MetaWorks Responds to OTC Markets Request on Recent Promotional Activity
Fairfield, CA., May 09, 2023 (GLOBE NEWSWIRE) -- MetaWorks Platforms, Inc. (“MetaWorks” or the “Company”) (CSE and OTCQB: MWRK), an award-winning Web3 company that owns and operates blockchain platforms in the entertainment technology space, announced that it has been requested by OTC Markets Group Inc. ("OTC Markets") to issue this statement about promotional activity concerning its common shares traded on the OTCQB market (operated by OTC Markets).
On Monday, May 8th, 2023, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common shares traded on the OTCQB Marketplace, including the distribution of emails published by National Inflation Association discussing the Company, its business and specifically its ticketing and wallet platform to be used at the Freaknik Festival on May 7th, 2023 as well as its other activities generally.
On April 28, 2023, the Company entered into an advertising agreement with a consultant, National Inflation Association ("NIA"), whereby NIA would provide advertising services designed to draw attention to the Company and its products and services. NIA is a third-party marketing and advertising firm. The Agreement calls for 2 payments of
The Company provided the consultant with publicly available sources of information for its marketing materials. Consultant used publicly available industry sources for its content. The Company does not believe the statements in the marketing materials and emails were materially false or misleading. The Company did not have any editorial control or review of the information that was finalized and distributed by NIA.
After inquiry of management, other than as disclosed herein, no directors, control persons, officers, controlling shareholders or third-party service providers have been involved with the creation, distribution, or payment of promotional materials related to the Company and its securities.
The Company understands this promotional activity coincided with increased trading activity in the common shares beginning on May 5, 2023. The Company does not believe the promotional activities were the only factor in any increase in trading volume in the common shares. Rather, the Company believes the promotional materials drew attention to the Company's recent activities which have been disclosed in recent news releases and regulatory filings, causing an increase in trading volume. In particular, on April 19, 2023 the Company announced that it has been Chosen as the “Official Ticketing, Wallet and NFT Partner for FreakNik Festivals Documentary FreakNik: The Wildest Party Never Told to Air on Hulu”. This event was held on May 7th and received national media attention and coverage.
The Company confirms after inquiring with its management, its officers, directors and any controlling shareholders that none of them have sold or purchased the Company’s securities within the past 90 days
The Company currently does not have any third-party providers engaged by the Company to provide investor relation services, public relation services, marketing or any other related services including promotional services of the Company or its securities over the past twelve months other than the engagement of National Inflation Association to provide advertising services.
The Company has not at any point issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuances.
The Company does not believe the statements in the marketing materials and emails were materially false or misleading. The Company recommends to only use materials filed on EDGAR and any official Press Releases that the Company disseminates.
About MetaWorks Platforms, Inc.
MetaWorks Platforms, Inc. (CSE: MWRK and OTCQB: MWRK) is an award-winning Web3 company that owns and operates blockchain platforms in the entertainment technology space that empower Fortune 5000 brands to create and monetize content for their communities empowering their transition to Web3. MetaWorks Platforms owns and operates movie distribution platform Vuele.io and MusicFX.io, its fan engagement platform that creates deeper connections between fans and artists using Web3 technologies.
For more information on MetaWorks, please visit us at www.metaworksplatforms.io. For additional investor info, visit www.metaworksplatform.io or www.sedar.com, and www.sec.gov, searching MWRK.
Media Contact
Arian Hopkins
arian.hopkins@metaworksplatforms.io
Company Contact
Scott Gallagher, President
scott@metaworksplatforms.io
