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Thursday, 10/28/2021 9:54:59 AM

Thursday, October 28, 2021 9:54:59 AM

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Medigus to Form New Joint Venture to Trade NFT Assets, Investing up to $5M

Medigus and Safee's JV will engage in the purchase and sale of non-fungible tokens and other digital assets



Tel Aviv, Israel -- October 28, 2021 -- InvestorsHub NewsWire -- Medigus Ltd. (Nasdaq: MDGS), a technology company developing advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, announced today that it has signed a non-binding memorandum of understanding (MOU) with Safee, a technology company focused on non-fungible tokens (NFTs). Per the agreement, the parties will embark on a joint venture to trade and monetize NFTs and other digital assets.

The JV will use Safee's knowledge and platform to identify opportunities in the NFT field, and to buy, hold and monetize NFTs. Medigus will help fund the collaborative enterprise with a loan of up to $5 million for the purchase of NFTs and other digital assets. Medigus will also hold sway over management of the joint venture, appointing three of the four members of its board of directors, retaining hiring and firing rights of its CEO, and casting the decisive vote on budgetary and business planning matters.

In exchange for furnishing consulting services to the joint venture on the purchase and sale of NFTs and other digital assets, the non-binding MOU offers Safee an opportunity to buy Medigus stock. Over a period of three years, Safee may exercise the option to buy 200,000 shares of Medigus at the price of $10 per share.

Safee's mission is to expand the reach of NFTs to mass market buyers and creators, digital artists, illustrators, photographers, musicians, regular consumer digital content creators and more. Safee's social network allows creators and collectors to easily create, own, use, control and trade digital goods.

About Medigus

Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is a technology company focused on innovative growth partnerships, mainly in advanced medical solutions, digital commerce and electric vehicle markets. Medigus' affiliations in the medical solutions arena include ownership in ScoutCam Inc. and Polyzion Ltd. The Company's affiliates in digital commerce include Gix Internet Ltd., Jeff's Brands Ltd. and Eventer Technologies Ltd. In the electric vehicle market, Charging Robotics Ltd. and Revoltz are also part of the Company's portfolio of technology solution providers. To learn more about Medigus' advanced technologies, please visit http://www.medigus.com/.

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