Associated Risks and Disclaimers
Legal Notice and Risk Disclosure
This Legal Notice and Risk Disclosure Statement is provided by Virtual Pangea AG stock company incorporated in Switzerland. Any statements and representations made by us or on our behalf, as well as any use of the tokens issued by us or of any platform, service or protocol upon which our tokens operate, regardless of whether such project is owned, operated, developed or otherwise controlled by us, shall be subject to this notice. Please read this notice carefully before using or interacting with the project or the token. In addition, the tokens are subject to additional terms and conditions that may be amended by us from time to time. The Project may also be subject to additional terms and conditions that may be amended by the owner of the project from time to time.
Legal Notice Information and Communications
Our website available at https://www.virtualpangea.com/, together with the project’s social media channels and any other information communicated by us or on our behalf, whether through our lightpaper, communication channels or otherwise, do not constitute an offer to sell, a recommendation or solicitation to buy, sell or hold Tokens or any other assets. Nothing in the Materials constitutes a recommendation or solicitation to use the Tokens, the Project or any related products, services or technologies. Always make sure to verify that the information that you believe is provided by us is posted or communicated by our authorized representatives. Any and all Materials are provided for informational and educational purposes only, and should not be relied upon, either wholly or partially, when making any decision. We do not warrant, guarantee or represent, whether expressly or impliedly, that the Materials are true, complete, timely, reliable, accurate, sufficient, non-infringing or fit for a particular purpose, and we will be under no obligation to update or fix such Materials. We shall not be responsible for the accuracy or completeness of the Materials; therefore, any use of such Materials is at your own discretion and risk, and you are solely responsible for any possible damages or losses arising from such use. You should always conduct your own independent research and investigation. Materials may also contain references to third-party data and industry publications. Although we believe that such data is accurate and reasonable, there are no assurances as to the accuracy or completeness of this data. We have not independently verified any of the data from third-party sources referred to on the Website or in connection with the Project, or ascertained the underlying assumptions relied upon by such sources. Any reference to such third-party data and industry publications does not imply our endorsement thereof. Third-party sources referred to on the website or in connection with the project or ascertained the underlying assumptions relied upon by such sources. Any reference to such third-party data and industry publications does not imply our endorsement thereof.
We do not make any warranties or representations of any kind with regard to the Token (fungible or non-fungible), and we expressly disclaim all warranties and representations relating to the Tokens, whether express or implied, including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement. The Tokens are provided on an «as is» and «as available» basis. There is no guarantee that the Tokens will perform as expected or hold any particular value or price. The Tokens may lose some or all of their value. We do not make any promises with respect to the Tokens, its price, value, supply amount, performance, etc. We cannot and do not influence the price of the Tokens or its performance, and assume no liability to any person for the Tokens, their performance, value or loss in value, the use or inability to use the Tokens. The Token is not an investment, security, share or equity interest, debt or loan nor a derivative instrument of any of the foregoing. Neither the Materials nor anything communicated or provided by us constitutes a prospectus or offering document, or is an offer to sell or solicitation of an offer to buy Tokens or any other asset. Unless otherwise specified, the Tokens do not provide any person with the rights of any type with respect to us or our affiliates, their revenues or assets, including, but not limited to, any voting, distribution, redemption, liquidation, proprietary or other financial or legal rights, nor are the Tokens intended to provide any person with any other rights of any type. The Tokens are not a loan and do not provide any right of ownership or other interest. Unless expressly allowed by us at our discretion, Tokens cannot be received, used, or held by, transferred or sold to, a person which is (i) the subject of economic or financial sanctions or trade embargoes administered or enforced by any country or government, including, but not limited to, those administered by the United Nations Security Council, the European Union, Her Majesty’s Treasury of the United Kingdom or Office of Foreign Assets Control of the United States or any other applicable jurisdictions, (ii) located, organized or resident in any country or territory that is the subject of country-wide or territory-wide sanctions, (iii) listed in any sanctions-related list of sanctioned persons, including, but not limited to, Swiss SECO (Swiss State Secretariat for Economic Affairs) those maintained by the United Nations Security Council, the European Union, Her Majesty’s Treasury of the United Kingdom or Office of Foreign Assets Control of the United States, (iv) located, organized or resident in Australia, Canada, Cuba, Belarus, the Democratic People’s Republic of North Korea, Hong Kong SAR, the Islamic Republic of Iran, Libya, the People’s Republic of China, Russia, South Sudan, Sudan (North), Syria, The Crimea, United States of America, any jurisdiction in which the acquisition and/or ownership of Tokens is prohibited by applicable law, or (v) directly or indirectly owned or controlled by any person or persons described above.
