COLOMBO, Sri Lanka, March  23, 2026  (GLOBE NEWSWIRE) -- Innovative Production Group FZ, LLC (&#34;IPG&#34;) has completed its strategic all-stock merger with Flash Sports &amp; Media, Inc. (&#34;Flash&#34;) bringing its portfolio of

UGRO

IPG to Expand T20 Cricket Footprint Across Sri Lanka, Malaysia and Zimbabwe Following Merger with Flash Sports & Media, Inc., following Flash's merger with NASDAQ-listed urban-gro, Inc.

UGRO Expands Cricket Footprint with Flash and IPG Merger

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>COLOMBO, Sri Lanka, March  23, 2026  (GLOBE NEWSWIRE) -- Innovative Production Group FZ, LLC (&amp;#34;IPG&amp;#34;) has completed its strategic all-stock merger with Flash Sports &amp;amp; Media, Inc. (&amp;#34;Flash&amp;#34;) bringing its portfolio of</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>UGRO&#039;s merger with Flash Sports &amp; Media boosts its cricket rights portfolio, focusing on growth in international markets like Bangladesh and the UAE. This strategic union enhances governance standards and aims for significant revenue growth, positioning UGRO well for future expansions and financial stability.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>IPG merges with Flash, enhancing UGRO&#039;s cricket rights portfolio.</li><li>New entity targets expansion into Bangladesh and UAE cricket markets.</li><li>LPL remains under Sri Lanka Cricket but retains key commercial rights with IPG.</li><li>The merger aims for long-term revenue growth and diversified market presence.</li><li>Management emphasizes enhanced governance and operational execution strategies.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Flash Sports &amp; Media (Not Publicly Traded)</strong>: Merged with IPG and UGRO, enhancing cricket league assets.</li><li><strong>Sri Lanka Cricket (Not Publicly Traded)</strong>: Holds ownership of the LPL, influencing UGRO&#039;s rights structure.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; as it signifies a significant merger impacting UGRO&#039;s business model and prospects. Such strategic mergers often lead to enhanced market competitiveness and revenue generation.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>UGRO&#039;s market position may strengthen due to expanded cricket rights portfolio.</li><li>Potential revenue growth from T20 leagues could enhance financial stability.</li><li>Increased sponsor engagement may lead to higher recurring revenues for UGRO.</li><li>The merger demonstrates institutional confidence, likely attracting new investors.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>UGRO&#039;s merger with Flash was completed on March 23, 2026.</li><li>IPG retains exclusive commercial rights for LPL and other T20 leagues.</li><li>Plans for expansion into Bangladesh and UAE cricket markets are set.</li><li>The LPL attracts significant global interest, enhancing UGRO&#039;s visibility.</li><li>Focus on operational execution aims to create predictable revenue streams.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Consider buying UGRO as the merger drives growth potential and market expansion.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">COLOMBO, Sri Lanka, March  23, 2026  (GLOBE NEWSWIRE) -- Innovative Production Group FZ, LLC ("IPG") has completed its strategic all-stock merger with Flash Sports &amp; Media, Inc. ("Flash") bringing its portfolio of T20 league commercial rights — including the Lanka Premier League ("LPL") — to the NASDAQ-listed platform UGRO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/UGRO">UGRO</a>). The move marks a significant moment for IPG and the leagues it manages, positioning them within a publicly governed structure built for scale.</p>  <p align="justify">Backed by this new institutional structure, the new entity has outlined expansion plans into Bangladesh and the United Arab Emirates, extending its footprint across high-growth cricket markets.</p>  <p align="justify">For the LPL, as well as the Malaysia and Zimbabwe T20 leagues, the transition signals the start of a more structured and growth-driven phase. While the LPL remains intellectual property owned by Sri Lanka Cricket, IPG continues to hold exclusive commercial and media rights — now backed by institutional capital, enhanced governance standards, and long-term expansion planning.</p>  <p align="justify"><strong>Anil Mohan, Founder &amp; Chairman of IPG Global, said:</strong> <em>"The integration into a publicly governed structure strengthens our ability to scale responsibly across emerging markets. With enhanced transparency, capital access, and governance standards, we are positioned to grow franchise value while maintaining long-term commercial discipline."</em></p>  <p align="justify">The combined platform is focused on long-term asset appreciation, centralizing sponsorship revenue across leagues, upgrading broadcast production to 4K standards, and creating predictable recurring revenue streams. The aim is to evolve standalone tournaments into an integrated, multi-market cricket enterprise spanning South Asia and other emerging territories.</p>  <p align="justify"><strong>Eric Sherb, Chief Financial Officer, Flash Sports &amp; Media, added</strong>: <em>"The public-market structure enables phased capital deployment into league infrastructure while maintaining strict ROI discipline. Our focus will be on strengthening long-term commercial development and building recurring revenue streams across the portfolio."