GoLogiq to Acquire Institutional Investment Advisory Firm, CPG Research & Advisory, in $15 Million Merger

Rhea-AI Summary

GoLogiq, Inc. (OTC:GOLQ) has signed a non-binding letter of intent to acquire CPG Research & Advisory, a Sydney-based investment consulting firm. The acquisition aims to enhance GoLogiq's fintech platform with CPG's 30 years of advisory experience and advanced research capabilities. GoLogiq will purchase 51% of CPG in an all-stock deal valued at $15 million, expected to close in Q2 2023. This strategic move is anticipated to expand GoLogiq's market presence in the Middle East, Australia, and Southeast Asia, complementing its recent $30 million merger with Nest Egg, which introduced a profitable business and a pipeline of acquisition targets.

Positive

• Acquisition of CPG enhances GoLogiq's fintech platform with advanced research capabilities.
• CPG brings over $8 billion in client portfolio experience, expanding GoLogiq's client base.
• Strategic presence in Australia, New Zealand, and Southeast Asia markets expected to grow.
• Recently announced $30 million merger with Nest Egg introduces a profitable business.

Negative

• Acquisition remains subject to completion of a definitive agreement and no guarantees are provided.
• Forward-looking statements regarding market growth and capital access come with inherent risks.

Privately held CPG Research & Advisory to bring to GoLogiq:

• 30 years of investment research and advisory experience for major institutions.
• Advising on over $8 billion in client portfolios.
• Well-established global client base of sovereign funds, family offices and government institutions.
• Advanced research and advice capabilities powered by sophisticated research technology that is complementary to GoLogiq’s expanding Fintech platform.

NEW YORK, March 15, 2023 (GLOBE NEWSWIRE) -- GoLogiq, Inc. (OTC:GOLQ), a U.S.-based global provider of fintech and consumer data analytics, has signed a mutual non-binding letter of intent to acquire Sydney-based CPG Research & Advisory, a leading global provider of independent investment consulting services.

CPG is expected to bring to GoLogiq more than 30 years of experience as an independent investment advisor and asset consultant. The firm provides comprehensive customized solutions to a broad range of institutional investors, including superannuation funds, insurers, local authorities, government agencies, sovereign funds, family offices and government institutions, and firms that service the wealth management sector.

CPG’s highly experienced team of financial specialist and analysts provide professional investment and wealth management advice to clients across Australia and internationally to countries such as Bahrain and New Zealand.

Under the terms of the proposed agreement, GoLogiq will acquire 51% of CPG in an all-stock transaction. GoLogiq would issue common shares to CPG shareholders valued at $15 million. The parties anticipate the acquisition to close in the second quarter of 2023.

“As part of a global-oriented public company, we see greater opportunities to accelerate our growth and attract a larger client base of major institutions across the Middle East, New Zealand and Australia, as well as enter new markets in S.E. Asia and North America,” stated CPG CEO, Andrew Vallner. “In addition to more favorable access to growth capital, we believe the prestige and transparency of a U.S. publicly traded company will open doors and provide a competitive advantage, as well as help us attract top talent from our industry.”

CPG will bring GoLogiq advanced research and advice capabilities powered by sophisticated research technology that is complementary to GoLogiq’s expanding Fintech platform.

According to Brent Suen, interim CEO of GoLoqiq, stated: “This proposed merger represents our first entrance into research advisory and asset consulting for large institutional investors. CPG’s growing international presence and advanced research technology complements and rounds out our global offerings of comprehensive Fintech products and services for individuals and SMBs. We also see tremendous opportunities to help CPG expand its client base into new markets.”

The CPG letter of intent follows GoLogiq’s recent acquisition of GammaRey, which brought to GoLogiq a profitable business driven by an estimated $20 million annualized revenue run rate and nearly $800 million in customer financial assets. It also introduced a pipeline of accretive and/or tech-enabling acquisition targets, including Nest Egg and now CPG.

GoLogiq recently announced it entered into a definitive $30 million merger agreement with Nest Egg, which will soon launch a new easy-to-use retirement investing app. The app offers a streamlined AI-powered solution for discovering, planning, and automating retirement savings, including investment products and services offered by Nest Egg's FINRA-licensed broker dealer.

