / - Looking Glass Labs
Ltd. ("LGL" or the "Company") (NEO: NFTX) (OTC: LGSLF) (AQSE: NFTX) (FRA: H1N),
a leading Web3 platform specializing in non-fungible token ("NFT")
architecture, immersive metaverse environments, play-to-earn tokenization and
virtual asset royalty streams, announces that it has completed its admission to
the Access segment of the AQSE Growth Market ("AQSE") and trading will commence
at 8:00 A.M. GMT on Monday, November 14, 2022 ("Admission") under the ticker
"NFTX". The Company's shares will also continue to trade on the NEO Stock
Exchange in Canada.
Company Highlights:
* LGL's leading brand, House of Kibaa ("HoK"), is designing and curating a
next-generation metaverse for 3D assets that allows functional art and
collectibles to exist simultaneously across different NFT blockchain
environments;
* LGL's Alpha version of its Pocket Dimension metaverse, a hyper-realistic
digital world built using the latest version of Unreal Engine that offers
users a premium virtual experience across 10 different environments, was
released on November 1, 2022;
* LGL is currently developing a mobile game, Degen Area, which is aiming to
be the first truly decentralized game that will integrate the art and
audiences of many different NFT projects and its launch is anticipated to
be in mid-late 2023;
* The Company has also developed GenZeroes, which is a new multi-media
franchise and is being developed in collaboration with several artists with
work experience that includes projects for both the StarWars and Marvel
franchises; and
* The Company has recently completed the acquisition of Web 3.0 Holdings
Corp., which is a Web3 focused technology company which owns a proprietary
retail technology platform.
Management Commentary:
"It is a significant achievement to now be able to offer UK-based investors the
ability to invest in LGL more easily and directly via its admission to the AQSE
Growth Market. AQSE is a great platform for growing companies to access new
investors," said Dorian Banks, Chief Executive Officer at LGL. "Adding AQSE as
a forum for the trading of our common shares in addition to them being
available on the NEO Exchange, OTC Market and Frankfurt Bourse is an example of
how LGL is striving to bring the business of NFTs and the metaverse to more
people around the world," added Mr. Banks.
The Company will have a dual listing with its common shares fully fungible
through a CREST Depositary Interest ("CDI"). The CDIs will carry the same ISIN
as the Common Shares listed in Canada on NEO. The issued share capital of LGL
comprises 129,744,338 common shares.
Sector Classification:
The Company will be classified as an Information Technology company on Access
Segment of the Aquis Stock Exchange.
"This announcement, together with any documents incorporated by reference,
shall be deemed to constitute an admission document for the purposes of the
AQSE Growth Market Rules for Issuers - Access. It has not been approved or
reviewed by the Aquis Stock Exchange or the Financial Conduct Authority."
The Directors of Looking Glass Labs take responsibility for this announcement
This announcement contains inside information for the purposes of Article 7 of
the Regulation (EU) No 596/2014 on market abuse
For further information, please contact:
Looking Glass Labs Ltd.
Dorian Banks, Chief Executive Officer
Tel: +1 833 545 6389
Email: info@lgl.io
Website: https://www.lgl.io/
Novum Securities Limited, AQSE corporate Advisor
David Coffman/ George Duxberry
Tel: +44 (0)207 399 9400
About Looking Glass Labs:
Headquartered in Vancouver, British Columbia, Looking Glass Labs ("LGL") is a
Web3 platform specializing in non-fungible token ("NFT") architecture,
immersive metaverse environments, play-to-earn tokenization and virtual asset
royalty streams. Its leading brand, House of Kibaa ("HoK"), designs and curates
a next generation metaverse for 3D assets, which allows functional art and
collectibles to exist simultaneously across different NFT blockchain
environments. HoK has successfully released digital assets to include
GenZeroes, which sold out in just 37 minutes for total proceeds to LGL of CAD
6.2 million, in addition to a perpetual 5% royalty stream on secondary market
sales.
