Metasphere Labs Inc N.NFTX

new hire

[thearab]

Looking Glass Labs Appoints Tom Sweeney
to Strategic Advisory Board
 

The Company Expects to Benefit from Mr. Sweeney’s Over 25 Years of Expertise
in Technology, Cross-Border Fund Management and Corporate Strategy

 
Vancouver, British Columbia – April 14, 2022 / Cision / – Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (FRA: H1N), a leading Web3 platform specializing in non-fungible token (“NFT”) architecture, immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams, is pleased to announce that its has appointed Tom Sweeney to its strategic advisory board (the “Advisory Board”). Mr. Sweeney is a seasoned executive with over 25 years of experience in cross-border technology investing, fund management and corporate strategy, Mr. Sweeney is the Founder and current CEO of Jun Capital Management, a crypto investment and strategic advisory firm, and the Chief Operating Officer & Co-Founder of the Unizen Smart CeDeFi Platform (www.unizen.io).

Mr. Sweeney was previously the General Manager and Partner of Iris Capital Management MENA (the Dubai-based fund manager of STC Ventures, whose anchor investor is the Saudi Telecom Company), in addition to holding several advisory and management positions with major Saudi firms to include the King Abdulaziz City for Science and Technology, SABIC Ventures (the globally active venture capital arm of the Saudi Basic Industries Corporation) and Taqnia (the Kingdom’s sovereign technology investment unit). Additionally, Mr. Sweeney helped to influence Canadian taxation laws in favour of facilitating cross-border VC investing between Canada and the United States. 

Commentary

Regarding his appointment to LGL’s Advisory Board, Tom Sweeney commented, “LGL has made great strides to date in the rapidly growing areas of NFTs, the metaverse, and P2E gaming technologies, which are steadily being adopted by industry leaders, governments and institutions across the world. I believe my expertise and connections align strongly with LGL’s business objectives as it ambitiously seeks to attain early-mover positions in a variety of high growth areas of the Web3 ecosystem. In 2022, macro-level interest in these technologies is heightening, and I look forward to working directly with LGL to shape their offerings in a way that aligns with the needs and the priorities of major global businesses and investors.”

Dorian Banks, Chief Executive Officer of LGL, added, “I would like to welcome Mr. Sweeney to our Advisory Board. Our team looks forward to learning from his expertise as well as fostering a mutual beneficial relationship. LGL has a bright future, especially with our Pocket Dimensions land sale scheduled for April 16-17, which currently has an oversubscribed indicated purchase list for the private sale. Tom is a complementary addition to our growing Advisory Board that now includes the perspectives of a diverse and accomplished group of professionals.”

Issuance of Options and RSUs

The Company announces that it has granted 50,000 incentive purchase options to Mr. Sweeney. Each share purchase option is exercisable for a period of two years at an exercise price of CAD 0.75 per common share of the Company. The options vest after four months from the grant date.

The Company is also announcing that pursuant to its shareholder approved restricted share unit plan (the “RSU Plan“), it has granted an aggregate of 5,925,000 restricted share units (“RSUs”) to directors, officers and consultants (the “Eligible Parties”) of the Company. The RSUs that have been granted to directors of the Company will vest over a period of 18 months. Of the aggregate RSUs granted, 25,000 RSUs have been granted to Meadowbank Holdings Inc. ("Meadowbank"). As previously announced by the Company on October 24, 2021, the Company engaged an affiliate of Meadowbank to provide investor relations, capital markets and corporate development advisory services. These additional RSUs granted to Meadowbank are in addition to the previously reported compensation paid to Meadowbank for its services. Meadowbank and its affiliates are unrelated and unaffiliated entities of the Company. The RSUs shall entitle the Eligible Parties the ability to acquire one common share (a “Share”) of the Company underlying each such RSU by delivering a notice of acquisition to the Company in accordance with the RSU Plan for a period of five years from issuance. In accordance with the RSU Plan, the RSUs were priced at CAD 0.70 based on the previous closing price on the trading day prior to the RSU grant.


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 asset royalty streams. 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. HoK plans to launch a hyper-realistic metaverse built on the latest version of Unreal Engine in 2022.

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: [e-mail]
Twitter: @LGL_io

Forward-Looking Information