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VANCOUVER, British Columbia, Feb. 06, 2024 (GLOBE NEWSWIRE) — Trying Glass Labs Ltd. (“LGL”
or the
“Firm”)
(NEO:
NFTX)
(OTC:
LGSLF)
(FRA:
H1N) is happy to announce the signing of a definitive settlement (the “Buy Settlement“) to accumulate the local weather and synthetic intelligence (AI) web3 belongings (the “Bought Property“) of Bot Media Corp. (“Bot Media” or the “Vendor“) for a purchase order worth of $765,000, payable by the issuance of widespread shares of the Firm (the “Consideration Shares“) at a deemed worth of $0.25 per share.
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Below the phrases of the Buy Settlement, LGL will problem a complete of three,060,000 Consideration Shares to the Vendor, every valued at $0.25, on the time of closing (the “Closing“). The Firm intends to make the most of Part 2.12 of the Nationwide Instrument – Prospectus Exemptions, additionally known as the asset acquisition prospectus exemption, for the issuance of the Consideration Shares. These shares can be topic to a statutory maintain interval of 4 months and someday, ranging from the time limit. The completion of this acquisition is contingent upon LGL’s remaining due diligence and the approval of Cboe Canada.
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Bought Property
The acquisition contains carbon.bot (“CarbonBot“) and local weather.bot (“ClimateBot“). CarbonBot is an revolutionary digital platform that tracks information associated to climate-focused firms and generates articles utilizing AI, incorporating capabilities of ChatGPT. Developed by the Vendor, CarbonBot acts as a real-time information aggregator within the environmental sustainability sector, leveraging Massive Language Fashions like ChatGPT to summarize and disseminate articles from its community. ClimateBot is an internet primarily based digital device providing a spread of calculators to guage varied environmental impacts, specializing in carbon footprint assessments. It permits customers to take direct motion in the direction of remediation, similar to carbon offsetting by tree planting initiatives.
High Tales
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Local weather.bot: A Carbon Footprint Evaluation and Mitigation Know-how
ClimateBot is designed to alter the way in which we perceive and handle our carbon footprint. By way of on-line questionnaires, it calculates the carbon footprint of people and companies, encouraging energetic participation in local weather mitigation by providing mangrove tree planting to offset annual carbon emissions. This effort is supported by a partnership with The Treegens, a number one Web3 venture within the Regenerative Finance (ReFi) area.
Jared Gurfein, CEO of LGL, shared his pleasure in regards to the acquisition, “That is greater than a enterprise transaction; it’s a major step in the direction of a sustainable future. We’re keen to include these groundbreaking platforms into our choices and make an actual distinction in environmental safety.”
Jimi Cohen, founding father of Treegens and Guinness World File holder for tree planting, applauded the initiative, “The applying of the Treegens Protocol by Bot Media and the dedication of Trying Glass to the ReFi market are outstanding. This collaboration highlights the influence of revolutionary know-how on environmental conservation.”
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Carbon.bot: A Hub for Carbon Economic system Insights
The acquisition additionally features a media platform that tracks main carbon economic system ventures, nonprofits, and Web3 ReFi initiatives in real-time. It makes use of ChatGPT to create automated information from press releases and social media, which is then curated and edited for the platform.
This acquisition is a pivotal second in merging know-how with environmental stewardship, positioning LGL on the forefront of combating local weather change with its experience in Web3 options.
Daniel Rad, Editor-in-Chief of Bot Media, expressed his enthusiasm, “Partnering with Trying Glass Labs is a key achievement for us. Our mixed technological and media experience will undoubtedly forge a strong device within the local weather change battle.”
ABOUT LOOKING GLASS LABS
Primarily based in Vancouver, British Columbia, Trying Glass Labs (“LGL“) focuses on shopper engagement functions that exploit immersive metaverse environments, gamification, and Internet 3.0/blockchain monetization methods.
For
additional
info,
please
contact:
James Henning, Director
Toll-Free: +1 833 LGL-NFTX (833-545-6389)
E-mail: information@lgl.io
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Ahead-Trying
Data
This information launch incorporates “forward-looking statements.” Statements on this information launch that aren’t purely historic are forward-looking statements and embody any statements concerning beliefs, plans, expectations, or intentions concerning the longer term. Such forward-looking statements embody, amongst different issues: the closing of the acquisition of carbon.bot and local weather.bot, the Firm’s objective to change into the main digital studio specializing in Internet 3.0/blockchain monetization methods.
