FirstShot Fund Inc. Announces Corporate Updates
Kelowna, British Columbia--(Newsfile Corp. - March 2, 2020) - FirstShot Fund Inc. ("FirstShot" or the "Company") announces the following corporate updates:
A $2 million debenture opportunity has been made available to existing shareholders and other qualifying investors, with 10% Interest, payable monthly; a 2 year term, secured by assets, with a conversion feature of every dollar of the debenture convertible into one unit, consisting of one common share and one common share purchase warrant. Each warrant shall be exercisable into one common share at an exercise price of $0.90/share and shall expire 12 months from the date of conversion. Subject to applicable securities regulations, shareholders and investors may invest any amount they wish. Additional information is available from firstname.lastname@example.org.
Jamie Lippay has stepped down as Chief Executive Officer effective January 16, 2020. "Jamie was the perfect addition as a CEO for the Company, but he lives in Toronto and FirstShot is located in Kelowna. We were hopeful that the long distance dynamics could work but it has been cumbersome. I wish Jamie could just move to Kelowna!", says Brian Lovig, Director. At this time, the Board of Directors of the Company is in the process of recruiting a new CEO. Brian Lovig has consented to act as the interim CEO as the Company searches for a permanent replacement.
FirstShot has acquired the domain names and rights to firstshottoken.io and firstshottoken.com. FirstShot has also created a wholly-owned subsidiary, FirstShot Centers, LLC, incorporated in the State of Nevada, U.S.A. and a Digital Asset Division platform and compliance solution for the financing of acquisitions and repurposing of empty and undervalued big box retail properties, located in the United States.
The FirstShot Token is an STO. This is a digitized, asset-backed security that utilizes Blockchain technology. STO is the abbreviation and brand for Securitized Token Offering. Liquidity is provided by Token Exchanges with a trading platform similar to those of a typical Stock Exchange. FirstShot is reviewing listing requirements of several Token Exchanges and anticipates making application to tzero, NYSTIX and the Malta Digital Exchange. FirstShot has engaged a platform service provider, transfer agent, blockchain / token attorney and a CEO. FirstShot has made application to the Securities Exchange Commission (SEC) in the U.S. and subject to regulatory approval and compliance, FirstShot Tokens are expected to be available for trading in 2020. The proposed White Paper and offering documentation is for $400 million USD raised in $20 million USD tranches for a total issuance of 400 million tokens at $1 USD per token. Additional tokens will be issued to FirstShot. The use of funds shall be for the purchase of properties which in turn secure the token amounts with certain terms and conditions. Shares and Tokens are intended to trade on respective exchanges.
Listing Llama Ltd. has acquired the domain names and rights to Llamatoken.io and llamatoken.com. Listing Llama has also created a subsidiary, Listing Llama, LLC, incorporated in the State of Nevada, U.S.A. on February 26, 2020 and a Digital Asset Division platform and compliance solution for financing the completion of software development and marketing launch in Canada and the U.S. Listing Llama, LLC has engaged a platform service provider, transfer agent, blockchain / token attorney and a CEO. Listing Llama, LLC will shortly make application to the Securities Exchange Commission (SEC) in the U.S. and subject to regulatory approval and compliance, Llama Tokens are expected to be available for trading in 2020. The proposed White Paper and offering documentation is for $20 million USD (Series A) for a total issuance of 20 million tokens at $1 USD per token. Additional tokens will be issued to Listing Llama. The use of funds shall be for capital to further develop and expand the platform based upon and from the success of the test version, and to expand the territory and launch national marketing and advertising programs in the U.S. and Canada. General working capital is included. Listing Llama is reviewing listing requirements of several Token Exchanges and anticipates making application to tzero, NYSTIX and the Malta Digital Exchange. Tokens are intended to trade on these exchanges.
ABOUT FIRSTSHOT: FirstShot is a reporting issuer whose business model is to create and acquire unique investments and development properties in the real estate industry. The Company has a sound and driven management team with experience in all facets of real estate who will be conducting due diligence and considering acquisitions of distressed and vacant mall properties in Canada and the U.S. to be repurposed for destination sites where goods and services are not generally available on the internet or in conventional shopping centres.
NO SECURITIES REGULATORY AUTHORITY OR STOCK EXCHANGE HAS APPROVED OR DISAPPROVED OF THE INFORMATION CONTAINED IN THIS NEWS RELEASE OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to FirstShot within the meaning of applicable securities laws, including its plans for development and acquisition of vacant and distressed shopping centers. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in FirstShot's public filings under FirstShot Fund Inc.'s SEDAR profile at www.sedar.com. Although FirstShot has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. FirstShot disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53067