Looking Glass Labs Ltd LGL Grants Restricted Share Units

 
TIDMNFTX 
 
LOOKING GLASS LABS LTD. 
 
                            N E W S   R E L E A S E 
 
               Looking Glass Labs Grants Restricted Share Units 
 
Vancouver, British Columbia - January 30, 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 it has granted 3,010,000 restricted share units (the "RSUs") to certain 
directors, officers and a consultant of the Company. 
 
The RSUs have been granted accordingly: 
 
  * 500,000 RSUs to James Henning, Independent Director of the Company; 
  * 500,000 RSUs to Patrick O'Flaherty, Independent Director of the Company; 
  * 500,000 RSUs to Lucas Russell, Independent Director of the Company; 
  * 500,000 RSUs to Dorian Banks, Chief Executive Officer of the Company; 
  * 500,000 RSUs to Francis Rowe, Chief Financial Officer of the Company; and 
  * 510,000 RSUs to a consultant of the Company. 
 
The RSUs have a four-month hold period for directors and officers and vest 
immediately for the consultant of the Company. Each RSU can be redeemed for one 
common share of the Company. Therefore, up to 3,010,000 common shares of the 
Company shall be issued pursuant to the redemption of the RSUs. The RSUs are 
granted pursuant to the terms of the RSU Plan approved by the shareholders of 
the Company and are subject to the policies of the NEO Exchange Inc. 
 
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. 
 
                                   - Ends - 
 
The Directors of Looking Glass Labs take responsibility for this announcement. 
 
"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: [e-mail] 
 
Twitter: @LGL_io 
 
Website: https://www.lgl.io/ 
 
Novum Securities Limited, AQSE Corporate Adviser 
 
David Coffman/ George Duxberry 
 
Tel: [phone] 
 
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. 
 
1.   Details of the person discharging managerial responsibilities/ 
     person closely associated 
 
a)   Name:                              1. James Henning 
                                        2. Patrick O'Flaherty 
                                        3. Lucas Russell 
                                        4. Dorian Banks 
                                        5. Francis Rowe 
 
2.   Reason for the notification 
 
a)   Position/status:                   1. Independent Director 
                                        2. Independent Director 
                                        3. Independent Director 
                                        4. CEO 
                                        5. CFO 
 
b)   Initial notification/Amendment:   Initial notification 
 
3.   Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
 
a)   Name:                             Looking Glass Labs Ltd. 
 
b)   LEI:                              5493001GYD8RTZP6E887 
 
4.   Details of the transaction(s): section to be repeated for (i) 
     each type of instrument; (ii) each type of transaction; (iii) 
     each date; and (iv) each place where transactions have been 
     conducted 
 
a)   Description of the financial 
     instrument, type of instrument:   Restricted share units for 
                                       Ordinary shares 
     Identification code: 
                                       CA54342Q1063 
 
b)   Nature of the transaction: 

                                       Grant of Restricted share units 
 
c)   Price(s) and volume(s):           Price(s)      Volume(s) 
 
                                        1. n/a       500,000 
 
                                        1. n/a       500,000 
 
                                        1. n/a       500,000 
 
                                        1. n/a       500,000 
 
                                        1. n/a       500,000 
 
d)   Aggregated information: 
     · Aggregated volume:              2,500,000 
     · Price:                          n/a 
 
e)   Date of the transaction:          27 January 2023 
 
f)   Place of the transaction:         Outside of a trading venue 
 
 
 
END 
 
 

(END) Dow Jones Newswires

January 30, 2023 02:06 ET (07:06 GMT)