Core Viewpoint - Eat & Beyond Global Holdings Inc. has successfully acquired 100% of Milo Media Technologies Inc., positioning itself as a first-mover in the XRPL ecosystem and enhancing its capabilities in the blockchain technology sector [1][5]. Transaction Details - The acquisition involved the issuance of 15,000,000 common shares at a deemed price of $0.185 per share and 15,000,000 common share purchase warrants, allowing holders to acquire shares at $0.075 each [2]. - There is no statutory hold period for the Payment Shares or Replacement Warrants, but 10% of the Payment Shares will become freely tradable upon filing a Business Acquisition Report, with the remaining 90% subject to a four-month hold period [3]. Strategic Significance - The acquisition grants Eat & Beyond a first-mover advantage in the XRPL ecosystem, enabling it to acquire Ripple (XRP) through participation in the XRP network, similar to Bitcoin mining [5]. - The launch of Liquid Link, the new name for Milo Media, aims to facilitate user interaction with the XRPL and enhance utility for everyday users, developers, and institutions [6][7]. Product Development - Liquid Link is developing Xrpfy, a platform designed for the XRP Ledger, which will allow users to search for real-world assets, stablecoins, and Web3 tokens, as well as identify trading routes and arbitrage opportunities [8][9]. - Future versions of Xrpfy may incorporate AI capabilities to improve user interaction with the XRPL [9]. Market Opportunity - The global market for tokenized assets is projected to exceed $16 trillion by 2030, with the XRP Ledger positioned to lead this transformation due to its fast and low-cost transaction environment [12]. - Xrpfy aims to provide tools for individuals and businesses to confidently engage in the Web3 economy [13]. Launch Timeline - The Xrpfy platform is currently under development and is expected to launch by the end of Q2 2025 [14]. Company Overview - Eat & Beyond is a publicly traded investment issuer focused on equity investments in innovative food tech, sustainability, and technology sectors, now expanding into blockchain technology through Liquid Link [22].
EAT & BEYOND COMPLETES THE ACQUISITION OF 100% OF MILO MEDIA TECHNOLOGIES INC.
Globenewswire·2025-05-07 11:30