Hong Kong, October 12th / PRNewswire / -- TROOPS, Inc. (Nasdaq ticker: TROO) (hereinafter referred to as “TROOPS” or “the Company”) announced today that it has signed a conditional purchase and sale agreement with EFFORCE Group (hereinafter referred to as “EFFORCE”).

The company stated that this strategic combination will integrate the ecosystem of TROOPS with the blockchain infrastructure and regulatory qualifications of EFFORCE. EFFORCE was founded by Apple co-founder Steve Wozniak and has established a solid presence in the fields of digital assets and sustainable development by focusing on innovative technology-driven solutions. After the transaction is completed, Wozniak will still hold shares in EFFORCE.

The proposed merger aims to integrate the complementary strengths of both parties in technology, compliance, business expansion, and market access. Both parties hope to create a stronger platform to seize opportunities in the evolving digital asset economy across various niche areas.

Diverse Vertical Ecosystems: More Than Just Crypto Trading

Through this merger, TROOPS will acquire the relevant frameworks of EFFORCE. Its business scope will expand from traditional cryptocurrency exchanges to collaborative digital vertical fields, including potential involvement in carbon credit and green certificate trading.

The merged group plans to leverage its expanded infrastructure and industry expertise to seek opportunities in areas such as digital assets, projects focused on sustainable development, financial services integration, and technology-driven business models.

The company stated that this transaction is expected to lay the foundation for future growth and enhance the group's ability to serve institutions and commercial clients across multiple markets.

Management Perspective

"This merger is an important milestone for TROOPS, as we will continue to expand our digital asset infrastructure and diversify our business platform," said TROOPS, Inc. President and CEO Damian Thurnheer stated, "The technology, regulatory capabilities, and industry experience of EFFORCE combined with TROOPS's existing business will bring new opportunities for growth, innovation, and value creation."

The Chief Executive Officer Sergio Carloni added, "The licensing framework of EFFORCE, its expertise in digital assets, and its focus on sustainable development, when combined with the market influence of TROOPS, will lay a solid foundation for future development in multiple business verticals. We believe that this transaction will enable the merged group to leverage the strengths of both parties while exploring new strategic opportunities."

"The next phase of green technology will depend on to what extent we can link investments with measurable impacts. The goal of our proposed merger is to bring technology and capital closer to projects and enterprises that are driving energy transformation. In the carbon market, sustained growth depends on confidence in the financed and traded activities. We must have credible projects, transparent information, and verifiable results."

The company stated that the integration is expected to accelerate revenue growth opportunities, diversify revenue sources, and support the creation of long-term value for the shareholders of TROOPS. The completion of the acquisition depends on customary closing conditions, regulatory approval, and the fulfillment of the prerequisites specified in the purchase agreement. Both parties expect to cooperate closely to ensure a smooth integration process and to maximize the strategic benefits of this transaction for the stakeholders of both parties.

Regarding TROOPS, Inc.

TROOPS, Inc is a diversified group headquartered in Hong Kong. The group is mainly engaged in: (a) lending business in Hong Kong, providing mortgage loans to high-quality target borrowers; (b) real estate investment to generate additional rental income; (c) developing, operating, and managing an online financial market that offers one-stop fintech solutions including API services through artificial intelligence, big data, blockchain, and cloud computing (SaaS); (d) consulting and referral services related to immigration, education, and visa renewal applications; and (e) providing insurance consulting services for insurance brokers regarding insurance product referrals. The group's vision is to create synergies within its own sustainable ecosystem as a diversified group, thereby generating value for its shareholders.

For more information, please visit TROOPS, Inc. Investor Relations website: www.troops.co.

Safe Harbor and Information Statement

This announcement contains “forward-looking” statements as defined by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Except for historical facts, all statements regarding the company’s objectives, plans, and strategies in this document, as well as statements that contain words such as “believes,” “expects,” “anticipates,” “future,” “will,” “intends,” “plans,” “estimates,” or similar expressions, are forward-looking statements. The forward-looking statements in this press release include, but are not limited to, the effectiveness of the company’s multi-brand, multi-channel strategy, and the transition of product development and sales focus to a “light-asset” model. Although the company’s management believes such forward-looking statements to be reasonable, it cannot guarantee that these expectations will be correct now or in the future. These forward-looking statements involve various risks and uncertainties that may result in significant differences between the company’s future results and expectations. These forward-looking statements may change due to many possible events or factors, not all of which are known to the company, including but not limited to: the company’s ability to maintain effective internal controls over financial reporting; the company’s ability to successfully design and distribute products using licensed brands of others; the management of sales trends and customer structure; the possibility of obtaining loans and other financing in the absence of efficient fixed assets as collateral; changes in Chinese government policies; the overall economic conditions in China and the local market economy; the company’s ability to expand through strategic acquisitions and the establishment of new locations; compliance with government regulatory requirements; legislative or regulatory environments; geopolitical events, and other events and/or risks listed in the documents submitted to the U.S. Securities and Exchange Commission by TROOPS, including its 20-F annual report and other filing documents.All information provided in this press release and its attachments is as of the date of issuance. Except as required by applicable laws, TROOPS assumes no obligation to update any forward-looking statements.

SOURCE TROOPS