The fabric assumptions supporting these forward-looking statements embody, amongst others, that: the Firm
may
mitigate
the
dangers
related
with
the
blockchain
and
NFT
trade;
the
capability
to
compete with different companies within the Internet 3.0 market; the supply of enough funding to hold out the Firm’s enterprise improvement plans; beneficial market situations; and the market acceptance for its merchandise.
Though administration considers these assumptions to be affordable primarily based on info presently out there
to
it,
they
could
show
to
be
incorrect.
These
forward-looking
statements
are
solely
predictions
and contain identified and unknown dangers, uncertainties and different elements, together with: the continued development and adoption of NFT and metaverse choices by the patron market; the price of growing and designing NFTs and metaverses is economically viable; the Firm with the ability to appeal to and retain a enough workforce
with
desired
skillsets
to
develop
the
Firm’s
digital
choices;
the
availability
of choices
offered
by
third-parties
in
the
NFT,
metaverse
improvement
and
on-line
gaming
market
to
establish potential transactions; the growing adoption of NFTs as an answer for varied on-line gaming, leisure
and
collectible
makes use of;
the
Firm
having
the
capability
to
mitigate
the
dangers
related
with
the blockchain and NFT trade; and the flexibility to compete with different companies within the NFT, metaverse improvement, content material creation and collectibles market.
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Though administration considers these assumptions to be affordable primarily based on info presently out there
to
it,
they
could
show
to
be
incorrect.
These
forward-looking
statements
are
solely
predictions
and contain identified and unknown dangers, uncertainties and different elements, together with: the danger that the Firm’s choices aren’t accepted by the patron, the danger that different opponents could provide comparable digital choices; the danger that there could also be adverse modifications usually financial and enterprise situations; the danger that the Firm could have adverse working money movement and never sufficient capital to finish the event of any of its applied sciences; the danger that the Firm could not have the ability to receive further financing
as
vital;
the
danger
that
there
could
be
will increase
in
capital
and
working
prices;
the
danger
that
the NFT
know-how
could
be
topic
to
fraud
and
different
failures;
the
danger
that
there
could
be
technological
modifications and developments within the blockchain that make the NFT options out of date; dangers referring to regulatory modifications or actions which can impede the event or operation of the blockchain options; the danger that
different
opponents
could
launch
comparable
blockchain
choices;
the
potential
future
unviability
of
the
NFT market usually; the unstable value of the quantity of computational effort required to execute particular operations on the blockchain, and different common dangers concerned within the blockchain options.
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Dangers and uncertainties in regards to the Firm’s enterprise are extra absolutely mentioned within the Firm’s disclosure supplies, together with its reviews filed with the Canadian securities regulators and which might be obtained from www.sedarplus.ca.
Any
of
these
dangers
could
trigger
the
Firm’s
precise
outcomes,
ranges
of
exercise,
efficiency
or
achievements to
be
materially
completely different
from
any
future
outcomes,
ranges
of
exercise,
efficiency
or
achievements
expressed or implied by these forward-looking statements. Additional, though the Firm has tried to establish elements
that
may trigger precise
outcomes,
ranges
of exercise, efficiency
or
achievements
to
differ materially from
these
described
in
forward-looking
statements,
there
could
be
different
elements
that
trigger
outcomes,
ranges
of exercise, efficiency or achievements to not be as anticipated, estimated or supposed. These forward- trying statements are made as of the date of this information launch, and the Firm assumes no obligation to replace the forward-looking statements, or to replace the the reason why precise outcomes may differ from these projected within the forward-looking statements, besides as required by relevant regulation, together with the securities legal guidelines of the US and Canada. Though the Firm believes that any beliefs, plans, expectations and intentions
contained
on this information launch are affordable, there might be no assurance that any
such
beliefs,
plans,
expectations
or
intentions
will
show
to
be
correct.
The
Firm
does
not
assume any legal responsibility for disclosure referring to some other firm talked about herein.
SOURCE:
LOOKING
GLASS
LABS LTD.
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