Medigus to Form New Joint Venture
to Trade NFT Assets, Investing up to $5M
Medigus and
Safee's JV will engage in the
purchase and
sale of non-fungible
tokens and other digital
assets
Tel Aviv,
Israel -- October 28, 2021 -- InvestorsHub NewsWire
-- Medigus Ltd.
(Nasdaq:
MDGS), a technology company developing advanced medical
solutions, innovative internet technologies, and electric vehicle
and charging solutions, announced today that it has signed a
non-binding memorandum of understanding (MOU) with Safee, a
technology company focused on non-fungible tokens (NFTs). Per the
agreement, the parties will embark on a joint venture to trade and
monetize NFTs and other digital assets.
The JV will use Safee's knowledge
and platform to identify opportunities in the NFT field, and to
buy, hold and monetize NFTs. Medigus will help fund the
collaborative enterprise with a loan of up to $5 million for the
purchase of NFTs and other digital assets. Medigus will also hold
sway over management of the joint venture, appointing three of the
four members of its board of directors, retaining hiring and firing
rights of its CEO, and casting the decisive vote on budgetary and
business planning matters.
In exchange for furnishing
consulting services to the joint venture on the purchase and sale
of NFTs and other digital assets, the non-binding MOU offers Safee
an opportunity to buy Medigus stock. Over a period of three years,
Safee may exercise the option to buy 200,000 shares of Medigus at
the price of $10 per share.
Safee's mission is to expand the
reach of NFTs to mass market buyers and creators, digital artists,
illustrators, photographers, musicians, regular consumer digital
content creators and more. Safee's social network allows creators
and collectors to easily create, own, use, control and trade
digital goods.
About
Medigus
Based in Israel, Medigus Ltd.
(Nasdaq:
MDGS) is a technology company focused on innovative growth
partnerships, mainly in advanced medical solutions, digital
commerce and electric vehicle markets. Medigus' affiliations in the
medical solutions arena include ownership in ScoutCam Inc. and
Polyzion Ltd. The Company's affiliates in digital commerce include
Gix Internet Ltd., Jeff's Brands Ltd. and Eventer Technologies Ltd.
In the electric vehicle market, Charging Robotics Ltd. and Revoltz
are also part of the Company's portfolio of technology solution
providers. To learn more about Medigus' advanced technologies,
please visit http://www.medigus.com/.
Forward-Looking
Statements
This press release contains
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995
and other Federal securities laws. Words such as "expects,"
"anticipates," "intends," "plans," "believes," "seeks," "estimates"
and similar expressions or variations of such words are intended to
identify forward-looking statements. For example, Medigus uses
forward-looking statements in this press release when it suggests
the potential for the investment in Safee may or will lead to
profitable growth in the future. Because such statements deal with
future events and are based on Medigus' current expectations, they
are subject to various risks and uncertainties, and actual results,
performance or achievements of Medigus could differ materially from
those described in or implied by the statements in this press
release.
The forward-looking statements
contained or implied in this press release are subject to other
risks and uncertainties, including those discussed in any filings
with the Securities and Exchange Commission ("SEC"). Except as
otherwise required by law, Medigus undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. References and
links to websites have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release. Medigus is not responsible for
the contents of third-party websites.
Company
Contact:
Tali Dinar
Chief Financial Officer
+972-8-6466-880
ir@medigus.com
Investor Relations
Contact:
Miri Segal
CEO
MS-IR LLC
+1-917-607-8654
msegal@ms-ir.com