Vancouver, British Columbia--(Newsfile Corp. - January 17, 2025) - Boba Mint Holdings Ltd. (CSE: TNJ) ("Boba" or the "Company"), a leader in blockchain gaming, is pleased to announce that it has signed an arm's length letter of intent dated January 17, 2025 in connection with a proposed strategic investment in Werd Studios Inc. ("Werd"), a fast-growing blockchain/crypto gaming company based in Toronto, Ontario.
Werd Studios, led by Mr. Andrew Shore a successful technology entrepreneur specializing in gaming and blockchain and an industry thought leader, is developing, on its own and in collaboration with others, several exciting new blockchain/crypto games. Werd's most advanced game is its interest in Cafe Disco Party, a fast-paced and thrilling adventure where players manage lively cafe parties in a vibrant, imaginary world. Start with a quirky, low-level cafe and work your way up by owning and running fantastical venues. Throw epic parties, keep your guests happy, and grow your empire to become the ultimate café kingpin.
Andrew Shore's successful ventures and depth of experience include co-founding Drafters.com, which was sold to Super Draft and helping Bet99 to establish itself as one of Canada's leading online sportsbooks. Andrew then created Moon Poker, which recently became the #1 casino app in Canada's iOS App Store. Andrew has contributed to several successful crypto projects, including Houdini Swap and Amino Rewards, while building one of the most extensive networks of projects, influencers and developers in the crypto industry.
"We're excited to partner with Boba Mint Holdings as Werd Studios continues to lead the way in creating exceptional gaming experiences. Through this collaboration, we'll leverage our deep crypto knowledge and extensive network to accelerate the growth of Boba's crypto asset, Tanjea, while expanding our reach, enhancing our games, and fueling the success of our future incubees and partners," stated Andrew Shore.
"We look forward to partnering with Werd Studios and leveraging Andrew's expertise to further enhance Tanjea dynamics and bringing in other leading blockchain gaming assets," said Rody Lazar, CEO of Boba.
The Company is proposing to acquire a 50% equity stake in Werd through a combination of a share purchase from Mr. Andrew Shore, the CEO and founder of Werd, and a share subscription. The purchase price for the shares would be $2,550,000, payable by the issuance of an aggregate of 10,000,000 common shares of Boba (the "Consideration Shares"), at an issue price of $0.20 per share, and the payment to Werd of $550,000. It is expected that Mr. Shore will receive 5,000,000 Consideration Shares as consideration for the share purchase, and that Werd will receive 5,000,000 Consideration Shares and $550,000 in consideration for the share subscription. All of the Consideration Shares will be subject to resale restrictions. In addition, it is expected that Mr. Shore will become an advisor to Boba following the closing of the strategic investment in order to also assist with Boba's game development strategy.
The closing of the strategic investment is subject to the completion of due diligence, execution of definitive agreements, and the receipt of applicable corporate and regulatory approvals.
PowerOne Capital Markets Limited is acting as an advisor for the proposed strategic investment.
The Company also announces that it has granted an aggregate of 3,400,000 incentive stock options (the "Options") to certain directors, officers, consultants and advisors of the Company, pursuant to the Company's long-term incentive plan. Each Option is exercisable to acquire one Boba common share, at a price of $0.20 per share, for a period of five years, and vesting in equal tranches on a quarterly basis for 24 months. In addition, the Company announces that it has negotiated the settlement of $200,000 of arm's length accounts payable through the issuance of 1,000,000 Boba common shares, at an issue price of $0.20 per share. The foregoing option grant and shares for debt issuance is subject to the final approval of the CSE.
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. None of the securities issued in the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.
We seek Safe Harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237659
SOURCE: Boba Mint Holdings Ltd.
