(via TheNewswire)
In accordance with the terms and conditions of the SPA, Cloud Nine will acquire a 19.7% ownership interest in Next Decentrum, on an undiluted basis, by providing a total cash payment of
The first and second tranches involved Cloud Nine’s purchase of 534,758 Units of Next Decentrum for a cash payment of
“We are very excited about supporting the mission-driven team at Next Decentrum and expanding upon our existing relationship with their development team who has been assisting Cloud Nine with the development of our tech platform,” said
Next Decentrum intends to use the investment proceeds for product development, market outreach and growing the Next Decentrum team. Next Decentrum is in the process of opening up early access to Momentable.ai, a digital collectables platform that empowers creators to create, manage, and promote NFT-based digital products, experiences, collections, and communities on the flow blockchain.
“Cloud Nine has been a great partner and this strategic investment is another step forward in our ongoing partnership,” said
More than
Momentable.ai helps creators and brands:
- Get NFT ideas off the ground and build a community around them.
- Launch an NFT storefront and marketplace on the flow blockchain.
- Build and manage NFT-based branded products and collections.
- Create a seamless experience for followers and communities.
- Engage and reward loyal community members.
For more information, please visit NextDecentrum.com.
On Behalf of the Board,
President
(604) 365-1376
About
Cloud Nine is a technology company focused on diversifying its platform to develop Web 3.0 technology products to enable decentralized movement among consumers and businesses alike. Web 3.0 enables a sustainable world where decentralized users and machines are able to interact with data, value and other counterparties via a substrate of peer-to-peer networks without the need for third parties creating many benefits such as giving each user full control and ownership of all personal and corporate data.
About
Next Decentrum designs and builds dynamic, relevant, and human-led emerging tech education content and software, inspired by the modern theories of continuous innovations, lean thinking, and agile development. Next Decentrum is a private technology company driven to build ground-breaking products and explore the possibilities of blockchain by providing creators and brands with the flexibility to create seamless experiences.
For further information, please contact:
Corporate Communications
Phone: (778) 240-7724
psearle@citygatecap.com
Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy of accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding: the future purchase of shares and increase in ownership interest in Next Decentrum; Next Decentrum’s ability to capitalize on growth opportunities; Next Decentrum’s use of the investment proceeds; the Company’s ability to build and expand its partnership with Next Decentrum; and the Company’s pursuit of emerging technology products and Web3 opportunities on a global scale. Factors that could cause actual results to differ materially from those in forward-looking statements include: the continued availability of capital and financing; failure to obtain any approvals, permits and licenses required to operate the business; the impact of technology changes on the industry; the impact of the Covid-19 pandemic on the Company’s ability to operate and hire personnel; and adverse general economic, market or business conditions. Such forward-looking statements should therefore be construed in light of such factors, and, except as required by applicable law, the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Copyright (c) 2021 TheNewswire - All rights reserved., source