Boba Mint Completes Acquisition of Remaining Interest in Werd Studios

Rhea-AI Summary

Boba Mint Holdings (CSE: TNJ) has completed the acquisition of the remaining 50% equity stake in Werd Studios, a Toronto-based blockchain gaming company, for $1.4 million. The transaction was executed through the issuance of 7 million common shares at $0.20 per share to Werd Studios' CEO Andrew Shore.

The acquired company specializes in blockchain/crypto gaming, with notable projects including Cafe Disco Party, Moon Gaming (featuring Moon Poker), and Amino Rewards. The consideration shares are subject to a tiered restricted period, with 25% becoming tradeable after 6 months, another 25% after 12 months, and the remaining 50% after 18 months.

Following the transaction, Andrew Shore's ownership in Boba increased from 6.52% to 13.04% of outstanding shares, now holding 13 million shares total.

Positive

• None.

Negative

• Substantial share dilution through issuance of 7.7 million new shares
• Lock-up period extends to 18 months for half of the consideration shares
• Significant concentration of ownership with single shareholder (13.04%)

Vancouver, British Columbia--(Newsfile Corp. - July 31, 2025) - Boba Mint Holdings Ltd. (CSE: TNJ) ("Boba" or the "Company"), a leader in blockchain gaming, is pleased to announce that it has completed its previously-announced (see press release dated June 26, 2025) acquisition of the remaining 50% equity interest in Werd Studios Inc. ("Werd Studios"), a fast-growing blockchain/crypto gaming company based in Toronto, Ontario, from Mr. Andrew Shore, the CEO and founder of Werd Studios.

As previously disclosed (see January 17, 2025 and March 5, 2025 press releases), Boba acquired an initial 50% equity stake in Werd Studios through a combination of a share purchase from Mr. Shore and a share subscription in Werd Studios.

Werd Studios is led by Mr. Shore, a successful technology entrepreneur specializing in gaming and blockchain and an industry thought leader. Werd Studios is developing, on its own and in collaboration with others, several exciting new blockchain/crypto games. Werd Studios' most advanced game is its interest in Cafe Disco Party, a fast-paced and thrilling adventure where players manage lively cafe parties in a vibrant, imaginary world.

Werd Studios also has interests in Moon Gaming and Amino Rewards. Moon Gaming is at the forefront of innovation in the mobile gaming industry. The debut creation, Moon Poker, redefines the entertainment landscape by offering a thrilling mobile video game that not only immerses players in a cosmic world, but also presents real cash prizes in hyper-turbo tournaments. Amino Rewards is a health and fitness focused platform that leverages blockchain to promote a healthy lifestyle.

The purchase price for the remaining 50% equity interest in Werd Studios from Mr. Shore is $1,400,000, which has been satisfied by the issuance of 7,000,000 common shares of Boba on a private placement basis (the "Consideration Shares"), at an issue price of $0.20 per share (the "Transaction"). The 7,000,000 Consideration Shares issued to Mr. Shore are subject to a contractual restricted period whereby (i) 25% of the Consideration Shares will become freely tradeable on the date which is 6 months following closing, (ii) an additional 25% of the Consideration Shares will become freely tradeable on the date which is 12 months following closing, and (iii) the remaining 50% of the Consideration Shares will become freely tradeable on the date which is 18 months following closing.

"We are very pleased to have completed the acquisition of the remaining 50% equity interest in Werd Studios. The Boba Mint team is excited to continue supporting Andrew and the Werd Studios team now that Werd Studios is a wholly-owned subsidiary of Boba Mint," said Rody Lazar, CEO of Boba.

Certain arm's length advisors to Boba received an aggregate of 700,000 common shares, at an issue price of $0.20 per share, as advisory fees in connection with the closing of the Transaction. The foregoing shares are subject to resale restrictions of four months and one day, as contemplated by applicable securities laws and the policies of the CSE.

Required Early Warning Information

Immediately prior to the Transaction, Mr. Shore owned 6,000,000 common shares of Boba, representing approximately 6.52% of the issued and outstanding common shares of Boba. Following the completion of the Transaction, Mr. Shore owns 13,000,000 common shares of Boba, representing approximately 13.04% of the issued and outstanding common shares of Boba.

Mr. Shore may or may not acquire or dispose of common shares of Boba in the future through the open market or in private transactions, as circumstances or market conditions warrant. Depending on market conditions, general economic and industry conditions, the Company's business and financial condition and/or other relevant factors, Mr. Shore may develop other plans or intentions in the future relating to one or more of the above items.

Further to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Mr. Shore will file an early warning report in accordance with applicable securities laws. A copy of the early warning report will be filed with the applicable securities commissions and will be made available on SEDAR+ at www.sedarplus.ca. Further information and a copy of the early warning report may be obtained by contacting Andrew Shore, 71 Thornbank Road, Thornhill, Ontario L4J 2A1, telephone: 647-548-8335.

Boba's head office is located at Suite 1100 – 1111 Melville Street, Vancouver, British Columbia V6E 3V6.

About Boba Mint Holdings Ltd.

Boba Mint Holdings Ltd. is a forward-thinking blockchain gaming and digital innovation company. With a 50% ownership of WERD Studios, Boba Mint is dedicated to pushing the boundaries of mobile technology, entertainment, and the Web3 space. The Company is also actively involved in strategic investments within the AI and blockchain sectors, including Cherry Labs' Telegram-based bot ecosystem.

On Behalf of the Board of Directors,

Boba Mint Holdings Ltd.

"Rody Lazar" CEO

For further information, please contact:

Rody Lazar - CEO
Phone: 1-800-556-1015
Email: info@bobamint.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for this release's adequacy or accuracy.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Boba's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Such statements include those relating to game development and the Company's expectations and plans. Although Boba believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments in the blockchain sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mobile video game industry and markets in Canada and generally; the ability of Boba to implement its business strategies; competition; and other assumptions, risks and uncertainties. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Boba' Form 2A Listing Statement dated April 19, 2024 which is available on Boba's profile at http://www.sedarplus.ca and on the CSE website at https://thecse.com/listings/boba-mint-holdings-ltd/.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction. None of the securities issued in the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.

We seek Safe Harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260809

FAQ

What is the value of Boba Mint's acquisition of Werd Studios' remaining stake?

Boba Mint acquired the remaining 50% stake in Werd Studios for $1.4 million, paid through the issuance of 7 million common shares at $0.20 per share.

How many shares does Andrew Shore own in Boba Mint after the acquisition?

Following the acquisition, Andrew Shore owns 13 million common shares of Boba Mint, representing approximately 13.04% of the company's outstanding shares.

What are the main gaming projects under Werd Studios?

Werd Studios' main projects include Cafe Disco Party (cafe management adventure game), Moon Gaming (featuring Moon Poker with real cash prizes), and Amino Rewards (blockchain-based health and fitness platform).

What are the lock-up terms for the consideration shares issued in the Werd Studios acquisition?

The shares have a tiered release: 25% after 6 months, another 25% after 12 months, and the remaining 50% after 18 months from closing.

Who is leading Werd Studios and what is their background?

Werd Studios is led by Andrew Shore, a technology entrepreneur specializing in gaming and blockchain who serves as CEO and founder of the company.