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TORONTO, December 21, 2022 /PRNewswire/ – Liquid Meta Capital Holdings Ltd. (“Liquid Meta” or “Company“) (NEO: LIKD) (FRANKFURT: N5F) (OTCKB: LIKKF) decentralized financial 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 number of options which may include, but are not limited to, a sale, merger, divestment, return of equity, other strategic transactions or continuing as an independent public company.
“The Crypto markets have experienced significant declines over the past 12 months. The industry has faced challenges, including downsizing across the board crypto market cap, the collapse of the UST stablecoin, the compression of trading activity, the total value locked (TVL) and returns in the Defi sector and the failure of several large centralized exchanges such as Voyageur, Blockfi and recently FTKS. “Given the changes in the industry, we believe now is a good time to evaluate options to maximize shareholder value,” he said. Jonathan WiesblattExecutive Office of the Company
There can be no assurance that the evaluation of strategic alternatives will result in any strategic alternative, or any guarantee as to its outcome or timing. The Company has not set a timetable for the completion of the process and does not intend to disclose developments related to the process unless and until the evaluation of strategic alternatives is completed or the Board of Directors determines that it is necessary or appropriate.
In order to preserve the Company’s cash position, Liquid Meta is suspending MetaBridge development as well as any other development work related to the completion of this process, plus taking other actions to immediately reduce cash burn to better position the Company for this strategic alternative process.
About Liquid Meta
Liquid Meta is a decentralized financial infrastructure and technology company powering the next generation of open access protocols and applications. The company is creating a bridge between traditional and decentralized finance while ushering in a new era of financial infrastructure that benefits everyone, anywhere.
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Warning
Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its content.
Forward-looking statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities law. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this release. Any statement that includes discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often, but not always, using phrases such as “expects,” or “does not expect,” “expects ” , “anticipates” or “does not anticipate”, “plans”, “budget”, “planned”, “anticipates”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions , events or results “may” or “could”, “would”, “could” or “will” be considered 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 that could cause Liquid Meta’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied in 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 heading “Risks and Uncertainties” in the Company’s Statement dated December 17, 2021 which is available for review on SEDAR at www.sedar.com. The forward-looking statements contained herein are made as of the date of this press release and Liquid Meta disclaims, except 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 may be significantly affected by the effects of a widespread global infectious disease outbreak, including the recent disease outbreak caused by COVID-19. It is not possible to accurately predict the impact that COVID-19 will have on the operations and ability of others to meet their obligations, including uncertainties regarding 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 the governments of affected countries. In addition, a significant outbreak of infectious 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 business and the ability to finance business. .
For further information:
Jonathan WiesblattPresident, CEO
Liquid Meta Investor Relations
investors@likuidmeta.io
jon@likuidmeta.io
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SOURCE Liquid Meta Capital Holdings Ltd
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