EKIMAS CORPORATION COMPLETES THE EXERCISE OF WARRANTS

Rhea-AI Summary

EKIMAS Corporation (OTC PINK: ASNB) announced the exercise of 115,000 warrants at $1.00 per share, totaling $115,000 in capital, from its largest shareholder as part of a 6,000,000-warrant grant made in April 2022. The CEO, Henrik Rouf, highlighted the importance of this funding for executing both short- and long-term strategic plans, particularly in expanding EKIMAS’ presence in the U.S. market. The company’s subsidiary, Nordicus Partners A/S, specializes in assisting Nordic companies to establish themselves in the U.S., leveraging over 90 years of management experience in corporate finance.

Positive

• Capital injection of $115,000 enhances EKIMAS' working capital.
• Strengthens expansion plans in the U.S. market.

Negative

• No significant negative aspects noted.

Las Vegas, Nevada., March 08, 2023 (GLOBE NEWSWIRE) -- EKIMAS Corporation (OTC PINK: ASNB) (“EKIMAS” or the “Company”) and its wholly-owned subsidiary, Nordicus Partners A/S (“Nordicus”), a financial consulting company specializing in providing Nordic companies with the best possible conditions to establish themselves on the U.S. market, today announced the exercise of 115,000 warrants at $1.00 per common share. The warrants were exercised on February 14, 2023. The exercised warrants were part of an original grant of 6,000,000 warrants made in April 2022 to a private investor that is a major shareholder of EKIMAS.

Henrik Rouf, the company’s CEO, stated: “This injection of capital is pivotal in executing EKIMAS’ and Nordicus’ short- and long-term strategic plans. The initial tranche of $115,000 received from the Company’s largest shareholder, provides us with the working capital to continue expanding our presence in the U.S. Additional funding anticipated from the exercise of the remaining warrants should provide the resources necessary to our team and brand in the Nordic region as well as the U.S.”

About Nordicus Partners A/S

Nordicus Partners A/S is a Denmark-based financial consulting company and wholly-owned subsidiary of EKIMAS Corporation, specializing in providing Nordic companies with the best possible conditions to establish themselves on the U.S. market, taking advantage of management’s combined +90 years of experience in the corporate sector, serving in different capacities both domestically and globally. The company’s core competencies lie in assisting Danish as well as other Nordic and international companies in different areas of corporate finance activities, such as: business valuations, growth strategies, attracting capital for businesses & company acquisitions and sales.

 Forward-Looking Statements

The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Current Report on Form 8-K relating to the reverse acquisition and related transactions which was filed with the SEC on March 1, 2023. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.

For further information contact:

Mr. Henrik Rouf
Chief Executive Officer
Phone +1 310 666.0750
Email hr@nordicuspartners.com

FAQ

What is the capital raised by EKIMAS Corporation from warrant exercises?

EKIMAS Corporation raised $115,000 by exercising 115,000 warrants at $1.00 each.

When were the warrants exercised by EKIMAS Corporation?

The warrants were exercised on February 14, 2023.

How many warrants were originally granted to the major shareholder of EKIMAS Corporation?

A total of 6,000,000 warrants were granted to a private investor.

What is the purpose of the capital raised by EKIMAS Corporation?

The capital will be used to support EKIMAS' short- and long-term strategic plans and expansion in the U.S. market.

Who is the CEO of EKIMAS Corporation?

The CEO of EKIMAS Corporation is Henrik Rouf.