via NewMediaWire --
NextPlay Technologies, Inc.
(NASDAQ: NXTP), a digital business ecosystem for digital
advertisers, consumers, video gamers and travelers, reported that
its licensed Longroot digital token offering platform
will serve as the financial advisor and underwriter for Ample
Health’s ('Ample') proposed security token offering (STO).
Ample Health is an emerging cannabis company
operating from seed to sale in Southeast Asia. The company is
looking to use the proceeds from its STO to fund its development
and global expansion.
Longroot will be responsible for structuring the
offering and raising the initial capital to fund the STO. This will
involve developing the registration statements for all relevant
jurisdictions, including preliminary and final prospectuses. It
intends to lead Ample through the entire regulatory approval
process, and then assist in the pricing and launching the STO
through the Longroot portal.
“This Ample Health STO represents a tremendous
opportunity for us to represent a major client in the fast-growing
global cannabis space,” commented Todd Bonner, director
of Longroot (Thailand) Limited and chairman of NextPlay
Technologies. “Once complete, we believe it will represent the
first of many successful STOs for Longroot that we are currently
advancing in our pipeline.”
Ample Health looks to take advantage of the global
cannabis market which is projected to grow at a 32% compounded
annual growth rate from $28.3 billion in 2021 to $197.74 billion by
2028, according to Fortune Business Insights.
Akira Wongwan, CEO and co-founder of Ample Health,
commented: “We selected Longroot to lead our STO due to its
experienced management and well-established presence in the digital
offering marketplace, as well as its Thai federal government
licensing and oversight. Together, we believe this will ensure a
highly-successful STO and the launch of our global cannabis
platform.”
The proposed offering targets to raise between USD
$100-250 million. Longroot will receive a management and placement
fee on the proceeds raised due immediately upon closing of the
offering, which is expected to occur by the summer of
2022.
Disclaimer
The information included in the press release is
for informational purposes only. It is not intended to be, nor
should it be construed as, an offer or solicitation for the
purchase or sale of any financial instrument, security or digital
currency, or as an official confirmation of any transaction. All
market information, data and other information included herein are
not guaranteed as to completeness or accuracy and are subject to
change without notice.
This press release is not an offer of securities
for sale in the United States. Securities may not be offered or
sold in the United States absent registration or an exemption from
registration. Any public offering of securities to be made in the
United States will be made by means of a prospectus that may be
obtained from Ample Health and will contain detailed information
about the company and management, as well as financial
statements.
About Ample Health
Ample Health is an emerging cannabis company
operating from seed to sale in Southeast Asia. It is focused on
bringing synergy between growers, extractors, retailers and
regulators, to help them compete in the domestic and international
cannabis market and creating a fair and sustainable industry for
all.
About Longroot
Authorized and regulated under global-leading Thai
federal digital asset business law and licensed by the Securities
& Exchange Commission of Thailand, Longroot (Thailand) Limited
provides fully regulated and licensed digital asset financing and
investment services for digital assets. Longroot is focused on
creating regulated cryptocurrencies used in wholesale travel, real
estate and hotels, gaming assets, insurance and digital
advertising. As a Thailand-based corporation, Longroot is
indirectly controlled by NextPlay Technologies. For more
information, go to longroot.co.th.
About NextPlay Technologies
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a
technology solutions company offering games, in-game advertising,
crypto-banking, connected TV and travel booking services to
consumers and corporations within a growing worldwide digital
ecosystem. NextPlay’s engaging products and services utilize
innovative AdTech, Artificial Intelligence and Fintech solutions to
leverage the strengths and channels of its existing and acquired
technologies. For more information about NextPlay Technologies,
visit www.nextplaytechnologies.com and follow us
on Twitter @NextPlayTech and LinkedIn.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of, and within the safe harbor
provided by the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements give our current
expectations, opinions, belief or forecasts of future events and
performance. A statement identified by the use of forward-looking
words including “will,” “may,” “expects,” “intends,” “projects,”
“anticipates,” “plans,” “believes,” “estimate,” “should,” and
certain of the other foregoing statements may be deemed
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that
may cause actual future activities and results to be materially
different from those suggested or described in this news release.
Factors that may cause such a difference include risks and
uncertainties including, and not limited to, our need for
additional capital which may not be available on commercially
acceptable terms, if at all, which raises questions about our
ability to continue as a going concern; the fact that the COVID-19
pandemic has had, and is expected to continue to have, a
significant material adverse impact on the travel industry and our
business, operating results and liquidity; current regulation
governing digital currency activity is often unclear and is
evolving; the future development and growth of digital currencies
are subject to a variety of factors that are difficult to predict
and evaluate, many of which are out of our control; the value of
digital currency is volatile; amounts owed to us by third parties
which may not be paid timely, if at all; certain amounts we owe
under outstanding indebtedness which are secured by substantially
all of our assets and penalties we may incur in connection
therewith; the fact that we have significant indebtedness, which
could adversely affect our business and financial condition; our
revenues and results of operations being subject to the ability of
our distributors and partners to integrate our alternative lodging
rental (ALR) properties with their websites, and the timing of such
integrations; uncertainty and illiquidity in credit and capital
markets which may impair our ability to obtain credit and financing
on acceptable terms and may adversely affect the financial strength
of our business partners; the officers and directors of the Company
have the ability to exercise significant influence over the
Company; stockholders may be diluted significantly through our
efforts to obtain financing, satisfy obligations and complete
acquisitions through the issuance of additional shares of our
common or preferred stock; if we are unable to adapt to changes in
technology, our business could be harmed; our travel business
depends substantially on property owners and managers renewing
their listings; if we do not adequately protect our intellectual
property, our ability to compete could be impaired; our long-term
success depends, in part, on our ability to expand our property
owner, manager and traveler bases outside of the United States and,
as a result, our business is susceptible to risks associated with
international operations; unfavorable changes in, or
interpretations of, government regulations or taxation of the
evolving ALR, Internet and e-commerce industries which could harm
our operating results; risks associated with the operations of, the
business of, and the regulation of, Longroot and NextBank
International (formerly IFEB); the market in which we participate
being highly competitive, and because of that we may be unable to
compete successfully with our current or future competitors; our
potential inability to adapt to changes in technology, which could
harm our business; the volatility of our stock price; the fact that
we may be subject to liability for the activities of our property
owners and managers, which could harm our reputation and increase
our operating costs; and that we have incurred significant losses
to date and require additional capital which may not be available
on commercially acceptable terms, if at all. More information about
the risks and uncertainties faced by NextPlay are detailed from
time to time in NextPlay’s periodic reports filed with the SEC,
including its most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, under the headings “Risk Factors”. These
reports are available at www.sec.gov. Other unknown or
unpredictable factors also could have material adverse effects on
the Company’s future results and/or could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements. Investors are cautioned that any
forward-looking statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected. The forward-looking statements in this press release are
made only as of the date hereof. The Company takes no obligation to
update or correct its own forward-looking statements, except as
required by law, or those prepared by third parties that are not
paid for by the Company. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements.
SOURCE: NextPlay Technologies, Inc.
Company Contacts:
NextPlay Technologies, Inc.
Richard Marshall
Director of Corporate Development
Tel: (954) 888-9779
Email: richard.marshall@nextplaytechnologies.com
Ample Health
Akira Wongwan
Founder
Tel: 0869778788
Email: a.wongwan@gmail.com
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