LookSmart Group Recommends Shareholders Reject Unsolicited Tender Offer by Alternative Liquidity Capital

HENDERSON, Nev., Aug. 23, 2022 /PRNewswire/ -- LookSmart Group (OTCMARKETS SYMBOL: LKST) (https://www.otcmarkets.com/stock/LKST/overview), LookSmart Group Inc. ("LookSmart" or the "Company") is making this announcement in compliance with SEC regulation 14e-2 in order to inform shareholders of the Company's position with respect to the following tender offer. LookSmart is in no way associated with Alternative Liquidity Capital and recommends stockholders reject the unsolicited mini-tender offer by Alternative Liquidity for the purchase of up to 21,000 shares which represent 37% of the shares at $2 per share.

1. Alternative Liquidity Capital's Tender Offer is Below LookSmart's Last Share Price: Alternative Liquidity's offer price of $2.00 per share is Ninety Two and 3/100 (92.3%) Percent below the last traded price of $26.00 per share and is also Twenty-two Percent (22%) below the bid price of $2.55 in the stock price quotation at otcmarkets.com https://www.otcmarkets.com/stock/LKST/overview. Therefore, we recommend rejecting the bidder's tender offer per SEC regulation 14e-2(a)(1).
2. LookSmart is in no way associated with Alternative Liquidity Capital.

Accordingly, please exercise extreme caution and undertake due diligence when reviewing Alternative Liquidity's offer.

LookSmart is an online advertising solutions company. LookSmart is based in Henderson, Nevada. For more information, contact us at: ir@looksmart.net or call ‪(702) 625-2269.

This Statement may contain statements that are forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those in any forward-looking statements are (1) the risk of failing to complete any strategic transaction contemplated by any indications of interest for any reason, including the risk that third parties withdraw such indications of interest, (2) LookSmart's ability to maintain the value of its assets, operations and prospects (3) LookSmart's ability to deliver high quality traffic to advertisers and high value advertising opportunities to publishers (4) LookSmart's ability to capture market opportunities, and achieve growth and value based on its investments and growth opportunities (5) business disruptions associated with the tender offer commenced by Alternative Liquidity and (6) other factors detailed in LookSmart's filings with the OTCMarkets.com

Disclosure: If any material change occurs in the disclosure required by this section, the subject company shall promptly publish or send or give a statement disclosing such material change to security holders.

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SOURCE LOOKSMART