Vancouver, British Columbia--(Newsfile Corp. - March 5, 2025) - Boba Mint Holdings Ltd. (CSE: TNJ) ("Boba" or the "Company"), is pleased to announce that it has completed its previously-announced (see press release dated January 17, 2025) arm's length strategic investment in Werd Studios Inc. ("Werd Studios"), a fast-growing blockchain/crypto gaming company based in Toronto, Ontario. In addition, Mr. Andrew Shore, the CEO and founder of Werd Studios, is joining the Boba team as an advisor in order to assist with Boba's game development strategy.
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 Studios' 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.
Werd Studios also has an interest in Moon Gaming, and has committed to acquire an interest in Amino Rewards. Moon Gaming is at the forefront of innovation in the mobile gaming industry. The debut creation, Moon Poker, redefines the entertainment landscape by offering a thrilling mobile video game that not only immerses players in a cosmic world, but also presents real cash prizes in hyper-turbo tournaments. Amino Rewards is a health and fitness focused platform that leverages blockchain to promote a healthy lifestyle.
"We're thrilled to partner with Werd Studios and leverage Andrew's expertise, vast network, and unparalleled access to deal flow to enhance Tanjea's ecosystem while bringing in other premier blockchain and blockchain gaming assets," said Rody Lazar, CEO of Boba.
"We're beyond excited to team up with Boba as Werd Studios continues to push the boundaries of gaming and blockchain innovation while expanding Werd's advisory business. This partnership empowers us to broaden our reach, enhance our games, and accelerate the success of our future projects and partners," said Andrew Shore.
The Company acquired a 50% equity stake in Werd Studios through a combination of a share purchase from Mr. Shore, and a share subscription in Werd Studios. The aggregate purchase price for the shares, namely $2,550,000, was satisfied 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 Studios of $550,000. Mr. Shore received 5,000,000 Consideration Shares as consideration for the share purchase, and Werd Studios received 5,000,000 Consideration Shares and $550,000 in cash as consideration for the share subscription.
The 5,000,000 Consideration Shares issued to Mr. Shore are subject to a contractual restricted period whereby (i) 25% of the Consideration Shares will become freely tradeable on the date which is 6 months following closing, (ii) an additional 25% of the Consideration Shares will become freely tradeable on the date which is 12 months following closing, and (iii) the remaining 50% of the Consideration Shares will become freely tradeable on the date which is 18 months following closing.
The 5,000,000 Consideration Shares issued to Werd Studios are subject to a resale restriction of four months and one day, as contemplated by applicable securities laws and the policies of the CSE.
Certain arm's length advisors to Boba for the strategic investment received an aggregate of 1,275,000 common shares, at an issue price of $0.20 per share, as advisory fees in connection with the closing of the investment in Werd Studios. The foregoing shares are subject to a resale restriction of four months and one day, as contemplated by applicable securities laws and the policies of the CSE.
Jing Peng Appointed as New CFO
Boba is also pleased to announce the appointment of Mr. Jing Peng as the Chief Financial Officer (CFO) of the Company. Mr. Peng is a Canadian Chartered Professional Accountant. He has worked in public accounting for the past fourteen years. Since December 2010, Mr. Peng has been the senior financial analyst at Marrelli Support Services Inc., a well-respected supplier of accounting and reporting services. Prior thereto, Mr. Peng was a senior accountant at MSCM LLP from June 2009 through December 2010, and at KPMG LLP from January 2007 through June 2009. Mr. Peng holds a Master's degree in Management and Professional Accounting from Rotman School of Management, University of Toronto.
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.
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SOURCE: Boba Mint Holdings Ltd.
