VANCOUVER, British Columbia, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Looking Glass Labs Ltd. ("LGL"or the"Company")(Cboe Canada:NFTX)(OTC:LGSLF)(FRA:H1N) a leading company in the Open Metaverse and digital asset applications, is excited to announce the appointment of Mrs. Natasha Ingram as its new Chief Executive Officer. Mrs. Ingram, a seasoned entrepreneur and marketing virtuoso, brings a wealth of experience and a fresh perspective to Looking Glass Labs.

Before joining the Company, Mrs. Ingram was the founder of the digital agency, Transparency Digital, showcasing her strategic vision and execution prowess. In her new role, Mrs. Ingram is set to direct the Company's innovative efforts in developing cutting-edge Open Metaverse applications and digital assets, leveraging the power of Unreal Engine development and blockchain technology. Under her guidance, Looking Glass Labs will focus on creating applications that not only push the boundaries of virtual worlds but also prioritize environmental sustainability, social impact, and the promotion of freedom of speech.

Mrs. Ingram shared her enthusiasm for her new role: "I am thrilled to lead Looking Glass Labs, soon to be called Metasphere Labs. The potential of the Open Metaverse is limitless, and our team is uniquely positioned to create immersive, impactful experiences that resonate with users worldwide. I am committed to driving innovation that not only advances the industry but also upholds our core values of sustainability and social responsibility."

The Company also extends its heartfelt gratitude to Mr. Jared Gurfein for his dedicated service as the outgoing CEO. Mr. Gurfein's visionary leadership has been instrumental in positioning Looking Glass Labs on its current trajectory of growth and innovation. "We wish Jared all the best in his future endeavors and are grateful for his contributions," the Company stated.

Looking Glass Labs is poised for an exciting new chapter under Mrs. Ingram's leadership, with a focus on expanding its reach in the Open Metaverse sector and making a positive impact on society.

In addition, on February 16, 2024, the Company announced an exciting development: it will be changing its name to Metasphere Labs Inc., adopting a new ticker symbol LABZ. This rebranding reflects the Company's evolving mission and broadened focus on pioneering the future of the Open Metaverse, aligning with its innovative projects and goals. With this name change, the Company's URL has been updated to https://metasphere.earth, and its Twitter handle is now https://twitter.com/metaspherelabs. The website has been refreshed to reflect the Company's current initiatives.

ABOUT LOOKING GLASS LABS

Headquartered in Vancouver, British Columbia, Looking Glass Labs ("LGL") develops metaverse environments, DAO solutions, gamification, and Web3 / blockchain monetisation strategies aiming to solve social coordination problems for acting on climate change and making a positive impact on the planet.

Forfurtherinformation,pleasecontact:
Natasha Ingram, CEO
Email: info@metasphere.earth

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, open metaverse projects and development of virtual world projects.

The material assumptions supporting these forward-looking statements include, among others, that: the CompanycouldmitigatetherisksassociatedwiththeblockchainandNFTindustry;theabilitytocompete with other businesses in the NFT, metaverse and blockchain markets; 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, metaverse and blockchain offerings; 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.