SUNRISE, Fla., Jan. 27, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — NextPlay Technologies, Inc. (NASDAQ: NXTP), a digital commerce ecosystem for digital advertisers, consumers, video gamers and travelers, reported that its license long root The Digital Token Offering Platform will serve as financial advisor and underwriter for the Security Token Offering (STO) offered by Ample Health (“Ample”).
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 initial capital to fund the STO. This will involve developing registration statements for all relevant jurisdictions, including preliminary and final prospectuses. He intends to lead Ample through the regulatory approval process and then help with pricing and the launch of the STO through the Longroot portal.
“This Ample Health STO represents a tremendous opportunity for us to represent a major customer in the growing global cannabis space,” commented Todd Bonner, Director of Longroot (Thailand) Limited and President of NextPlay Technologies. “Once completed, we believe it will represent the first of many successful STOs for Longroot that we are currently moving forward through our pipeline.”
Ample Health is looking to tap into the global cannabis market, which is expected to grow at a compound annual growth rate of 32% 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, said, “We chose Longroot to lead our STO because of their experienced management and established presence in the digital offering market, as well as their license and its supervision by the Thai federal government. Together, we believe this will ensure a very successful STO and the launch of our global cannabis platform.
The proposed offering aims to raise between 100 and 250 million US dollars. Longroot will receive management and placement fees on the proceeds raised immediately following the closing of the offering, which is expected to occur by summer 2022.
The information contained in the press release is for informational purposes only. It is not intended to be, and should not 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 is not guaranteed to be complete or accurate and is subject to change without notice.
This press release does not constitute 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 in the United States will be made by means of a prospectus which 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 aims to create synergy between producers, extractors, retailers and regulators, to help them compete in the national and international cannabis market and create a fair and sustainable industry for all.
Authorized and regulated under Thailand’s Federal Digital Assets Act and licensed by the Securities & Exchange Commission of Thailand, Longroot (Thailand) Limited provides fully regulated and licensed digital asset financing and investment services for assets digital. Longroot is focused on creating regulated cryptocurrencies used in wholesale travel, real estate and hotels, gambling assets, insurance, and digital advertising. As a Thailand-based company, Longroot is indirectly controlled by NextPlay Technologies. For more information, visit longroot.co.th.
About NextPlay Technologies
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company providing gaming, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and businesses across the world. growing global digital ecosystem. NextPlay’s engaging products and services use 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.
This press release contains “forward-looking statements” within the meaning and scope of 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, beliefs or forecasts regarding future events and performance. A statement identified by the use of forward-looking words such as “will”, “may”, “expect”, “intend”, “project”, “anticipate”, “plan”, “believe” , “estimates”, “should”, and certain of the other preceding statements may be considered forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to differ materially from those suggested or described in this press release. . Factors that could cause such a difference include risks and uncertainties, including, but 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 our business; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a material adverse impact on the travel industry and our business, results of operations and liquidity; current regulations governing digital currency activity are often unclear and evolving; the future development and growth of digital currencies is subject to a variety of factors that are difficult to predict and assess, many of which are beyond our control; the value of digital currency is volatile; amounts owed to us by third parties which may not be paid on time or at all; certain amounts we owe for unpaid debt that are secured by substantially all of our assets and any penalties we may incur in connection therewith; our being heavily indebted, 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 accommodation rental (ALR) properties into 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 impair the financial strength of our business partners; the Company’s officers and directors have the ability to exercise significant influence over the Company; shareholders may be significantly diluted by our efforts to obtain financing, meet our obligations and make acquisitions by issuing additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could suffer; our travel business is largely dependent 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 owner, manager and traveler bases outside of the United States and, therefore, our business is sensitive to the risks associated with international operations; changes or adverse interpretations of governmental regulations or taxation of the evolving ALR, Internet and e-commerce industries that could adversely affect our results of operations; risks associated with the operations, businesses and regulations of Longroot and NextBank International (formerly IFEB); the market in which we participate is highly competitive, and because of this, we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could adversely affect our business; the volatility of our stock price; that we may be held liable for the activities of our property owners and managers, which could damage 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. Further information about the risks and uncertainties facing NextPlay is 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 its quarterly reports on Form 10. -Q, under “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unpredictable factors could also materially adversely affect 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 forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected. The forward-looking statements contained in this press release speak only as of the date hereof. The Company undertakes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties who are not paid by the Company. If we update one or more forward-looking statements, no conclusion should be drawn that we will make additional updates with respect to such or other forward-looking statements.
SOURCE: NextPlay Technologies, Inc.
Company details :
NextPlay Technologies, Inc.
Director of Corporate Development
Tel: (954) 888-9779
Email: [email protected]
Email: [email protected]