Liquid Meta Announces Exploration of Strategic Alternatives
TORONTO, Dec. 21, 2022 /CNW/ - Liquid Meta Capital Holdings Ltd. ("Liquid Meta" or the "Company") (NEO: LIQD) (FRANKFURT: N5F) (OTCQB: LIQQF) a decentralized finance infrastructure and technology company announced that its Board of Directors has initiated a process to evaluate potential strategic alternatives to preserve or maximize shareholder value. As part of the process, the Board will consider a range of options that may include, but are not limited to, a sale, merger, divestiture, return of capital, other strategic transactions, or continuing to operate as an independent public company.
"The Crypto markets have experienced a significant contraction over the last 12-months. The industry has faced challenges including the reduction in overall crypto market capitalization, collapse of the stable coin UST, the compression of trading activity, total value locked (TVL) and yields across the Defi sector and the failure of several large Centralized exchanges such as Voyageur, Blockfi and most recently FTX. Given the changes in the industry we believe the present represents a good time to evaluate options to maximize shareholder value" said Jonathan Wiesblatt, Chief Executive Office of the Company
There can be no assurance that the evaluation of strategic alternatives will result in any strategic alternative, or any assurance as to its outcome or timing. The Company has not set a timetable for completion of the process and does not intend to disclose developments related to the process unless and until the evaluation of strategic alternatives has been completed or the Board of Directors has concluded it is necessary or appropriate.
In order to preserve the cash position of the Company, Liquid Meta is discontinuing development of the MetaBridge as well as any other related development work pending conclusion of this process, plus taking other actions to immediately reduce cash burn to better position the Company for this strategic alternatives process.
Liquid Meta is a decentralized finance infrastructure and technology company that is powering the next generation of open-access protocols and applications. The Company is creating the bridge between traditional and decentralized finance while ushering in a new era of financial infrastructure that benefits anyone, anywhere.
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Cautionary Notice
Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.
Forward-Looking statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Liquid Meta to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks and Uncertainties" in the Company's Filing Statement dated as of December 17, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Liquid Meta disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Liquid Meta's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For further information:
Jonathan Wiesblatt, President, CEO
Liquid Meta Investor Relations
[email protected]
[email protected]
SOURCE Liquid Meta Capital Holdings Ltd
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