Longroot Thailand, Which is Indirectly Controlled by Monaker Group, Signs Engagement with Magnolia, Sets Terms for $500-$700 Million ICO Portal Crypto Offering

WESTON, FL, Jan. 11, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Monaker Group, Inc. (NASDAQ: MKGI) (‘Monaker’ or the ‘Company’), a technology solutions company, today announced Longroot Holding, Thailand ) Company Limited, a Thai company (‘Longroot’) which Monaker indirectly controls and which operates an ICO (Initial Coin Offering) portal in Thailand, has signed a formal commitment letter with MAGNOLIA QUALITY DEVELOPMENT CORPORATION (‘MQDC’) ‘MAGNOLIA ‘) to represent MQDC as financial advisor on a proposed ICO offering between $ 500 million and $ 700 million.

As financial advisor to MQDC, Longroot plans to manage MQDC’s first coin offering for Forestias, Thailand’s largest real estate development project, through its ICO portal using cryptocurrency. There are also plans to expand the ICO to other jurisdictions through syndication with properly licensed companies in each jurisdiction. Longroot receives an administration and placement fee for the proceeds generated. Longroot’s fees are due immediately upon completion of the offering, which is expected to take place in the second quarter of 2021.

MQDC, a division of DTGO Corporation Limited (DTGO), was founded in 1994 and is a renowned real estate developer based in Thailand. The portfolio includes developments ranging from condominiums to mixed-use and themed properties. MQDC residential and mixed use projects are built by its award-winning team with innovative, sustainable and safe features. The company is currently developing the Forestias worth approximately 125 billion Thai (approximately 4.12 billion USD).

Longroot’s financial services are regulated by the Securities and Exchange Commission of Thailand to create digital assets for corporate clients. These unique cryptocurrencies are expected to enable consumers to invest in unique revenue streams and potential wholesale travel, real estate houses and hotels, gaming assets and digital advertising – all complementary to Monaker’s portfolio and growth strategy.

A director and officer of DTGO controls a significant interest in HotPlay Enterprise Limited (which is a party to an outstanding stock exchange agreement with Monaker, as previously announced) (“HotPlay”) and various other related party transactions exist between DTGO and HotPlay.

For more information on Monaker’s interest in Longroot, see Monaker’s most recent report on Form 8-K, filed with the Securities and Exchange Commission on January 7, 2021, and available at www.sec.gov.

About the Monaker Group

Monaker Group, Inc. is an innovative technology-driven company that plans to create a next generation company through acquisitions and organic growth. The strengths and channels of our existing technologies are used with those we acquire to create space for synergies and opportunities in leisure time. The Monaker Group is a party to a definitive agreement (subject to closing conditions, including shareholder approval of the transaction) to acquire HotPlay Enterprise Limited, an innovative in-game advertising and ad-tech company. Upon completion of the proposed HotPlay acquisition, Monaker Group plans to transform it into NextPlay Technologies, an innovative global technology company focused on consumer video game and travel products with innovative solutions for ad tech, artificial intelligence and blockchain. For more information about the Monaker Group, visit www.monakergroup.com and follow @MonakerGroup on Twitter and Linkedin.

