Moss Genomics Provides Corporate Update and Announces Shift in Business Strategy
January 24, 2025 4:20 PM EST | Source: Moss Genomics Inc.
Vancouver, British Columbia--(Newsfile Corp. - January 24, 2025) - Moss Genomics Inc. (CSE: MOSS) (FSE: F73) (the "Company" or "Moss") is pleased to provide an update on the Company's operations and business strategy.
Corporate Update
Further to the Company's news release dated December 24, 2024, the Company anticipates closing its non-brokered private placement of 2,500,000 common shares at a price of $0.10 per common share (the "Private Placement") for gross proceeds to the Company of $250,000 near the end of January. Concurrently with closing of the Private Placement, the Company anticipates closing its acquisition of 160 Ethereum cryptocurrency ("ETH") in consideration for the issuance of 7,840,000 common shares (the "ETH Acquisition").
The Company anticipates utilizing the proceeds from the Private Placement for general working capital purposes and anticipates staking the ETH to generate revenue for the company.
New Business Strategy
In connection with the Company's recent appointment of Jack Liu as Chief Executive Officer, Moss is excited to announce a shift in its business strategy, including its intended use of ETH as part of its proposed treasury management system, its plans to pursue additional strategic opportunities in the blockchain and cryptocurrency market sector and its plans to leverage the Ethereum blockchain to advance and strengthen its existing genomics business.
Ethereum Treasury Management System
As part of the Company's new business strategy, Moss is excited to announce the launch of its Ethereum treasury division and a commitment to expand treasury financing operations using ETH as its primary strategic asset. As demonstrated by its proposed ETH Acquisition, management of the Company believes that ETH represents a viable alternative to traditional fiat currencies. The Company believes that its Ethereum treasury division is complementary to its existing business model by providing the Company with an alternative source of financing, access to a different investor base in the Ethereum community and investment upside for its ETH holdings that exceed its short-term capital requirements.
Moss is committed to growing its holdings of ETH using an assortment of financial tools at its disposal, including share acquisitions and convertible debt.
Cryptocurrency and Blockchain Opportunities
"We see significant value in maintaining our treasury reserves in ETH, given its unique position as the world's leading platform for decentralized applications and smart contracts. In addition to the treasury, we believe the utility of the Ethereum network can play an important role in our product offerings." said CEO Jack Liu.
In addition to the Company's plans for future acquisitions of Ethereum, the Company intends on using its robust balance sheet to identify OpCo acquisitions and additional opportunities in the Ethereum and blockchain ecosystem.
As the Company moves forward with implementation of its new business strategy and pursues new opportunities in the cryptocurrency and blockchain market, management anticipates that the Company's business will shift from that of a life sciences company to an investment issuer. The Company expects that upon identifying an opportunity that aligns with management's goals, the Company will make an application to the CSE to complete a change of business to that of an investment issuer.
Genomics Model
Since its initial listing on the Canadian Securities Exchange ("CSE") in January, 2023, Moss has operated exclusively in the consumer healthcare market by offering personalized health, anti-aging and wellness products guided by genomic, microbiome, and epigenome data. As part of the Company's new business strategy, Moss will continue to advance its genomics business but will leverage the infrastructure of the Ethereum blockchain in order to provide users with additional privacy and transparency for user-controlled data.
About Moss Genomics Inc.
Moss is a biotechnology company utilizing Artificial Intelligence, Genomic, Microbiome, and a diverse array of health data to develop unique and innovative health solutions. By integrating blockchain and advanced treasury strategies, Moss seeks to leverage modern advancements in technology in the life sciences industry.
For further information concerning Moss and its business please view the Company's website at mossgenomics.com and its SEDAR+ profile at www.sedarplus.ca or contact us at:
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the Company's intention to complete the ETH Acquisition and the issuance of common shares in consideration therefor; the Company's intention to complete the Private Placement; the anticipated timing of closing of the ETH Acquisition and the Private Placement; the Company's expected use of proceeds from the Private Placement and the Company's expected use of ETH; the Company's plans to utilize the Ethereum blockchain to supplement and strengthen the Company's genomics business; the Company's plans to utilize ETH as an alternative to traditional fiat currency; the Company's plans with respect to future acquisitions of ETH and investments in the cryptocurrency and blockchain market; the Company's plans with respect to becoming an investment issuer and making the necessary change of business filings with the CSE; and other matters.
The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. As a result, there can be no assurance that such statements will prove to be accurate. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will complete the ETH Acquisition and the Private Placement on the proposed terms, or at all; that the Company will use the proceeds from the Private Placement as disclosed; that the Company will use the acquired ETH as disclosed; that the Company will have the necessary resources to carry out its business plans; that Moss will be able to obtain all necessary corporate, shareholder and regulatory approvals required to carry out its business plans; that the Company will be able to obtain the requisite approvals to carry out a change of business to that of an investment issuer; and the demand for ETH will be consistent with management's expectations.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: the risk that Moss will be unable to close the ETH Acquisition and the Private Placement on the timeline specified, or at all; the risk that the Company will require regulatory or shareholder approval to effect its proposed business plan and the Company is unable to obtain such approvals; the risk that Moss will not have access to all of the required resources to carry out its business plans; the risk that the Company will not be able to leverage the Ethereum blockchain to strengthen the Company's genomics business or that it will be unable to do so effectively; the risk that ETH does not develop into an effective alternative to traditional fiat currencies; the risk of fluctuations in the value of ETH; the risk that the Company is unable to acquire additional ETH, or alternative cryptocurrencies, on advantageous terms; the risk that the Company will be unable to obtain the requisite approvals to complete a change of business to that of an investment issuer; cybersecurity risks associated with cryptocurrency holdings; and the risk that Moss' business plans will change. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, changes in the financial markets and changes in laws, regulations and policies affecting the Company's operations and the Company's limited operating history. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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