GoLogiq recently reported that it has begun the process of applying to list on a senior U.S. stock exchange. The listing would be subject to approval based on several factors, including satisfaction of minimum listing requirements. The company believes it meets the reporting, governance and quantitative requirements, including net shareholder equity and market capitalization.

While the company expects that the CPG transaction will be completed as anticipated, a definitive agreement has yet to be signed and no assurances can be given it will be executed or the transaction will be completed as described.

When mutually signed, additional details of the definitive agreement will be made available in a Form 8-K to be filed with U.S. Securities and Exchange Commission on www.sec.gov as well as on the investor section of GoLogiq’s website.

About CPG Research & Advisory
For 30 years, CPG Research & Advisory Pty Ltd has been a leading provider of independent investment advisory services, offering comprehensive customized solutions to a broad range of institutional investors, including superannuation funds, insurers, local authorities, government agencies, universities, foundations, not-for-profit organizations, and firms that service the wealth management sector.

Headquartered in Sydney and with offices in Perth, CPG services clients across Australia, as well as in Bahrain and New Zealand. CPG is widely regarded as Australia’s foremost researcher of enhanced cash investment. To learn more, go to cpgadvisory.com.au.

About GoLogiq
GoLogiq Inc. is a US-based global provider of fintech and mobile solutions for digital transformation and consumer data analytics. Its software platforms are comprised of CreateApp, a mobile app development and publishing platform for small-to-medium sized businesses; AtozGo™, a ‘hyper-local’ app-based delivery platform; AtozPay™, an eWallet for mobile top-up, e-commerce purchases, bill payment and microfinance; and Radix™, a Big Data analytics platform. Visit the company at gologiq.com or follow on twitter: $GOLQ and @gologiq.

Important Cautions Reading Forward-Looking Statements
This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This press release also contains forward‐looking statements and forward‐looking information within the meaning of United States securities legislation that relate to GoLogiq’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this press release should not be unduly relied upon.

These statements speak only as of the date of this press release. Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond GoLogiq’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. In particular and without limitation, this press release contains forward‐looking statements regarding our products and services, the use and/or ongoing demand for our products and services, expectations regarding our revenue and the revenue generation potential of our products and services, our partnerships and strategic alliances, the impact of global pandemics (including COVID-19) on the demand for our products and services, industry trends, overall market growth rates, our growth strategies, the continued growth of the addressable markets for our products and solutions, our business plans and strategies, our ability to apply to and meet the listing standards and approvals for Nasdaq, NYSE, or other senior exchange, our ability to successfully locate and consummate any contemplated strategic transactions, our ability to successfully complete a merger or acquisition with CPG Research & Advisory Pty Ltd, Nest Egg Investments, or other entity, any approval of the merger or acquisition with Nest Egg Investments or other entity by the Financial Industry Regulatory Authority (FINRA), any regulatory approval required of Nest Egg Investment’s subsidiary BeyondTrade Securities, Inc.’s pending name change to Nest Egg Securities, Inc., the structure of any such transaction, timing of such transaction, and the valuation of the businesses after completion of any such transaction, if any, and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC) including its Annual Report on Form 10-K and any subsequent public filings. The Nest Egg Investment transaction discussed herein is subject to mutual deliveries and other closing conditions, and this transaction has not closed as of the date of this press release.

GoLogiq undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for GoLogiq to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

GoLogiq Contact:
Brent Suen
Interim CEO
GoLogiq, Inc.
Email Contact

GoLogiq Investor Relations:
Ron Both
CMA Investor Relations
Tel (949) 432-7566
Email contact

GoLogiq Media & ESG Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email contact

FAQ

What is the purpose of GoLogiq's acquisition of CPG Research & Advisory?

The acquisition aims to enhance GoLogiq's fintech services by integrating CPG's extensive investment research and advisory expertise.

How much is GoLogiq acquiring CPG Research & Advisory for?

GoLogiq is acquiring 51% of CPG in an all-stock transaction valued at $15 million.

When is the expected closing date for the acquisition of CPG by GoLogiq?

The acquisition is anticipated to close in the second quarter of 2023.

What impact will the acquisition of CPG have on GoLogiq’s business?

The acquisition is expected to expand GoLogiq’s market reach and enhance its service offerings, particularly for institutional investors.

What other acquisitions has GoLogiq recently completed?

GoLogiq has recently completed a $30 million merger with Nest Egg, bringing in a profitable business with tech-enabling acquisition targets.