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Highlights
- Moss appoints Jack Liu as CEO and Director, marking a new chapter for the company.
- Launches Moss Ethereum treasury division with the acquisition of 160 ETH for CDN$784,000.
- Non-brokered private placement offering up to $250,000 in proceeds.
Moss Genomics Inc. (CSE: MOSS) today announced the appointment of Jack Liu as the new CEO and Director of the company, effective immediately. This leadership change marks an important step forward for the company as it expands its focus into the growing Ethereum space with the launch of its new Moss Ethereum treasury division. This division is designed to enable Moss Genomics to leverage Ethereum’s blockchain technology and integrate it into its strategic operations, reinforcing its position in the Web3 ecosystem.
Ethereum Treasury Acquisition
As part of its new strategic direction, Moss has entered into an arms-length asset purchase agreement to acquire 160 ETH (Ethereum) for its treasury at a price of CDN$4,900 per ETH. In exchange, the company will issue 7,840,000 common shares at a deemed price of CDN$0.10 per share, totaling an aggregate purchase price of CDN$784,000. This acquisition reflects the company’s commitment to blockchain technology and its growing importance in decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs). Ethereum’s unique position as a decentralized smart contract platform makes it a powerful tool for driving innovation in the Web3 space.
Leadership Transition
In connection with this leadership transition, Mark Tommassi has resigned as CEO and Director. The Company expressed its gratitude to Mr. Tommassi for his contributions and wished him well in his future endeavors. Jack Liu’s appointment as CEO positions the company for future growth, especially as it expands its strategic focus into the Ethereum ecosystem and Web3 technologies.
Private Placement Offering
Moss Genomics is also pleased to announce a non-brokered private placement offering of up to 2,500,000 common shares at a price of $0.10 per share, for aggregate proceeds of up to $250,000. This offering is expected to close in one or more tranches and is subject to approval by the Canadian Securities Exchange. All securities issued under the offering will be subject to a statutory hold period of four months plus one day. In addition, the company may pay finders’ fees in accordance with the Exchange’s policies. The funds raised from the private placement will be used for general working capital purposes, enabling the company to continue expanding its operations and support its Ethereum treasury division.
Stock Option Grant
Further strengthening its leadership and operational team, Moss Genomics has granted a total of 600,000 stock options to certain directors, officers, and consultants of the company. The options are exercisable at a price of $0.10 per common share for a period of five years, providing strong incentives for the team to contribute to the company’s success.
