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LexRay Announces Plan for ICO of its LexRay Utility

LexRay Announces Plan for ICO of its LexRay Utility

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Mobilprise Inc., DBA “LexRay”, an industry leading operational management mobile platform, announced today its plan to launch an Initial Coin Offering, or “ICO,” of its LexRay Utility Tokens, or “LexRay Tokens,” through LexRay Blockchain GmbH, a wholly-owned European subsidiary of LexRay domiciled in the Crypto Valley of Zug, Switzerland. LexRay Tokens are designed to be used on LexRay's blockchain platform, which provides a decentralized and secure mobile operations solution that improves operational efficiencies, and helps manage mission critical facilities, ground crews and security systems from anywhere. Copy of the whitepaper relating to LexRay Tokens may be obtained by accessing LexRay’s website at www.lexray.io. LexRay is led by Jim Argiropoulos, President, who has over 38 years’ experience in the Public Safety and Emergency Management industry.

“LexRay’s core mission is to empower organizations to manage mission-critical operations anytime, anywhere, around the world on our mobile platform. It is an exciting time for Blockchain Technology and Cryptocurrency, and our ICO is a natural progression that will push LexRay to future success,” states Mr. Argiropoulos.

With the success of a Blockchain Initiative, LexRay management has decided to prepare for an ICO in order to raise the necessary capital to further establish a decentralized marketplace, which provides B2B/B2C/B2G services and applications built on top of the mobile operations platform.

LexRay anticipates that the first service offered by the LexRay blockchain platform will be a decentralized video platform with embedded analytics built on top of a mobile platform. LexRay Tokens will be required to use the LexRay blockchain platform and the corresponding mobile operations client, as well as to access the LexRay decentralized marketplace. The value of the LexRay Token is dependent on the growth and adoption of the LexRay platform through the enterprise LexRay Token stakeholders.

LexRay Tokens are “utility tokens.” The Tokens have no known potential use other than to provide access digitally to the LexRay blockchain platform. In the coming days prior to the ICO, LexRay plans to file enquires with FINMA and seek to obtain regulatory assessment on the treatment of LexRay Tokens.

In preparation of the ICO, LexRay has engaged the Swiss law firm Froriep. Froriep is one of the top leading Swiss ICO law firms with a unique international presence and perspective, where the highest standards of professional excellence, thoroughness and efficiency go hand-in-hand.

This press release shall not constitute an offer to sell or the solicitation of an offer to purchase any token described herein, nor shall there be any sale of these tokens in any state 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 or jurisdiction. Copy of the whitepaper relating to the LexRay Token may be obtained by accessing LexRay’s website at www.lexray.io.

This press release contains information about pending regulatory assessment by FINMA, and there can be no assurance that LexRay will be able to obtain assessment from FINMA to treat LexRay Tokens as “utility tokens” as defined under the FINMA ICO Guidelines, dated February 16, 2018.

This press release contains statements that are forward looking, which may not be correct, even though LexRay believes that they are reasonable at the time of this press release. LexRay undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made.

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