NFT Tech Announces Up to $1,000,000 Private Placement
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VANCOUVER, British Columbia–( BUSINESS WIRE )–
NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO | OTCQB: NFTFF) (“NFT Tech” or the “Company”), a leading technology company that partners with top-tier brands to accelerate their entry into the web3 world through innovative technologies and unparalleled creativity, following the completion of the acquisition of Run It Wild by NFT Tech on February 23, 2023, is pleased to announce a non-mediated private placement (“Private Placement”) of up to 20,000,000 units of the Company (“Units”) at a price of $0.05 per unit (the “Issue Price”) for gross proceeds of up to $1,000,000. Each share will consist of one common share (each a “common share”) in the company and half of one purchase right (each whole warrant, a “warrant”). Each whole warrant is exercisable into one common share at the price of $0.10 per share (the “Warrant Share Price” for a period of six months after the closing of the private placement.
The net proceeds from the private placement will be used to finance the company’s general labor requirements. The Private Placement is subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals including approval by the NEO Exchange. All securities to be issued pursuant to the private placement will have a holding period of four months and one day from the closing of the private placement.
The company has also today announced the appointment of Mark Leung as new CFO. Mark has taken over the role from Frank Guo. Mr. Leung will be responsible for leading the finance team, reporting and monitoring the company’s revenue growth plans in 2023 and beyond.
About NFT Tech
NFT Tech builds products that accelerate web3 adoption by adding value to digital assets. The company’s technology is designed to increase consumer engagement, enable ownership of digital assets and discover new business models, making NFT Tech a trusted partner for global brands across many industries, including sports, entertainment and arts. NFT Tech’s award-winning studio is the recipient of the first ever Cannes Lion for an NFT activation, one of the most respected and renowned awards in the industry.
NFT Tech is publicly listed on the NEO exchange under the symbol NFT and on OCTQB under the symbol NFTFF. By bridging the gap between traditional capital markets and the web3 space, NFT Tech is mainstreaming the new era of the internet while bringing insights and benefits to the public markets.
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Warning regarding forward-looking information
This press release contains certain forward-looking statements within the meaning of applicable securities legislation with respect to the Company. These forward-looking statements are generally identified by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”. ,” “can,” “should,” “will,” “would” and similar expressions. Forward-looking statements in this press release include benefits realized from the agreement; expansion of the Company’s NFT development and product offerings; potential benefits and requirements for NFT projects directly to consumers; potential benefits, development and acceptance of web3 and related applications; plans to accelerate growth; and continued public acceptance of NFTs. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, the forward-looking statements and information should not be relied upon because the company can give no assurance that they will prove to be correct. Since forward-looking statements and information deal with future events and conditions, they involve inherent risks and uncertainties. Many factors may lead to actual future events deviating significantly from the forward-looking statements in this press release the matter, including, without limitation, the risk factors described in the prospectus. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this press release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable laws.
No securities supervisory authority has either approved or rejected the content of this press release. Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its content.
This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the US Securities Act of 1933 (“US Securities Act”) or any state securities laws and may not be offered or sold in the United States or to Persons in the United States (as defined in Regulation S under the US Securities Act) unless they are registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
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Wayne Lloyd
Executive Chairman
[email protected]
+1 (604) 800-5838
Source: NFT Technologies Inc.
