Vancouver, British Columbia--(Newsfile Corp. - December 10, 2024) - Boba Mint Holdings Ltd. (CSE: TNJ) ("Boba" or the "Company"), a leader in blockchain gaming, is pleased to provide an update on the progress of its flagship blockchain game, Tanjea, built on the Ethereum network. Tanjea delivers an immersive play-to-earn experience where players can collect, trade, and use NFT characters to earn $TNJ tokens.
We're making excellent progress on the highly anticipated Token Withdrawal feature, which will allow players to transfer their earned $TNJ tokens seamlessly. This development is part of our commitment to delivering a user-centric and rewarding blockchain gaming experience. While still in the works, the feature is advancing steadily and is anticipated for release by the end of 2024.
Key Highlights
Token Withdrawal Progress: The ability for players to withdraw $TNJ tokens is progressing well, with the feature expected to roll out fully by year-end. We are also working towards listing $TNJ on Uniswap, enabling players to access greater liquidity and value from their in-game earnings.
NFT Ecosystem: Players continue to collect and use unique NFT characters like birds and wolves, earning $TNJ tokens as they participate in Tanjea's dynamic play-to-earn ecosystem.
Driving Growth Through Strategic Partnerships
Boba Mint Holdings Ltd. is actively pursuing strategic partnership initiatives designed to drive sustainable growth, expand market reach, and increase shareholder value. These efforts encompass collaborations with industry leaders, the exploration of innovative technologies, and leveraging synergies to strengthen the Company's competitive position in the market.
"Strategic partnerships are pivotal to our vision of building a robust and innovative blockchain gaming ecosystem," said Rody Lazar, CEO of Boba Mint Holdings Ltd. "By working with industry leaders and embracing cutting-edge technologies, we aim to accelerate growth, deliver enhanced value to our players, and maximize returns for our shareholders."
Consolidation
Boba also wishes to announce a 5 to 1 share consolidation of its issued and outstanding common shares. Boba intends to consolidate its issued and outstanding share capital on the basis of 1 post-consolidation common share for each 5 pre-consolidation common shares (the "Consolidation"). Any fraction of a common share will be rounded up or down to the nearest whole number. The common shares are expected to begin trading on a consolidated basis and with new CUSIP number 096775200 on December 16, 2024, subject to the regulatory approvals, including the approval of the CSE.
As a result of the Consolidation, the outstanding common shares of Boba will be reduced to approximately 46,265,212. Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the Company, the Consolidation was approved by way of resolution passed by the Board of Directors of the Company. The Board of Directors believes that the proposed Consolidation will provide the Company with increased flexibility in structuring and completing financings, and will better position the Company to attract additional investors.
Shareholders who hold their shares through a securities broker or dealer, bank or trust company will not be required to take any measures with respect to the share consolidation. Boba's transfer agent, Endeavor Trust Corporation ("Endeavor"), will mail a letter of transmittal to all registered shareholders of Boba that will contain instructions for exchanging their pre-Consolidation common shares for post-Consolidation common shares. Registered shareholders will be required to return their certificates representing pre-Consolidation common shares and a completed letter of transmittal to Endeavor. Any registered shareholder who submits a duly completed letter of transmittal to Endeavor along with pre-Consolidation share certificate will receive in return a post-Consolidation share certificate or Direct Registration System Advice. Boba's outstanding warrants and options will be adjusted on the same basis (5 to 1) as Boba's common shares, with proportionate adjustments being made to exercise prices.
Boba will not be changing its name or trading symbol in connection with the Consolidation. Trading on a Consolidated Basis is expected to occur on December 16, 2024 with a Record Date of December 17, 2024.
Financing
The Company is pleased to announce that it is arranging a non-brokered private placement financing of up to 30,000,000 Units of the Company (the "Units"), at a price of $0.05 per Unit, for gross proceeds of up to $1,500,000 (the "Offering"). Each Unit is comprised of one post-Consolidation common share of the Company (each, a "Share") and one post-Consolidation common share purchase warrant (each, a "Warrant"), with each Warrant exercisable into one additional Share at a price of $0.06 per Share for a period of 3 years from the closing of the Offering.
The Company will (i) pay a cash fee to eligible finders as may be agreed to by the Company at the closing of the Offering that is equal to 8% of the gross proceeds realized by the Company in respect of the Offering, and (ii) issue finder warrants equal in number to 8% of the total number of Units sold pursuant to the Offering (the "Finder Warrants"). Each Finder Warrant entitles the holder to purchase one Unit at a price of $0.05 for a period of 3 years from the closing of the Offering. PowerOne Capital Markets Limited will act as a finder in connection with the Offering.
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the CSE. The securities issued pursuant to the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Warrants will not be listed on any exchange.
About Boba Mint Holdings Ltd.
Boba Mint Holdings Ltd. is focused on the development of blockchain mobile games that integrate ERC20 tokens and ERC721 NFTs. Its primary product is a mobile blockchain gaming ecosystem called Tanjea, where gamers collect NFT characters (primarily birds and wolves) in multiple mobile games and use them to earn $TNJ tokens.
Boba Mint is a pioneering blockchain gaming company dedicated to creating immersive, decentralized gaming experiences. Boba Mint has become synonymous with innovation and excellence in the blockchain gaming industry.
On Behalf of the Board of Directors,
Boba Mint Holdings Ltd.
"Rody Lazar" CEO
For further information, please contact:
Rody Lazar - CEO
Phone: 1-800-556-1015
Email: info@bobamint.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for this release's adequacy or accuracy.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Boba's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Such statements include those relating to game development and the Company's expectations and plans. Although Boba believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments in the blockchain sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mobile video game industry and markets in Canada and generally; the ability of Boba to implement its business strategies; competition; and other assumptions, risks and uncertainties. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. The foregoing statements expressly qualify any forward- looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Boba' Form 2A Listing Statement dated April 19, 2024 which is available on Boba's profile at http://www.sedarplus.ca and on the CSE website at https://thecse.com/listings/boba-mint-holdings- ltd/.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
We seek Safe Harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233304
SOURCE: Boba Mint Holdings Ltd.
