Solely as a goodwill gesture to the Mandala community, last year Mandala Acquisition, LLC (MAC) offered to exchange previous versions of the MDX token, which were issued by Mandala Holdings USA, Inc. or its affiliates (collectively MHUSA), on a one-to-one basis for a new version of the MDX token, commonly known as MDX Version 3, issued by MAC. As set forth in a press release dated January 6, 2021, this offer was limited to holders of old MDX tokens purchased in the MHUSA Initial Coin Offering and subsequent good faith purchasers of such tokens; token exchanges, awards or grants promised or made by MHUSA for any other reason were not subject to this exchange offer.
MAC is not affiliated with MHUSA in any manner and disclaims any legal obligation whatsoever to conduct such a token exchange. MAC did not issue and has no control whatsoever over any previous version of the MDX token. The MDX Version 3 token is a utility token issued by MAC that may be used to reduce trading fees on the Mandala Exchange, which is operated by a subsidiary of MAC.
On January 25, 2021 and thereafter, MAC announced in a Medium Token Swap article, as well as in numerous posts to social media and to the Mandala community messaging channels, that in the interest of stabilizing the supply of and market for MDX, the MDX token swap period would end for all purposes at 5:00PM Eastern Daylight Time on March 19, 2021, by which date a support ticket requesting such exchange must have been submitted to MAC. Please note that it may take some time to process all pending support tickets.
As of 5:01 EDT on March 19, 2021, MAC will no longer exchange previous versions of MDX tokens for MDX Version 3 tokens. Requests for such an exchange will not be honored, and holders of previous versions of MDX tokens should under no circumstances tender such tokens to MAC. MAC undertakes no responsibility to track or return any such unauthorized tender.
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. MAC does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated status of such statements. Therefore, in no case whatsoever will MAC and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.