Looking Glass Labs Establishes New Global Corporate Headquarters in Vancouver

December 7, 2021

New Human Capital Additions to Accelerate Development of uNFTs, Metaverse Architecture, and Web 3.0 Infrastructure

Vancouver, British Columbia – December 7, 2021 / Globe Newswire / – Looking Glass Labs Ltd.  (“LGL” or the “Company”), a digital agency specializing in non-fungible tokens (“NFTs”) utility NFT  (“uNFT”) architecture, immersive extended reality (“XR”) metaverse design, and virtual asset royalty  streams, is pleased to announce that it has taken possession of its global corporate headquarters (the “HQ”)  located in Vancouver, Canada, from which LGL and its flagship studio, House of Kibaa (“HoK”), among  other future entities, will carry out operations. In accordance with the Company’s rapid growth, it is hiring  new employees in technical, creative, administrative, and executive roles in the Vancouver area. Current  vacancies are posted on LGL’s website at www.lgl.io and additional information can be found on the  Company’s LinkedIn profile at www.linkedin.com/company/looking-glass-labs/about/.  

As a multidisciplinary platform specializing in uNFT collections, metaverse architecture, and Web 3.0  infrastructure, LGL Management has identified the importance of maintaining a corporate headquarters in  which employees, clients, vendors, and strategic partners can collaborate in person, as appropriate. As the  cryptocurrency, blockchain, NFT, and metaverse markets continue to evolve at an unprecedented pace,  LGL’s view is that a creative workspace is key to developing a distinct corporate culture. Furthermore, the  HQ could be an invaluable catalyst for innovation and opportunity origination through collaboration.  

LGL intends to incorporate metaverse technologies into certain aspects of its HQ, thereby providing a  unique experience for Company staff and visitors alike, in addition to presenting opportunities for users to  trial the Company’s proprietary technologies and metaverse-enabled digital assets. LGL is also in the  process of vetting locations for satellite offices in various international locations known for their NFT 

savvy and metaverse-informed talent pools including, but not limited to, Los Angeles, New York City,  France, and Vietnam. The Company views human capital as a major competitive advantage in its industry  and is therefore aggressively pursuing the acquisition of the most talented personnel and companies around  the world.  

Management Commentary 

Dorian Banks, Chief Executive Officer of LGL commented, “Located in the centre of Canada’s technology  hub, our new global HQ is geared to accommodate more than fifty staff in product development, marketing,  and administration. On behalf of LGL and HoK, I welcome our current and future employees to our global  HQ and expect that the facility will inspire continued growth and innovation across our core verticals of  uNFT development and metaverse integration.” 

ABOUT LOOKING GLASS LABS 

Based in Vancouver, British Columbia, Looking Glass Labs is a digital agency specializing in non-fungible  token (“NFT”) architecture, immersive extended reality (“XR”) metaverse design, and virtual asset royalty  streams. Its leading brand, House of Kibaa (“HoK”), is a digital studio at the forefront of technologies in  the blockchain, NFT, and XR metaverse sectors. 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. 

On behalf of LOOKING GLASS LABS LTD. 

“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 

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 Company's goal to become the leading digital studio specializing in NFT architecture,  immersive metaverse design and virtual asset display monetization streams; and 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. 

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; and the ability to  compete with other businesses in the NFT 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 continued growth and  adoption of NFT and metaverse offerings by consumers; 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.