Logiq’s Spin-off Subsidiary, ‘GoLogiq’ Appoints Dedicated Executive Team

Rhea-AI Summary

Logiq, Inc. (OTCQX: LGIQ) has announced the formation of a dedicated executive team for its newly branded entity, GoLogiq, following the transfer of AppLogiq assets to Lovarra. This asset transfer aligns with a pro rata distribution of Lovarra ownership to shareholders by mid-2022. The new executive team, led by Matt Brent as CEO, aims to enhance the company’s focus on mobile fintech solutions in Southeast Asia. The leadership’s extensive experience is expected to drive growth and create value for investors as GoLogiq pursues strategic opportunities.

Positive

• Formation of a dedicated executive team to enhance focus on business strategies.
• Experienced leadership with extensive backgrounds in fintech and emerging markets.
• Anticipated pro rata distribution of Lovarra shares may benefit shareholders.

Negative

• Transition to a new brand (GoLogiq) may cause initial market uncertainty.
• Concerns about continuity and potential experience gaps in management during transition.

Newly appointed, dedicated executive team follows Logiq’s transfer last week of AppLogiq assets into publicly traded entity Lovarra

NEW YORK, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Logiq, Inc. (OTCQX: LGIQ, NEO: LGIQ) (“the Company”), a global provider of mobile fintech solutions for digital transformation and financial inclusion in emerging markets -- has announced its initial dedicated ‘GoLogiq’ executive management team appointments.

On January 27, Logiq announced it had transferred its AppLogiq Division assets into Lovarra, with a planned corresponding distribution, on a pro rata basis, of 100 percent of the Company’s ownership interests in Lovarra to the Company’s shareholders of record of Dec. 30, 2021 that is expected to close approximately six months from now.

The Company is now rebranded as ‘GoLogiq’ and going forward, it will be referred to as GoLogiq. An application to FINRA to formally change the Lovarra and OTC Markets ticker symbol to GoLogiq is in process.

With the Logiq asset transfer of GoLogiq completed, both businesses now have a sharper focus, dedicated management teams, and greater flexibility to pursue new business and strategic opportunities in their respective markets which they anticipate will unlock new opportunities and value for shareholders.

GoLogiq Executive Appointments

• Matt Brent has been appointed Chief Executive Officer, and Executive Chairman of the GoLogiq Board of Directors. He brings 15 years’ international management and business experience in mobile software, product development and strategy having built and led teams from across North America, China, and Southeast Asia for fintech, edutech, entertainment, and media.
  
  Mr. Brent joined GoLogiq in 2016 when it was named Weyland Tech. During that time, as Chief Strategy Officer, he has been instrumental in developing strategic partnerships and regional opportunities throughout Southeast Asia, driving the establishment and growth of GoLogiq’s Indonesian affiliate, PT Weyland Indonesia Perkasa.
  
  Prior to GoLogiq, Mr. Brent had a diverse career in software technology and product development serving both in production and management roles. He began his career in Silicon Valley with companies and clients including Sony Computer Entertainment America, The Upper Deck Company, The Sesame Street Workshop, and Activision Blizzard before relocating to Hong Kong to focus on emerging market opportunities where he was based until 2018.

• Thet Twe Aung has been appointed Chief Technology Officer. He is a highly credentialed software industry professional with over 12 years of experience developing, architecting, and managing infrastructure and operations. Previously, Mr. Aung served as CTO at Logiq where he helped spearhead growth and technology product and service management initiatives.
  
  
• Eddie Foong has been appointed Chief Product Officer. The founder of CreateApp, Mr. Foong brings over 17 years of experience in IT, sales and marketing, and operations. He was instrumental in an RFID technology company that developed and changed the Singapore National Library Books borrowing system nationwide. Previously, he headed the sales and marketing department of IT within MNCs and government agencies.
  

Commenting on its newly dedicated executive team, GoLogiq Executive Chairman and CEO Matt Brent, said, “Our business operates in a unique sector serving the nascent, huge and rapidly growing Southeast Asia region with a variety of state-of-the-art mobile fintech solutions for its massively underserved marketplace.

“Operating in emerging markets requires acute insight, experience on the ground and connectivity. From a cultural and regulatory perspective, SE Asia is one of the most dynamic, diverse, and fragmented markets in the world,” he added. “We are excited to install a seasoned group of individuals with deep roots in the region and a tremendous knowledge of mobile technology and fintech to enhance our current platform offerings and rapidly create new channels for customer acquisition.”

Brent Suen, CEO of Logiq, said, “GoLogiq leadership’s extraordinary depth of experience and connections throughout the region as well as its technological acumen is a powerful competitive advantage. I’ve had the pleasure of working with Matt, Thet and Eddie, and their decades-long experience working in emerging markets is a terrific asset for GoLogiq. We are confident the GoLogiq leadership, tech and operations will create the most value as a standalone company.”

About GoLogiq
GoLogiq Inc. is a U.S.-based leading global provider of mobile solutions for digital transformation and financial inclusion in Southeast Asia and emerging markets. The company consists of three main software platforms that includes: CreateApp, a mobile app development and publishing platform for small business; AtozGo, a ‘hyper-local’ app-based delivery system that has over 15,000 local merchants and 160,000 members and partnerships with large regional businesses including ShopeePay and GRAB Food; and AtozPay, an eWallet for mobile top-up, e-commerce purchases, bill payment and microfinance operating in Indonesia and has partnerships with Finnet, Comviva and YABX.

Connect with GoLogiq: Website | LinkedIn  

About Logiq
Logiq Inc. is a U.S.-based leading global provider of e-commerce and customer acquisition solutions. It provides a data-driven, end-to-end marketing and consumer acquisition solution. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend and personalization.

Connect with Logiq: Website | LinkedIn | Twitter| Facebook.

Company Contact
contact@gologiq.com

Media & Investor Contact
800-764-1238 
chrislacoursiere@gologiq.com

FAQ

What changes have occurred in the executive team of Logiq (LGIQ)?

Logiq has rebranded as GoLogiq and appointed Matt Brent as CEO, along with Thet Twe Aung as CTO and Eddie Foong as Chief Product Officer.

When will the asset transfer from Logiq to Lovarra be completed?

The transfer is expected to close approximately six months from the announcement on January 27, 2022.

How does the new executive team impact GoLogiq’s operations?

The new executive team is expected to leverage their extensive experience in fintech to enhance business operations and strategic opportunities.

What is the significance of the pro rata distribution of Lovarra shares to LGIQ shareholders?

The pro rata distribution of Lovarra shares is anticipated to create value for shareholders, reflecting ownership interests in the newly formed entity.

What is GoLogiq’s focus after the rebranding from Logiq?

GoLogiq will focus on mobile fintech solutions and digital transformation in emerging markets, particularly Southeast Asia.