Looking Glass Labs Ltd Board Changes
January 26 2023 - 2:00AM
UK Regulatory
TIDMNFTX
LOOKING GLASS LABS LTD.
N E W S R E L E A S E
LGL Announces Change to Board of Directors
Vancouver, British Columbia - January 26, 2023 / Cision / - Looking Glass Labs
Ltd. ("LGL" or the "Company���) (NEO: NFTX) (AQSE: NFTX)
(OTC: LGSLF) (FRA: H1N), a leading Web3 platform specialising in immersive
metaverse environments, play-to-earn tokenisation and blockchain monetisation
strategies, announces that Adam Deffett has resigned from its Board of
Directors to pursue other endeavours. The Board thanks Mr. Deffett for his
service to the Company during his tenure as an in dependent Director. In his
place, LGL announces that James Henning has been appointed as an independent
Director to the Board effective today.
As a Chartered Accountant, Mr. Henning has been the Founder and President of
Corpfinance Advisors Inc. since 1984. James is an expert with practical
experience in valuating businesses in a broad range of industries and he has
assisted companies with financings, public offerings and restructurings. His
areas of expertise include the retail cannabis, manufacturing,
telecommunications, software, biomedical, oil and gas services as well as
renewable energy industries. Mr. Henning has served as a Chief Financial
Officer and Director for a number of companies listed on the TSX Venture
Exchange and the Canadian Securities Exchange over the past several years.
Mr. Henning currently does not own any Common Shares of the Company.
Current Directorships Former Directorships and/or
partnerships (within the last five
years)
Corpfinance Advisors Inc. Wellbeing Digital Sciences Inc.
Glacier Capital Corp. I3 Interactive Gaming Technology
Corp.
DeepMarkit Corp.
Major Precious Metals Corp.
Except as set out above, there is no further information regarding James
Henning that is required to be disclosed pursuant to Rule 4.9 of the AQSE
Growth Market Access Rulebook.
The Directors of Looking Glass Labs take responsibility for this announcement.
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.
"Dorian Banks"
Dorian Banks, Chief Executive Officer
Twitter: @DorianBanks
For further information, please contact:
Dorian Banks
Toll-Free: +1 833 LGL-NFTX (833-545-6389)
Email: info@lgl.io
Twitter: @LGL_io
Website: https://www.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") is a
leading Web3 platform specialising in immersive metaverse environments,
play-to-earn tokenisation and blockchain monetisation strategies. 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.
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 continued development of Pocket Dimension, development of immersive
metaverse environments, play-to-earn tokenization and blockchain monetization
strategies; pursuing partnerships to monetize blockchain and Web3
opportunities; 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; and the
market acceptance for its products.
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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January 26, 2023 02:00 ET (07:00 GMT)
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