</em></p>  <p align="justify"><strong>Bradley Nattrass, Chief Executive Officer, Flash Sports &amp; Media shares:</strong> "<em>We believe this combination accelerates our ability to execute across multiple cricket economies simultaneously. With centralized commercial control and aligned franchise incentives, we intend to drive deeper sponsor integration, stronger broadcast partnerships, and greater fan engagement across markets. Our focus now is on operational execution, scaling the platform with speed and precision, and long-term shareholder value creation.</em>"</p>  <p align="justify">Since entering the franchise cricket space, IPG has played a key role in building commercial structures around emerging-market leagues. The merger consolidates IPG's league management, media monetization, and commercial operations within a capital-backed framework designed for long-term asset growth rather than short tournament cycles.</p>  <p align="justify"><strong>Forward-Looking Statements</strong></p>  <p align="justify">This press release contains forward-looking statements including statements regarding the expected benefits of the merger, the development and commercialization of cricket league assets, anticipated revenue opportunities, and potential expansion into additional markets. Forward-looking statements may be identified by words such as "anticipate," "believe," "intend," "expect," "plan," "may," "will," "could," "seek," "estimate," or similar expressions.</p>  <p align="justify">These forward-looking statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks include, among others, the ability to successfully integrate operations following the merger, execute growth and expansion initiatives, obtain necessary regulatory approvals, secure sponsorship, media, and commercial partnerships, and general economic, market, and industry conditions.</p>  <p align="justify">Forward-looking statements speak only as of the date of this release, and the Company undertakes no obligation to update or revise any such statements except as required by law.</p>  <p><strong>About urban-gro, Inc. </strong></p>  <p align="justify">Following its recent combination with Flash, urban-gro, Inc. ("ubran-gro") is a diversified sports, media, and experiential marketing platform focused on the creation, production, and monetization of live events, original content, and branded fan experiences. The company uses across multiple sports and entertainment verticals, using proprietary intellectual property, strategic partnerships, and experiential activations to engage audiences and deliver value for brands, sponsors, and media partners. Flash integrates content creation, event execution, and media distribution to build scalable platforms within the global sports and entertainment ecosystem. For more information, visit <a href="https://flashsportsandmedia.com" title="https://flashsportsandmedia.com">https://flashsportsandmedia.com</a>.</p>  <p><strong>About Lanka Premier League</strong></p>  <p align="justify">The Lanka Premier League has established itself as one of the region's most dynamic and widely followed T20 tournaments, bringing together top Sri Lankan cricketers and leading international stars in an electrifying showcase of the game. The league is owned and operated by the IPG Group, its official rights holder. The sixth edition of the LPL was staged from December 1 to December 23, 2025, across three premier venues – Colombo, Dambulla, and Kandy. Fans were able to experience 24 high-octane matches over 24 days, featuring marquee overseas players alongside Sri Lankan cricketing stalwarts. The league comprising five competing franchises will vie for the coveted trophy this edition.</p>  <p><strong>About IPG</strong></p>  <p align="justify">Innovative Production Group FZ, LLC ("IPG"), founded by Anil Mohan Sankhdhar, and now a subsidiary of Flash, is a global leader in sports marketing, event management, sponsorship rights, and production, with deep expertise in international cricket properties and sports media. As the rights holder for major cricket leagues, IPG has consistently delivered world-class sporting experiences, pioneering innovations in fan engagement, ground sponsorships, and league management. With its strong global footprint, the group continues to shape and elevate the sports and entertainment landscape.</p>  <p><strong>Investor Contact:</strong></p>  <p><a href="https://www.globenewswire.com/Tracker?data=5LsP9kFenQ6SDSTF1U--tr8c62xt3LFhUm4Q2HETLHqYHYEhEp-eSJe4As_FiGvOY_fNcjvK-E5k0KWrzJd7pT2GiGvZ9qQC9VopP-sLbtZOPPmMlhuyKtd84k_vMBbv" rel="nofollow" target="_blank">investors@urban-gro.com</a></p>  <p><a href="https://www.globenewswire.com/Tracker?data=5LsP9kFenQ6SDSTF1U--tlk1FNBrodd-W5CjLen03R06fnsv4djGts8qDDjDmW4hV5c7_h0yrKIqxVd-nhcHI_SICiwZzN1Yk5Y-d_Ewdn8=" rel="nofollow" target="_blank">investors@flashsm.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY3NjM3MCM3NDk3MzYzIzIzMTAzNDU="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/M2NhYWRiMjEtN2JiOC00N2FiLWJlMjUtOTk3ZWZlMjFkYTRjLTEzMjE4OTUtMjAyNi0wMy0yMy1lbg==/tiny/Flash-Sport-Media-Inc.png" referrerpolicy="no-referrer-when-downgrade"></img>

UGRO's merger with Flash Sports & Media boosts its cricket rights portfolio, focusing on growth in international markets like Bangladesh and the UAE. This strategic union enhances governance standards and aims for significant revenue growth, positioning UGRO well for future expansions and financial stability.

ipg-to-expand-t20-cricket-footprint-across-sri-lanka-malaysia-and-zimbabwe-following-merger-with-flash-sports-media-inc-following-flash-s-merger-with-nasdaq-listed-urban-gro-inc

IPG to Expand T20 Cricket Footprint Across Sri Lanka, Malaysia and Zimbabwe Following Merger with Flash Sports & Media, Inc., following Flash's merger with NASDAQ-listed urban-gro, Inc.

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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