Liquid Avatar Technologies Opens Its Series A Financing in Aftermath Islands Metaverse and Receives Lead Share Purchase Agreement

Liquid Avatar Technologies Opens Its Series A Financing in Aftermath Islands Metaverse and Receives Lead Share Purchase Agreement
Investment confirms approximate value of Aftermath Islands at $53 Million CDN

Toronto, Ontario and Bridgetown, Barbados--(Newsfile Corp. - April 17, 2023) - Liquid Avatar Technologies Inc. (CSE: LQID) (OTCQB: LQAVF) (FSE: 4T5) ("Liquid Avatar" or the "Company") is pleased to announce that its controlled subsidiary, Aftermath Islands Metaverse Limited ("Aftermath Islands") confirms receipt of a share purchase agreement for its lead investor in its private Series A round financing, at approximately $4.50 CDN per ordinary share. The lead investor is the principal of a Family Office and group of privately held funds in the UK and EU and includes an option to increase their position based on the Company reaching certain milestones, which the Company is well underway to achieving, but cannot be guaranteed. The purchase agreement values Aftermath Islands Metaverse Limited currently at approximately $53,000,000 CDN.

Aftermath Islands Metaverse Limited is continuing to work with additional VCs, Family Office, and High Net Worth Individuals to support the raise in its Series A round of up to $6,000,000 USD in aggregate, with approval to increase to a maximum of $7,500,000 USD and will provide further updates as they become available.

As part of the current Series A financing terms, Oasis Digital Studios Limited, a wholly owned subsidiary of Liquid Avatar Technologies Inc. will not be diluted in its equity position in Aftermath Islands Metaverse Limited in the Series A round of funding, retaining 50% of the ordinary, or common shares, with Aftermath Islands remaining a controlled subsidiary of Liquid Avatar.

Since its inception, Aftermath Islands has taken its own, unique path to providing a Web3 experience by developing and incorporating leading technologies that have created an open world platform that confirms, through its partnership with Liquid Avatar, that everyone on the platform can control and manage their digital footprint using biometrics with no username or password for signing into the platform. The Liquid Avatar Mobile App, available in over 100 countries and regions globally via the Apple Store and Google play, provides a Proof of Humanity process, the Meta Park Pass TM, which creates a high level of assurance that all players are individual, real people, reducing fraud, fake and duplicate accounts, and bots.

Aftermath Islands has generated over $2 million in retail sales, over 7,800 platform purchases, and provided high-fidelity gaming graphics for a real-world virtual experience with no download, making it accessible by a wide variety mobile, tablets and computers. Aftermath Islands has successfully launched its first servers and has incorporated Artificial Intelligence ChatGPT3 to enable Non-Player Characters (NPCs) to engage with players as subject matter experts. The platform also allows instant connections to legacy Web2 websites, eCommerce platforms, search engines, ticketing systems, gaming platforms, educational institutions, social media and more to create a holistic 360-degree experience for consumers and businesses.
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