Looking Glass Labs Admitted to Trading on the AQSE Growth Market in London, UK
TheCompany’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 Tradeon the NEO Exchange in Canada
Vancouver, BritishColumbia – November 14, 2022 / Cision / – Looking Glass Labs Ltd. (“LGL” or the“Company”) (NEO: NFTX) (OTC: LGSLF) (AQSE: NFTX) (FRA: H1N), a leading Web3 platformspecializing in non-fungible token (“NFT”) architecture, immersivemetaverse environments, play-to-earn tokenization and virtual asset royaltystreams, announces that it has completed its admission to the Access segment ofthe AQSE Growth Market (“AQSE”) and trading will commence at 8:00 A.M. GMTon Monday, November 14, 2022 ("Admission") under the ticker"NFTX". The Company's shares will also continue to trade on the NEO StockExchange in Canada.
Company Highlights:
· LGL’sleading brand, House of Kibaa ("HoK"), is designing and curatinga next-generation metaverse for 3D assets that allows functional art andcollectibles to exist simultaneously across different NFT blockchainenvironments;
· LGL’sAlpha version of its Pocket Dimension metaverse, a hyper-realistic digitalworld built using the latest version of Unreal Engine that offers users apremium virtual experience across 10 different environments, was released onNovember 1, 2022;
· LGLis currently developing a mobile game, Degen Area, which is aiming to be thefirst truly decentralized game that will integrate the art and audiences of manydifferent NFT projects and its launch is anticipated to be in mid-late 2023;
· TheCompany has also developed GenZeroes, which is a new multi-media franchise andis being developed in collaboration with several artists with work experiencethat includes projects for both the StarWars and Marvel franchises; and
· TheCompany has recently completed the acquisition of Web 3.0 Holdings Corp., whichis a Web3 focused technology company which owns a proprietary retail technologyplatform.
Management Commentary:
“It is a significant achievement to now be able to offer UK-based investorsthe ability to invest in LGL more easily and directly via its admission to the AQSEGrowth Market. AQSE is a great platformfor growing companies to access new investors,” said Dorian Banks, ChiefExecutive Officer at LGL. “Adding AQSE as a forum for the trading of our commonshares in addition to them being available on the NEO Exchange, OTC Market andFrankfurt Bourse is an example of how LGL is striving to bring the business ofNFTs and the metaverse to more people around the world,” added Mr. Banks.
The Company will have a dual listing with its common shares fullyfungible through a CREST Depositary Interest ("CDI"). The CDIs willcarry the same ISIN as the Common Shares listed in Canada on NEO. The issuedshare capital of LGL comprises 129,744,338 common shares.
Sector Classification:
The Company will be classified as an Information Technology company on AccessSegment of the Aquis Stock Exchange.
“This announcement, together with any documents incorporated byreference, shall be deemed to constitute an admission document for thepurposes of the AQSE Growth Market Rules for Issuers – Access. It has not beenapproved or reviewed by the Aquis Stock Exchange or the Financial ConductAuthority.”
The Directors of Looking Glass Labs take responsibility for thisannouncement
This announcement contains inside information for the purposes ofArticle 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 assetroyalty streams. Its leading brand, House of Kibaa (“HoK”), designs and curatesa next generation metaverse for 3D assets, which allows functional art andcollectibles to exist simultaneously across different NFT blockchain environments.HoK has successfully released digital assets to include GenZeroes, which soldout in just 37 minutes for total proceeds to LGL of CAD 6.2 million, inaddition 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 yearsof experience in the Canadian equity markets. Mr. Deffett began his career atRBC Capital Markets and has held senior positions in both sales and trading atvarious Canadian banks and independent dealers, most recently as ManagingDirector and Head of Institutional Sales at Laurentian Bank. He has extensiveexperience in capital raising, shareholder communication and capital marketsstrategy. Mr. Deffett is also the interim CEO and vice president of capitalmarkets of KetamineOne Capital Limited. Mr. Deffett graduated with a Bachelorof 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 FinancialAnalyst. He also holds a degree in Economics from Union College, inSchenectady, NY. Mr. O’Flaherty has several years of experience in financialservices, including public accounting and wealth management. He has worked fora recognized accounting firm and two recognized banking institutions.
Carl Chow, Non-Executive Director
Mr. Chow is a telecommunications Consultant, at Shaw Communicationsresponsible for designing, implementing, and upgrading cost-effectivetelecommunication 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 anInvestor Relations senior manager for NewAge Financing Limited, from 2006 until2009. His role and responsibilities were composed of liaising with start-upcompanies and locating strategic Venture Capital funding. Prior to thisposition he served as CEO and director of Meadow Springs, Inc. and as adirector of Lido Minerals Corp. (now Highlander Silver Corp.) Mr. Chow completeda diploma in Financial Management from the British Columbia Institution ofTechnology.
Senior Management:
Dorian Banks, Chief Executive Officer
Mr. Banks is an international serial entrepreneur, having started dozensof businesses in Europe, Africa, Asia and North and South America. For over 25years, he has primarily worked in the tech, agri-tech and blockchain sectors.Mr. Banks primarily works to identify up-and-coming trends, develop a businessmodel and turn the idea into a successful business. He has also consultedglobally on the sectors he has most expertise. Mr. Banks has served on over adozen public Boards and taken his own startups to the public markets such asMetroBridge Networks which he started as a one-man operation. He also has servedin larger corporations such as Chief Knowledge Officer of Voith GmbH inGermany. He continues as Managing Director of Design Build Research, anon-profit educating around sustainable building practices.
