Aspire North America, LLC Enters Five-Year Exclusive Global Manufacturing and Distribution Agreement with Lifestyle Brand: BrkFst

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Ispire Technology Inc. (NASDAQ: ISPR) has entered a five-year exclusive global manufacturing and distribution agreement with BrkFst, a lifestyle brand co-created by GRAMMY-Award winner Burna Boy. The collaboration will bring high-quality vapor products and unique flavors to consumers in Nigeria, Ghana, South Africa, and the European Union, setting a new industry standard.

Collaboration with Nigerian Afrobeats Legend to Bring a Suite of High-Tech Vapes and One-of-a-Kind Product Flavors to Consumers

LOS ANGELES, Dec. 14, 2023 /PRNewswire/ --  Ispire Technology Inc. ("Ispire" or the "Company") (NASDAQ: ISPR), a leader in the development and commercialization of vaping technology and precision dosing, announced that Aspire North America, LLC ("Aspire"), one of Ispire's operating subsidiaries, has entered a five-year exclusive global manufacturing and distribution agreement (the "Agreement") with a prominent lifestyle brand, BrkFst, a brand co-created by GRAMMY-Award winner Burna Boy and his inner circle of  young entrepreneurs last year, and it has garnered significant community backing.

Under the Agreement, Ispire has secured the exclusive rights to distribute and commercialize BrkFst branded high-quality vapor products, including a suite of unique varieties and new flavors. Ispire is a leader in vaping technology, research and development, design and innovation that is forging the worldwide industry standard for vaporized products. The Company offers a complete line of pod-systems, cartridges, disposables, batteries and other vaping products.

"As the pioneer of the 'cloud chasing' movement with more than 500 patents owned or exclusively licensed around the globe, our collaboration with BrkFst brings consumers award-winning vaping technologies and one-of-a-kind products that they won't be able to get anywhere else in the world," said Ispire Technology Co-Chief Executive Officer Michael Wang . "Our leading-edge products are the result of many years of intense research and development and follow the highest quality standards and latest compliance rules. We look forward to partnering with more like-minded individuals and companies like BrkFst and bringing consumers more of the products they want."

The products will be launched in Nigeria, Ghana and South Africa this month with full European Union and United Kingdom launches expected in Q2 2024.

About BrkFst
BrkFst is more than a lifestyle brand; it's a force that's reshaping the intersection of fashion and influencing the culture. We hope to bring that to the new BRKFST vapes. Our commitment is to redefine the narrative, creating a space that goes beyond trends and exclusivity, embracing an inclusive environment that welcomes all.

About Ispire Technology Inc.
Ispire is engaged in the research and development, design, commercialization, sales, marketing, and distribution of branded e-cigarettes and cannabis vaping products. The Company's operating subsidiaries own or license more than 500 patents received or filed globally. Ispire's tobacco products are marketed under the Aspire brand name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global distribution network. The Company's cannabis products are marketed under the Ispire brand name primarily on an original design manufacturer (ODM) basis to other cannabis vapor companies. Ispire sells its cannabis vaping hardware only in the U.S., and it recently commenced its marketing activities in Canada and Europe. For more information, visit www.ispiretechnology.com or follow Ispire on  Instagram, LinkedIn, Facebook, Twitter and YouTube.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company's ability to collect its accounts receivable in a timely manner, the Company's business strategies, the ability of the Company to market to the Ispire ONE™, Ispire ONE™'s success if meeting its goals, the ability of its customers to derive the anticipated benefits of the Ispire ONE™ and the success of their products on the markets; the Ispire ONE™ proving to be safe, and the risk and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Cautionary Note on Forward-Looking Statements" and the additional risk described in Ispire's Annual Report on Form 10-K for the year ended June 30, 2023 and any subsequent filings which Ispire makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

Investor Relations and Media Contacts:

For more information, kindly contact:

Investor Relations Contact:
Sherry Zheng
718-213-7386
ir@ispiretechnology.com

Media Contact:
Ellen Mellody
570-209-2947
ispire@kcsa.com

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SOURCE Ispire Technology Inc.

FAQ

What is the name of the company mentioned in the press release and its ticker symbol?

The company mentioned in the press release is Ispire Technology Inc. and its ticker symbol is ISPR.

Who did Ispire Technology Inc. collaborate with in the press release?

Ispire Technology Inc. collaborated with BrkFst, a lifestyle brand co-created by GRAMMY-Award winner Burna Boy.

Where will the products be launched first and when are the full European Union and United Kingdom launches expected?

The products will be launched in Nigeria, Ghana, and South Africa this month, with full European Union and United Kingdom launches expected in Q2 2024.