Vancouver, British Columbia, February 24, 2023 – NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO | OTCQB: NFTFF) ("NFT Tech" or the “Company”), a leading technology company partnering with top-tier brands to accelerate their entry into the world of web3 through innovative technologies and unparalleled creativity, following completion of the acquisition of Run It Wild by NFT Tech on February 23, 2023, is pleased to announce a non-brokered private placement (“Private Placement”) of up to 20,000,000 units of the Company (“Units”) at the price of $0.05 per Unit (the “Issue Price”) for gross proceeds of up to $1,000,000. Each Unit will consist of one common share (each a “Common Share”) of the Company and one-half of one purchase warrant (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 following the closing of the Private Placement.
The net proceeds of the Private Placement will be used to fund general corporate working requirements. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the NEO Exchange. All securities to be issued pursuant to the Private Placement will have a hold period of four months and one day from the closing of the Private Placement.
The Company has also announced today the appointment of Mark Leung as its new CFO. Mark has taken over the role from Frank Guo. Mr. Leung will be responsible for leading the finance team, reporting, and overseeing the Company's revenue growth plans in 2023 and beyond.
NFT Tech builds products that accelerate web3 adoption by infusing utility into digital assets. The company’s technology is designed to increase consumer engagement, enable digital asset ownership, and discover new business models, making NFT Tech a trusted partner to global brands across many industries, including sports, entertainment, and art. 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 well-known 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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