Francis Rowe, Chief Financial Officer
Mr. Rowe is a Chartered Professional Accountant and holds a Bachelor ofScience degree from the University of Northern British Columbia. He hasprovided accounting and tax services to a wide range of business and personalclients. In addition, he currently serves as a Director and Chief FinancialOfficer for several public and private entities.
Neil Stevenson-Moore, Chief Product Officer
A serial entrepreneur, Mr. Stevenson-Moore was the CEO and founder ofStylePixi, a retail technology company that leverages Artificial Intelligenceand advanced algorithms to disrupt the $25 trillion dollar retail market.Building off the success of StylePixi, Neil moved to London UK as he wasselected 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 iscurrently valued in excess of $1.5B. Neil has since co-founded and helped tobuild SportNinja into a fast-growing player in the $200B amateur sportsindustry. Mr. Stevenson-Moore brings a wealth of consumer engagement andmarketing experience to the Looking Glass team and will be instrumental indeveloping an exciting go to market strategy.
Forward-Looking Information
This news release contains “forward-looking statements.” Statements inthis news release that are not purely historical are forward-looking statementsand include any statements regarding beliefs, plans, expectations, orintentions regarding the future. Such forward-looking statements include, amongother things: the development of Pocket Dimension, the Company's goal to becomethe leading digital studio specializing in NFT architecture, immersivemetaverse design and virtual asset display monetization streams; intention tobuild out a portfolio of perpetual NFT royalty streams through collaborations,accretive acquisitions and other arrangements, to potentially result inconsistent, de-risked and passive revenue; and the near-term projects andfuture projects.
The material assumptions supporting these forward-looking statements include,among others, that: the Company could mitigate the risks associated with theblockchain and NFT industry; the ability to compete with other businesses inthe NFT market; the availability of sufficient funding to carry out theCompany's business development plans; favourable market conditions; the abilityof HoK to sell all or substantially all of its product offerings; the marketacceptance for its products; and the ability to complete the development ofPocket Dimension in a timely manner.
Although management considers these assumptions to be reasonable basedon information currently available to it, they may prove to be incorrect. Theseforward-looking statements are only predictions and involve known and unknownrisks, uncertainties and other factors, including: the continued growth andadoption of NFT and metaverse offerings by the consumer market; the cost ofdeveloping and designing NFTs and metaverses is economically viable; theCompany being able to attract and retain a sufficient workforce with desiredskillsets to develop the Company's NFT and metaverse offerings; theavailability of offerings provided by third-parties in the NFT, metaversedevelopment and online gaming market to identify potential transactions; theincreasing adoption of NFTs as a solution for various online gaming,entertainment and collectible uses; the Company having the ability to mitigatethe risks associated with the blockchain and NFT industry; and the ability tocompete with other businesses in the NFT, metaverse development, contentcreation and collectibles market.
Although management considers these assumptions to be reasonable basedon information currently available to it, they may prove to be incorrect. Theseforward-looking statements are only predictions and involve known and unknownrisks, uncertainties and other factors, including: the risk that the Company'sofferings are not accepted by the consumer, the risk that other competitors mayoffer similar digital offerings; the risk that there may be negative changes ingeneral economic and business conditions; the risk that the Company may havenegative operating cash flow and not enough capital to complete the developmentof any of its technologies; the risk that the Company may not be able to obtainadditional financing as necessary; the risk that there may be increases incapital and operating costs; the risk that the NFT technology may be subject tofraud and other failures; the risk that there may be technological changes anddevelopments in the blockchain that make the NFT solutions obsolete; risksrelating to regulatory changes or actions which may impede the development oroperation of the blockchain solutions; the risk that other competitors mayrelease similar blockchain offerings; the potential future unviability of theNFT market in general; the volatile cost of the amount of computational effortrequired to execute specific operations on the blockchain, and other generalrisks involved in the blockchain solutions.
Risks and uncertainties about the Company’s business are more fullydiscussed in the Company’s disclosure materials, including its reports filedwith the Canadian securities regulators and which can be obtained fromwww.sedar.com.
Any of these risks may cause the Company’s actual results, levels ofactivity, performance or achievements to be materially different from anyfuture results, levels of activity, performance or achievements expressed orimplied by these forward-looking statements. Further, although the Company hasattempted to identify factors that could cause actual results, levels ofactivity, performance or achievements to differ materially from those describedin 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 dateof this news release, and the Company assumes no obligation to update theforward-looking statements, or to update the reasons why actual results coulddiffer from those projected in the forward-looking statements, except asrequired by applicable law, including the securities laws of the United Statesand Canada. Although the Company believes that any beliefs, plans, expectationsand intentions contained in this news release are reasonable, there can be noassurance that any such beliefs, plans, expectations or intentions will proveto be accurate. The Company does not assume any liability for disclosurerelating to any other company mentioned herein.
SOURCE: LOOKING GLASS LABS LTD.