TROOPS, Inc. (NASDAQ: TROO) Subsidiary Intends to Acquire 49% of a Taiwan-based Co-working Space Operator WORK, Inc., with Path to Full Ownership

, /PRNewswire/ -- TROOPS, Inc. (Nasdaq: TROO) ("TROOPS" or the "Company"), today announced its wholly-owned subsidiary Giant Connection Limited (the Purchaser") has recently entered into a Letter of Intent ("LOI") with WORLD HONOR HOLDINGS LIMITED (the "Vendor"), to acquire 49% share ownership of WORK, Inc., a British Virgin Islands co-working space operator with operations in Taiwan. The transaction includes a put option for the Vendor to sell the remaining 51% share ownership to the Purchaser in the future. Consideration will be paid via convertible notes linked to TROOPS shares, priced at 80% of the lower of (i) the pre-signing closing price or (ii) the 60-day average. Key conditions include due diligence, regulatory approvals (including NASDAQ and SEC), and the Purchaser's commitment to develop a 7,000 square feet co-working space in Hong Kong and a dedicated mobile application. Key Points: Structure: Staged acquisition (49% upfront + put option for 51%). Payment: Convertible notes tied to TROOPS' share price. Obligations: Purchaser to fund Hong Kong co-working space and app development. Conditions: Due diligence, regulatory approvals, and no material adverse changes. Binding Terms: LOI enforces confidentiality and exclusivity. This move signals TROOPS' expansion into Asia's flexible workspace sector, leveraging WORK, Inc.'s footprint in Taiwan and planned Hong Kong presence. About TROOPS, Inc. TROOPS, Inc. is a conglomerate group of various businesses with its headquarters based in Hong Kong. The group is principally engaged in (a) money lending business in Hong Kong providing mortgage loans to high quality target borrowers, (b) property investment to generate additional rental income and, (c) the development, operation and management of an online financial marketplace that provides one-stop financial technology solutions including API services by leveraging artificial intelligence, big data and blockchain, and cloud computing (SaaS), (d) advisory and referral services in relation to the application of migration, education and visa renewal to its customers, and (e) consultancy services for insurance products in respect of insurance referral to insurance brokers. The group's vision is to operate as a conglomerate to build synergy within its own sustainable ecosystem thereby creating value to its shareholders. For more information about TROOPS, Inc., please visit our investor relations website: www.troops.co Safe Harbor and Informational Statement This announcement contains "forward-looking" statements within the meaning of 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. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Forward-looking statements in this release include, without limitation, the effectiveness of the Company's multiple-brand, multiple channel strategy and the transitioning of its product development and sales focus and to a "light-asset" model, Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. These forward-looking statements can change as a result of many possible events or factors not all of which are known to the Company, which may include, without limitation, our ability to have effective internal control over financial reporting; our success in designing and distributing products under brands licensed from others; management of sales trend and client mix; possibility of securing loans and other financing without efficient fixed assets as collaterals; changes in government policy in China; China's overall economic conditions and local market economic conditions; our ability to expand through strategic acquisitions and establishment of new locations; compliance with government regulations; legislation or regulatory environments; geopolitical events, and other events and/or risks outlined in TROOPS' filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F and other filings. All information provided in this press release and in the attachments is as of the date of the issuance, and TROOPS does not undertake any obligation to update any forward-looking statement, except as required under applicable law. SOURCE TROOPS WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

TROOPS, Inc. (NASDAQ: TROO) Subsidiary Intends to Acquire 49% of a Taiwan-based Co-working Space Operator WORK, Inc., with Path to Full Ownership

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