VANCOUVER, British Columbia, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Looking Glass Labs Ltd. ("LGL"or the"Company")(CBOE Canada:NFTX)(OTC:LGSLF)(FRA:H1N) is pleased to announce that the Company will change its name to “Metasphere Labs Inc.” from “Looking Glass Labs Ltd.” and begin trading on the Cboe Canada Inc. (the “Cboe”) under the new name at the market open on February 29, 2024. The Company will also concurrently change its stock symbol to “LABZ” from “NFTX” on the Cboe.

No action is required to be taken by shareholders with respect to the name change. Outstanding share certificates are not affected by the name change and do not need to be exchanged. The Company’s ISIN and CUSIP numbers for the common shares will change to CA59140M1086 and 59140M108, respectively.

ABOUT LOOKING GLASS LABS

Based in Vancouver, British Columbia, Looking Glass Labs ("LGL") specializes in consumer engagement applications that exploit immersive metaverse environments, gamification, and Web 3.0/blockchain monetization strategies.

Forfurtherinformation,pleasecontact:
James Henning, Director
Toll-Free: +1 833 LGL-NFTX (833-545-6389)
Email: info@lgl.io

Forward-LookingInformation

This news release contains "forward-looking statements." Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things: the acquisition of carbon.bot and climate.bot and the Company's goal to become the leading digital studio focusing on Web 3.0/blockchain monetization strategies.

The material assumptions supporting these forward-looking statements include, among others, that: the CompanycouldmitigatetherisksassociatedwiththeblockchainandNFTindustry;theabilitytocompete with other businesses in the Web 3.0 market; the availability of sufficient funding to carry out the Company's business development plans; favourable market conditions; and the market acceptance for its products.

Although management considers these assumptions to be reasonable based on information currently availabletoit,theymayprovetobeincorrect.Theseforward-lookingstatementsareonlypredictionsand involve known and unknown risks, uncertainties and other factors, including: the continued growth and adoption of NFT and metaverse offerings by the consumer market; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforcewithdesiredskillsetstodeveloptheCompany'sdigitalofferings;theavailabilityof offeringsprovidedbythird-partiesintheNFT,metaversedevelopmentandonlinegamingmarkettoidentify potential transactions; the increasing adoption of NFTs as a solution for various online gaming, entertainmentandcollectibleuses;theCompanyhavingtheabilitytomitigatetherisksassociatedwiththe blockchain and NFT industry; and the ability to compete with other businesses in the NFT, metaverse development, content creation and collectibles market.

Although management considers these assumptions to be reasonable based on information currently availabletoit,theymayprovetobeincorrect.Theseforward-lookingstatementsareonlypredictionsand involve known and unknown risks, uncertainties and other factors, including: the risk that the Company's offerings are not accepted by the consumer, the risk that other competitors may offer similar digital offerings; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financingasnecessary;theriskthattheremaybeincreasesincapitalandoperatingcosts;theriskthatthe NFTtechnologymaybesubjecttofraudandotherfailures;theriskthattheremaybetechnologicalchanges and developments in the blockchain that make the NFT solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk thatothercompetitorsmayreleasesimilarblockchainofferings;thepotentialfutureunviabilityoftheNFT market in general; the volatile cost of the amount of computational effort required to execute specific operations on the blockchain, and other general risks involved in the blockchain solutions.

Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials, including its reports filed with the Canadian securities regulators and which can be obtained from www.sedarplus.ca.

AnyoftheserisksmaycausetheCompany’sactualresults,levelsofactivity,performanceorachievements tobemateriallydifferentfromanyfutureresults,levelsofactivity,performanceorachievementsexpressed or implied by these forward-looking statements. Further, although the Company has attempted to identify factorsthatcould cause actualresults,levelsof activity, performanceorachievementstodiffer materially fromthosedescribedinforward-lookingstatements,theremaybeotherfactorsthatcauseresults,levelsof activity, performance or achievements not to be as anticipated, estimated or intended. These forward- looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentionscontainedin this news release are reasonable, there can be no assurance that anysuchbeliefs,plans,expectationsorintentionswillprovetobeaccurate.TheCompanydoesnotassume any liability for disclosure relating to any other company mentioned herein.

SOURCE:LOOKINGGLASSLABS LTD.