Looking Glass Labs Announces Share Consolidation

VANCOUVER, British Columbia, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (AQSE: NFTX) (OTC: LGSLF) (FRA: H1N) is pleased to announce that further to its new release dated 27 September 2023, it has received NEO Exchange Inc., operating as Cboe Canada (the “NEO Exchange”) approval to consolidate all of the Company’s issued and outstanding common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for each seventy-five (75) pre-consolidation Common Shares (the "Consolidation").

The effective date and trading of the Common Shares on a post-Consolidation basis on NEO Exchange is 6 October 2023. The Company's name and trading symbol will remain unchanged. The new CUSIP number will be 54342Q205 and the ISIN number will be CA54342Q2053.

The Consolidation will result in the number of issued and outstanding Common Shares being reduced from 148,937,668 pre-consolidation Common Shares to 1,985,764 post-Consolidation Common Shares of no par value. The exercise or conversion price of warrants and stock options, and the number of Common Shares issuable thereunder will also be proportionately adjusted upon the completion of the Consolidation.

The above figure of 1,985,764 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

No fractional shares will be issued as a result of the Consolidation. All fractions of Common Shares will be rounded down to the next lowest whole number. No cash consideration will be paid in respect of fractional shares.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

The Directors of Looking Glass Labs take responsibility for this announcement.

ABOUT LOOKING GLASS LABS

Headquartered in Vancouver, British Columbia, Looking Glass Labs ("LGL") specialises in consumer engagement applications to leverage immersive metaverse environments, gamification and Web 3.0 / blockchain monetisation strategies.