Medigus to Form New Joint Venture to Trade NFT Assets, Investing up to $5M
28 October 2021 - 10:45PM
Medigus Ltd. (Nasdaq: MDGS), a technology company developing
advanced medical solutions, innovative internet technologies, and
electric vehicle and charging solutions, announced today that it
has signed a non-binding memorandum of understanding (MOU) with
Safee, a technology company focused on non-fungible tokens (NFTs).
Per the agreement, the parties will embark on a joint venture to
trade and monetize NFTs and other digital assets.
The JV will use Safee’s knowledge and platform
to identify opportunities in the NFT field, and to buy, hold and
monetize NFTs. Medigus will help fund the collaborative enterprise
with a loan of up to $5 million for the purchase of NFTs and other
digital assets. Medigus will also hold sway over management of the
joint venture, appointing three of the four members of its board of
directors, retaining hiring and firing rights of its CEO, and
casting the decisive vote on budgetary and business planning
matters.
In exchange for furnishing consulting services
to the joint venture on the purchase and sale of NFTs and other
digital assets, the non-binding MOU offers Safee an opportunity to
buy Medigus stock. Over a period of three years, Safee may exercise
the option to buy 200,000 shares of Medigus at the price of $10 per
share.
Safee’s mission is to expand the reach of NFTs
to mass market buyers and creators, digital artists, illustrators,
photographers, musicians, regular consumer digital content creators
and more. Safee’s social network allows creators and collectors to
easily create, own, use, control and trade digital goods.
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is
a technology company focused on innovative growth partnerships,
mainly in advanced medical solutions, digital commerce and electric
vehicle markets. Medigus’ affiliations in the medical solutions
arena include ownership in ScoutCam Inc. and Polyzion Ltd. The
Company’s affiliates in digital commerce include Gix Internet Ltd.,
Jeff’s Brands Ltd. and Eventer Technologies Ltd. In the electric
vehicle market, Charging Robotics Ltd. and Revoltz are also part of
the Company’s portfolio of technology solution providers. To learn
more about Medigus’ advanced technologies, please
visit http://www.medigus.com/.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Medigus uses
forward-looking statements in this press release when it suggests
the potential for the investment in Safee may or will lead to
profitable growth in the future. Because such statements deal with
future events and are based on Medigus’ current expectations, they
are subject to various risks and uncertainties, and actual results,
performance or achievements of Medigus could differ materially from
those described in or implied by the statements in this press
release.
The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed in any filings with the
Securities and Exchange Commission (“SEC”). Except as otherwise
required by law, Medigus undertakes no obligation to publicly
release any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events. References and links to
websites have been provided as a convenience, and the information
contained on such websites is not incorporated by reference into
this press release. Medigus is not responsible for the contents of
third-party websites.
Company Contact: Tali DinarChief Financial
Officer+972-8-6466-880ir@medigus.com
Investor Relations Contact:Miri SegalCEOMS-IR
LLC+1-917-607-8654msegal@ms-ir.com
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