EV Biologics Updates on NFT Dividend

Rhea-AI Summary

EV Biologics Corp (YECO) provided an update on its NFT dividend, awaiting FINRA approval for distribution. Shareholders of record as of July 30, 2021, are eligible to receive one Warrant for every 100 shares held, with each Warrant entitling them to an NFT valued at $300. The company has minted 72,253 NFTs, marking a significant achievement in the NFT space. The NFT, named rEVerie, symbolizes advancements in extracellular vesicle technology. No dividend date has been confirmed yet.

Positive

• Shareholders will receive NFTs valued at $300, enhancing shareholder engagement.
• Successful minting of 72,253 NFTs signifies industry leadership in the NFT sector.

Negative

• Approval from FINRA is still pending, delaying dividend distribution.
• Shareholders must hold a minimum of 100 shares to qualify, limiting accessibility.

NASHVILLE, TN / ACCESSWIRE / November 12, 2021 / EV Biologics Corp, (OTC PINK:YECO), today updated shareholders with further details about its NFT dividend.

The Company is still awaiting approval from FINRA for the distribution of the dividend. This is the first time that any public company has attempted to distribute a NFT digital asset as a dividend. As soon as FINRA approves the distribution of the dividend, the Company will issue the NFT to its shareholders. As previously announced, YECO's shareholders-of-record on July 30, 2021, will receive a Warrant to exercise their right to accept ownership of the NFT.

The Company will distribute one (1) Warrant for every 100 shares of YECO common stock held. Each Warrant will be exercisable for one (1) NFT worth $300. Shareholders possessing less than 100 shares will not be eligible for this special dividend.

The Company will confirm when the Warrant is distributed.

Our NFT development team has completed the minting of the NFT, designated rEVerie, on the Ghostmarket.io platform. The Company minted 72,253 NFTs on this platform for distribution as a dividend. To our knowledge, this is single biggest NFT minting in history.

https://ghostmarket.io/asset/pha/GHOST/6171981787830064835909137563264475065806956178317482650540839815776392813098/.

rEVerie depicts the essence of extracellular vesicle (EV) science & technology, illustrating stem cells as they appear with fluorescent microscopy. Beyond capturing the stunning visual quality intrinsic to this biological system, the synchronized release of EVs signifies the harmony of intercellular communication they mediate in nature. rEVerie alludes to the fundamental aspects of EV biotechnology that will deliver the next generation of biotherapeutics to conquer aging, disease, and injury.

This NFT was created to commemorate an early stage of our technological progress, and to issue as a dividend to shareholders as a token of our appreciation for their continuing support of our development of EV-based therapeutics.

Please preview the rEVerie NFT: https://www.evbiologics.com/business/.

About the Company

EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, intent on developing and enhancing the intrinsic therapeutic activity of mesenchymal stromal cell (MSC) secreted factors, as well as targeted delivery of bioactive molecules using engineered exosomes. The company is working to optimize cell lines for production of native bioactive nanoparticles and to establish an exosome engineering platform to enhance specific therapeutic activity. Initially, these novel regenerative products will be produced for preclinical research on a number of clinical indications. Using proprietary and patentable technologies, the Company is creating exclusive IP and IT inherent in these bioengineered products. Further product development will be focused on investigation of novel stem cell-derived biopharmaceuticals designed for specific clinical conditions.

Forward-Looking Statements

This news release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

YECO has 7.22 million shares issued and outstanding with a float of 1,016,375 shares.

Contact:

Dennis Burns
Investor Relations
Tel: (567)237-4132
dburns@nvestrain.com

SOURCE: EV Biologics Corp

View source version on accesswire.com:
https://www.accesswire.com/672558/EV-Biologics-Updates-on-NFT-Dividend

FAQ

What is the NFT dividend distribution date for YECO shareholders?

The distribution date is pending FINRA approval, with no specific date confirmed yet.

How many NFTs will be distributed to YECO shareholders?

Each eligible shareholder will receive one Warrant for every 100 shares owned, granting access to one NFT valued at $300.

What is the value of the NFT being distributed by EV Biologics?

The NFT, named rEVerie, is valued at $300.

Who is eligible to receive the NFT dividend from YECO?

Only shareholders of record on July 30, 2021, holding at least 100 shares will qualify for the NFT dividend.

What technology does the rEVerie NFT represent?

The rEVerie NFT represents advancements in extracellular vesicle technology and their role in biotherapeutics.