Applicability of the Anti-Money Laundering Act
The objective of the Anti-Money Laundering Act (AMLA) is to protect the financial system from money laundering and the financing of terrorism. Anyone who provides payment services or who issues or manages a means of payment is a financial intermediary subject to the AMLA (Art. 2 para. 3 let. b AMLA). The issuing of payment tokens constitutes the issuing of a means of payment subject to this regulation as long as the tokens can be transferred technically on a blockchain infrastructure. This may be the case at the time of the ICO/IDO or only at a later date. Under current FINMA practice, the exchange of a cryptocurrency for fiat money or a different cryptocurrency falls under Art. 2 para. 3 AMLA. Compliance with AMLA Anti-money laundering regulation gives rise to a range of due diligence requirements, including the requirement to establish the identity of the beneficial owner. These requirements can be fulfilled by having the funds accepted via a financial intermediary who is already subject to the AMLA in Switzerland and who exercises on behalf of the organizer the corresponding due diligence requirements. The issue of VP Token is subject to KYC and AML, following Swiss rules, prior to admission to ICO/IDO. In particular, all persons resident in the US (United States of America) and in sanctions List Countries as indicated by the Swiss SECO (Swiss State Secretariat for Economic Affairs) are excluded from the possibility of purchasing the VP Token The AMLA procedures must take into account the exclusions of persons and companies indicated in the sanctions list issued by the European Union in connection with the Russian invasion of Ukraine.
Purchasing fungible or non-fungible tokens involves substantial risk and may lead to a loss of a substantial or entire amount of the money involved. Prior to purchasing tokens, you should carefully assess and take into account the risks, including those listed in any other documentation. A purchaser should not purchase tokens for speculative or investment purposes. Purchasers should only purchase tokens if they fully understand the nature of the tokens and accept the risks inherent to the tokens. Cryptographic tokens may be subject to expropriation and/or theft; hackers or other malicious groups or organizations may attempt to interfere with our system/network in various ways, including malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing which may result in the loss of your cryptographic tokens or the loss of your ability to access or control your cryptographic tokens. In such an event, there may be no remedy, and holders of cryptographic tokens are not guaranteed any remedy, refund, or compensation. The regulatory status of cryptographic tokens and digital assets is currently unsettled, varies among jurisdictions, and is subject to significant uncertainty. It is possible that in the future, certain laws, regulations, policies or rules relating to cryptographic tokens, digital assets, blockchain technology, or blockchain applications may be implemented which may directly or indirectly affect or restrict cryptographic token holders’ right to acquire, own, hold, sell, convert, trade, or use cryptographic tokens. The uncertainty in tax legislation relating to cryptographic tokens and digital assets may expose cryptographic token holders to tax consequences associated with the use or trading of cryptographic tokens. Digital assets and related products and services carry significant risks. Potential purchasers should take into account all of the above and assess the nature of, and their own appetite for, relevant risks independently and consult their advisers before making any decisions.
The Website, the Project, and the Materials may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements other than statements of historical fact, are forward-looking statements. Any development plans and projections, business projections, future functionality and projected performance of the Tokens, the Project or us, as well as prospects and the future prospects of any industry, are forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain or unknown. We can give no assurance that any forward-looking statements will prove to have been correct. Actual events, results or outcomes could differ materially from what is stated in the forward-looking statement, and you should not rely on any such forward-looking statement. 31 These risks and uncertainties include the impact of economic, competitive, technical and other factors affecting the Tokens, the Project, us or our operations, including, but not limited to, the following: development of science and technology, development of the industry in which we are in, competition, regulatory uncertainty and government actions, the introduction of new regulations and laws, market changes, the performance of the Tokens, the Project or related products, other business and market conditions. Development of science and technology, development of the industry in which we are in, competition, regulatory uncertainty and government actions, the introduction of new regulations and laws, market changes, the performance of the Tokens, the Project or related products, other business and market conditions.
