Vancouver, British Columbia, July 18, 2023 – NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO | OTCQB: NFTFF) ("NFT Tech" or the “Company”), a pioneer in the technology driven solutions for the world's most cherished intellectual property, is pleased to announce it has closed the second tranche of the non-brokered private placement announced on February 27, 2023, consisting of 8,512,800 units in this tranche at a price of $0.05 per unit for gross proceeds of $425,640. In total the Company issued 15,512,800 units for total gross proceeds of $775,640.
Each unit consists 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 proceeds of the financing will be used to fund general corporate working requirements. Completion of the financing is subject to receipt of final applicable regulatory approvals including the approval of the NEO Exchange. All securities issued in connection with the financing will be subject to a hold period of four months and one day.
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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