NFT Tech Completes Acquisition of Run It Wild - Seite 2

Run It Wild developed and advised on a web3 strategy for Linktree, and delivered the first fully on-chain Elvis NFT strategy for the Estate of Elvis Presley. Its project with Tennis Australia, AO Metaverse was the first to win a Cannes Lion award in Sports Entertainment for an NFT Activation. As ex-Head of Partnerships for Decentraland, Adam onboarded Sotheby’s, the 250-year-old auction house, for their first Metaverse experience, and oversaw other notable debuts, including Coca-Cola, Unilever, Australian Open, Samsung, and others.

About the Transaction

The Transaction is anticipated to be completed pursuant to a share purchase agreement between NFT Tech and the vendor (the "Agreement"), dated July 7, 2022. On closing of the Transaction, NFT Tech will issue 10,000,000 common shares and a cash payment of C$50,000 in exchange for acquiring all of the issued and outstanding shares of Run it Wild. Pursuant to the Agreement, in connection with the Transaction of Run It Wild, Mr. De Cata, will enter into a new employment agreement with NFT Tech to continue to provide services to NFT Tech ("Key Employee Agreement").

Common shares issued in connection with the Agreement will be subject to certain transfer restrictions as set forth in the Agreement, including contractual lock-up for a period of twenty-four (24) months.

Private Placement Update

NFT Tech has closed a non-brokered private placement (the “Private Placement”) for a total of 1,170,299 units (each a “Unit”) at the price of $0.15 per Unit for gross proceeds of $175,544.95. Each Unit is comprised of one common share of NFT Tech (the "Unit Shares") and one warrant (a "Warrant") to purchase a common share (the "Warrant Shares"). The Warrants are governed by the terms and conditions of a warrant indenture entered into between NFT Tech and Odyssey Trust Company, as warrant agent. The Common Shares issued pursuant to the Private Placement are subject to a statutory hold period ending four months and a day from the date of issuance in accordance with applicable securities law. The net proceeds from the Private Placement are intended to be used to fund the cash portion of the purchase price of the acquisition of Run It Wild and for general working capital purposes.