No part of the Website, the Project or the Materials should be considered to be business, legal, financial, investment, or tax advice, or advice of a broker regarding any matters to which all or any part of such information relates. You should consult your own legal, financial, tax, or other professional advisers regarding any such information development of science and technology, development of the industry in which we are in, competition, regulatory uncertainty and government actions, the introduction of new regulations and laws, market changes, the performance of the Tokens, the Project or related products, other business and market conditions
Acceptance of Risks and No Liability
You must read the Risk Disclosure Statement below, and by accessing or using the Tokens and/ or the Project you accept all of the listed risks and agree that we shall not be in any way liable for any losses or damages incurred due to or in connection with such risks. You do hereby also acknowledge and agree that both the Tokens and the Project may be subject to additional risk disclosure statements that may be amended from time to time.
Indemnity and Limitation of Liability
You do hereby to the fullest extent permitted by applicable laws and regulations indemnify, defend and hold us, our employees, directors, shareholders, officers, consultants, representatives, agents or contractors harmless from and against any and all loss, penalty, claim, damage, liability or expense whatsoever (including reasonable attorneys’ fees and disbursements) due to or arising out of or based upon (i) any inaccurate representation or warranty made by you, or breach or failure by you to comply with any covenant or agreement made by you or in any other document furnished by you to any of the foregoing persons in connection with the Tokens or the Project, or (ii) any action instituted by or on your behalf against any of the foregoing persons that is finally resolved by judgment against you or in favor of any of the foregoing persons. To the maximum extent permitted by applicable laws and regulations, in no event shall us, our employees, directors, shareholders, officers, consultants, representatives, agents or contractors be liable or responsible for any direct, indirect, special, punitive, exemplary, incidental, or consequential damages or losses of any kind, nor shall they be liable for the loss of goodwill, loss of profits (including expected), loss of data, diminution of value, and business interruption arising out of or in connection with the use of the Tokens.
Risk of Software Weaknesses
Although we make reasonable efforts to ensure that the Tokens, the Project and their related software follow the high-security standards, we do not warrant or represent that the Tokens, the Project or any such related software are secure or safe, or protected from fishing, malware or other malicious attacks. Further, the Tokens, the Project and their related software may contain weaknesses, bugs, vulnerabilities, viruses or other defects which may have a material adverse effect on the operation of the Tokens, the Project or any such related software or may lead to losses and damages for you, other users of the Tokens, the Project or any such related software or third persons.
Risk of Flawed Logic of the Tokens, The Project or their Related Software
The underlying logic of the Tokens, the Project and their related software may be flawed, defective or impaired, which can result in smart contracts operating incorrectly or not as expected, or transactions being executed in violation of logic which underpins the smart contracts, which can lead to partial or complete loss of digital assets used in the transaction.
Risk of Confusing User Interface
Certain user interface elements or design decisions can be confusing or mislead you, which may result in the execution of a different action or transaction than intended or desired, or connection of a wrong wallet, account or network
Risk of Legal Uncertainty
Our intended activities are subject to various laws and regulations in the countries where we operate or intend to operate. We might be obliged to obtain different licenses or other permissive documents in some or all jurisdictions where we intend to operate our business, therefore, our business in such jurisdictions shall always be subject to obtaining such licenses or permissive documents, if so directed by applicable laws. There is a risk that certain activities may be deemed in violation of any such law or regulation. Penalties for any such potential violation would be unknown. Additionally, changes in applicable laws or regulations or evolving interpretations of existing law could, in certain circumstances, result in increased compliance costs or capital expenditures, which could affect our ability to carry on our business model.
Risk of Theft
There is no assurance that there will be no theft of your digital assets as a result of hacks, sophisticated cyber-attacks, distributed denials of service or errors, double-spent attacks, flash-loan, vulnerabilities or defects of the Tokens, the Project or their related software or of the Ethereum or any other blockchain, or otherwise. Such events may include, for example, flaws in programming or source code leading to exploitation or abuse thereof. Any of the above may lead to partial or complete theft or loss of digital assets used in transactions carried out in connection with the Tokens, the Project or their related software.
The lightpaper and the Website may be translated into a language other than English for reference purpose only and in the event of conflict or ambiguity between the English language version and translated versions of the lightpaper or the Website, the English language versions shall prevail. You acknowledge that you have read and understood the English language version of the lightpaper and the Website.