To view LGL's current investor presentation, please visit https://www.lgl.io/
investors.
To join LGL's mailing list, please subscribe via the following link: https://
www.lgl.io/contact-us
Directors:
Adam Deffett, Non-Executive Director
Mr. Deffett is a senior capital markets professional with over 15 years of
experience in the Canadian equity markets. Mr. Deffett began his career at RBC
Capital Markets and has held senior positions in both sales and trading at
various Canadian banks and independent dealers, most recently as Managing
Director and Head of Institutional Sales at Laurentian Bank. He has extensive
experience in capital raising, shareholder communication and capital markets
strategy. Mr. Deffett is also the interim CEO and vice president of capital
markets of KetamineOne Capital Limited. Mr. Deffett graduated with a Bachelor
of Commerce from the University of Calgary and is a CFA Charterholder.
Patrick O'Flaherty, Non-Executive Director
Mr. O'Flaherty is a Chartered Accountant and a Chartered Financial Analyst. He
also holds a degree in Economics from Union College, in Schenectady, NY. Mr.
O'Flaherty has several years of experience in financial services, including
public accounting and wealth management. He has worked for a recognized
accounting firm and two recognized banking institutions.
Carl Chow, Non-Executive Director
Mr. Chow is a telecommunications Consultant, at Shaw Communications responsible
for designing, implementing, and upgrading cost-effective telecommunication
systems for both residential and commercial clientele. Mr. Chow served on the
board of directors for a Singapore domiciled company, Interact Investments
Inc., from 2010 to 2015. Mr. Chow held a position as an Investor Relations
senior manager for NewAge Financing Limited, from 2006 until 2009. His role and
responsibilities were composed of liaising with start-up companies and locating
strategic Venture Capital funding. Prior to this position he served as CEO and
director of Meadow Springs, Inc. and as a director of Lido Minerals Corp. (now
Highlander Silver Corp.) Mr. Chow completed a diploma in Financial Management
from the British Columbia Institution of Technology.
Senior Management:
Dorian Banks, Chief Executive Officer
Mr. Banks is an international serial entrepreneur, having started dozens of
businesses in Europe, Africa, Asia and North and South America. For over 25
years, he has primarily worked in the tech, agri-tech and blockchain sectors.
Mr. Banks primarily works to identify up-and-coming trends, develop a business
model and turn the idea into a successful business. He has also consulted
globally on the sectors he has most expertise. Mr. Banks has served on over a
dozen public Boards and taken his own startups to the public markets such as
MetroBridge Networks which he started as a one-man operation. He also has
served in larger corporations such as Chief Knowledge Officer of Voith GmbH in
Germany. He continues as Managing Director of Design Build Research, a
non-profit educating around sustainable building practices.
Francis Rowe, Chief Financial Officer
Mr. Rowe is a Chartered Professional Accountant and holds a Bachelor of Science
degree from the University of Northern British Columbia. He has provided
accounting and tax services to a wide range of business and personal clients.
In addition, he currently serves as a Director and Chief Financial Officer for
several public and private entities.
Neil Stevenson-Moore, Chief Product Officer
A serial entrepreneur, Mr. Stevenson-Moore was the CEO and founder of
StylePixi, a retail technology company that leverages Artificial Intelligence
and advanced algorithms to disrupt the $25 trillion dollar retail market.
Building off the success of StylePixi, Neil moved to London UK as he was
selected to be the head of online giant Farfetch's "Store of the Future".
Farfetch is recognized as a world leader in consumer retail technology and is
currently valued in excess of $1.5B. Neil has since co-founded and helped to
build SportNinja into a fast-growing player in the $200B amateur sports
industry. Mr. Stevenson-Moore brings a wealth of consumer engagement and
marketing experience to the Looking Glass team and will be instrumental in
developing an exciting go to market strategy.
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.sedar.com.
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.
END
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