08:38:53 EDT Mon 24 Jun 2024
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or Name

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Looking Glass Labs Ltd (2)
Symbol NFTX
Shares Issued 148,937,668
Close 2023-10-05 C$ 0.005
Market Cap C$ 744,688
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Looking Glass receives NEO approval for 1:75 rollback

2023-10-06 16:07 ET - News Release

Mr. Dorian Banks reports


Further to Looking Glass Labs Ltd.'s new release dated Sept. 27, 2023, it has received NEO Exchange Inc., operating as Cboe Canada, approval to consolidate all of the company's issued and outstanding common shares on the basis of one postconsolidation common share for each 75 preconsolidation common shares.

The effective date and trading of the common shares on a postconsolidation basis on NEO Exchange is Oct. 6, 2023. The company's name and trading symbol will remain unchanged. The new Cusip number will be 54342Q205 and the ISIN number will be CA54342Q2053.

The consolidation will result in the number of issued and outstanding common shares being reduced from 148,937,668 preconsolidation common shares to 1,985,764 postconsolidation common shares of no par value. The exercise or conversion price of warrants and stock options, and the number of common shares issuable thereunder will also be proportionately adjusted upon the completion of the consolidation.

The figure of 1,985,764 should be used by shareholders in the company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

No fractional shares will be issued as a result of the consolidation. All fractions of common shares will be rounded down to the next lowest whole number. No cash consideration will be paid in respect of fractional shares.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of United Kingdom 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.

The directors of Looking Glass Labs take responsibility for this announcement.

About Looking Glass Labs Ltd.

Headquartered in Vancouver, B.C., Looking Glass Labs (LGL) specializes in consumer engagement applications to leverage immersive metaverse environments, gamification and Web 3.0/blockchain monetisation strategies.

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