Tokens.com Completes Sale of Assets to StoryFire
TORONTO, March 04, 2024--(BUSINESS WIRE)--Tokens.com Corp. (Cboe Canada: COIN) (Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) ("Tokens.com" or the "Company"), a technology holding company that owns an inventory of cryptocurrencies, is pleased to announce that it has successfully closed the sale of Metaverse Group and Hulk Labs to StoryFire as scheduled on March 1, 2024.
The final agreement was closed with consideration to Tokens.com for the disposition consisting of a 15.3% equity interest in StoryFire, valued at US$3.5 million, plus US$500,000 in Blaze tokens, the in-app currency native to StoryFire. In addition, Tokens.com will be represented by Andrew Kiguel on the board of StoryFire.
"We are pleased with the successful completion of this sale, and look forward to the continued disruptive innovation and impact our new partners at StoryFire will bring to the web3 space," said Andrew Kiguel, CEO of Tokens.com.
StoryFire is a private online social entertainment and gaming platform that empowers users to create and engage with immersive narratives. With a rapidly growing user base of 2.5 million, StoryFire offers a vibrant and creative community for storytellers and enthusiasts. StoryFire users create social posts akin to Twitter, gain a following and earn an in-app currency known as Blaze. StoryFire is a privately owned entity.
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Forward-Looking Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements in this news release include statements relating to the strategic review process and the work of the Committee; whether a strategic change, transaction or any outcome will result from or be consummated or implemented as a result of the strategic review process; and whether any transaction resulting from the strategic review process, if any, will ultimately enhance shareholder or stakeholder value in the long term.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies, as described in more detail in our securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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Contacts
Tokens.com Corp.
Andrew Kiguel, CEO
Email: contact@tokens.com
Jennifer Karkula, Head of Communications
Email: contact@tokens.com