About MQDC

Magnolia Quality Development Corporation Limited is a business unit of DTGO Corporation Limited (DTGO) that develops, invests in, and manages villa, condominium, and mixed use projects. MQDC develops residential and mixed-use projects under the Magnolias and Whizdom brands. MQDC offers an industry leading 30 year warranty on all of its projects according to its exceptional building standards. As part of its mission to improve the quality of life for all, MQDC invests in research and development to create products and innovations for consumers and ecosystems that support green living and add value to the surrounding communities. MQDC is determined to take care of all life on earth and advance this agenda through sustainable development for the common benefit of society. More information is available at www.mqdc.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of and within the safe haven provided by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 1 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements reflect our current expectations, opinions, beliefs or predictions about future events and performance. A statement identified by the use of forward-looking words such as “will”, “may”, “expectation”, “projects”, “anticipation”, “plans”, “beliefs”, “estimates”, “should” and certain of the other statements made above may be viewed as forward-looking statements. Although Monaker believes that the expectations contained in such forward-looking statements are reasonable, these statements involve risks and uncertainties that could cause actual future activities and results to differ materially from those proposed or described in this press release. Factors that can cause such a difference include risks and uncertainties related to our need for additional capital that may not be available on commercially acceptable terms, if at all, raising questions about our ability to continue as a business. the fact that the COVID-19 pandemic has had, and is expected to continue to have, materially material adverse effects on the travel industry and our businesses, results of operations and liquidity; amounts owed to us by third parties that may not be paid or not paid on time; certain amounts that we owe as part of an outstanding debt and that are essentially secured by all of our assets; the completion of the above offer and the final terms, including consideration payable to Longroot in connection therewith; the fact that we have significant debt that could adversely affect our business and financial condition; Our sales and operating results are subject to the ability of our distributors and partners to integrate our ALR (Alternative Loding Rental) properties into their websites and the timing of such integrations. Uncertainty and illiquidity in the credit and capital markets, which can affect our ability to obtain credit and financing on acceptable terms and the financial strength of our business partners; The executives and directors of the company have the opportunity to exercise significant influence over the company. Shareholders can be significantly diluted by our efforts to raise funds, meet commitments, and complete acquisitions by issuing additional common or preferred shares. If we cannot adapt to changes in technology, our business can be affected. Our business essentially depends on property owners and managers renewing their offerings. If we do not adequately protect our intellectual property, our competitiveness can be affected. Our long-term success depends in part on our ability to expand the base of our owners, managers and travelers outside of the United States. As a result, our business is vulnerable to risks related to international activities. adverse changes or interpretations of government regulations or taxes in the evolving ALR, internet and e-commerce industries that could affect our results of operations; Risks associated with the business, business of, and regulation of Longroot; The market in which we participate is highly competitive and as a result we may not be able to successfully compete with our current or future competitors. our potential inability to adapt to changes in technology that could harm our business; the volatility of our share price; Risks associated with our pending exchange agreement with HotPlay Enterprise Limited, including our ability to complete such a transaction and dilution on such close as well as dilution due to the conversion of our outstanding Series B Preferred Shares and Series C Preferred Shares; the fact that we may be held liable for the activities of our owners and managers, which could damage our reputation and increase our operating costs; and that we have suffered significant losses to date and require additional capital that may not be available on economically acceptable terms, if at all. For more information about the risks and uncertainties Monaker faces, please refer to Monaker’s periodic reports from time to time, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q under the heading “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unforeseeable factors could also have a material adverse effect on the company’s future results and / or cause our actual results and financial position to differ materially from those expressed in the forward-looking statements. Investors are cautioned that forward-looking statements are no guarantee of future performance and that actual results or developments may differ materially from those forecast. The forward-looking statements in this press release speak only as of the date of this press release. The company assumes no obligation to update or revise its own forward-looking statements, unless required by law or prepared by third parties not paid by the company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to these or any other forward-looking statements.

Company contacts:
Monaker Group, Inc.
Richard Marshall
Corporate Development Director
Tel. (954) 888-9779

Athid Nanthawaroon
DTGO Senior Vice President

Recent articles

Crypto exchanges struggle as El Salvador adopts Bitcoin

Today, Bitcoin is becoming an official currency in El Salvador, and the markets and crypto exchanges seem to be struggling. On...

Schools are back – and time to comply with the ICO’s Age Appropriate Design Code

As of September 2, 2021, the United Kingdom's Information Commissioner's Office ("ICO") expects organizations to use their Age Appropriate Design Code ("AADC"). The...

the ICO wants input on when personal data goes international

You don't have to be a data-focused IT service provider to realize that the UK was lucky enough to receive an adequacy decision from...