VANCOUVER, British Columbia, April  05, 2024  (GLOBE NEWSWIRE) -- Metasphere Labs Inc. ("Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N), a Web3 and Metaverse technology leader based in British Columbia, is excited to announce that it wishes to enter into a Market Making Services Agreement dated April 8, 2024 (the "Agreement") with Independent Trading Group, Inc ("ITG") (address: 33 Yonge Street, Suite 420, Toronto, ON M5E 1G4, email: info@itg84.com, phone: 416-583-2194) for market making services. This partnership aims to enhance the liquidity and market efficiency of Metasphere's securities trading on Canadian exchanges.

ITG will leverage its market expertise to improve the trading environment for Metasphere's securities, focusing on enhancing market depth and stability. This collaboration aligns with Metasphere's commitment to regulatory compliance and shareholder value, offering a more robust trading experience and strategic market insights.

Under the Agreement, ITG will receive compensation of CAD$7,500 per month, payable monthly in advance for market making services. The Agreement is for an initial term, which is a minimum of one month, and is renewable for additional one-month terms unless terminated. The Agreement may be terminated by either party by providing written notice of termination at least 30 days prior to the end of the then current term. There are no performance factors contained in the Agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the Agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of Metasphere.

"We are delighted to partner with ITG," said Natasha Ingram, CEO of Metasphere Labs Inc. "This collaboration will enhance our market presence and support our mission to maximize shareholder value through improved liquidity and market visibility."