New World Completes Acquisition of Panyo AI Technologies

Rhea-AI Summary

New World Solutions has successfully acquired Panyo AI Technologies, a leader in the electric vehicle (EV) rental market, as of June 12, 2024. This strategic acquisition enhances New World's portfolio in the EV sharing market. The transaction involved a share exchange where New World issued 20,000,000 units, each consisting of one common share and one warrant, to Panyo's shareholders. CEO Paul Haber highlighted the acquisition as a significant milestone, expecting it to bring growth opportunities and strengthen their position in the market.

Positive

• Successful acquisition of Panyo AI Technologies, enhancing New World's presence in the EV sharing market.
• Issuance of 20,000,000 units to acquire 100% of Panyo’s shares, indicating strategic investment.
• CEO Paul Haber highlights the acquisition as a significant milestone for portfolio expansion and market position.

Negative

• Potential shareholder dilution due to the issuance of 20,000,000 new units.
• Lack of immediate financial data or revenue impacts from the acquisition in the PR.
• Possible integration challenges of Panyo’s operations into New World.

Toronto, Ontario--(Newsfile Corp. - June 12, 2024) - New World Solutions Inc. (CSE: NEWS) (OTC Pink: REGRF) (FSE: RT5) ("NEWS" or "New World" or the "Company") is pleased to announce the successful acquisition of Panyo AI Technologies Inc. ("Panyo") previously announced on June 4, 2024 that marks a significant expansion of New World Solutions' portfolio by enhancing its presence in the electric vehicle (EV) sharing market.

In this strategic move, New World has acquired 100% of the issued and outstanding shares of Panyo, a leading company in the electric vehicle (EV) rental market known for its innovative and eco-friendly transportation solutions.

Paul Haber, CEO of the Company, commented, "The acquisition of Panyo marks a significant milestone for New World as we continue to expand our portfolio and strengthen our position in the electric vehicle market. We are excited to integrate Panyo's operations and look forward to the growth opportunities this acquisition brings."

The acquisition was completed as a share exchange whereby as consideration for all of the issued and outstanding common shares of Panyo, the Company issued 20,000,000 units (the "Units") consisting of one common share and one common share purchase warrant of the Company to the shareholders of Panyo with each shareholder receiving a pro rata number of Units. See the news release dated June 4, 2024 for additional details regarding the transaction.

About Panyo AI Technologies

Panyo AI Technologies is dedicated to advancing eco-friendly transportation by making electric vehicles (EV) widely available through its services. The company is committed to enhancing urban mobility with a selection of stylish and comfortable electric vehicles, designed to meet the diverse needs of customers. Panyo AI Technologies' mission is to democratize access to electric vehicles, providing sustainable and accessible transportation solutions for everyone.

To learn more about Panyo, please visit: https://www.panyotech.com/.

About New World

New World Solutions is a technology company focused on providing solutions to new world problems. Through our blockchain and technology experience we are leveraging solutions in the decentralized finance space as well as the electric vehicle area. We look to acquire and launch a balanced spectrum of solutions to become a leader in this dynamic tech landscape.

For additional information on New World and other corporate information, please visit the company website at https://www.newworldinc.io/.

For further information, please contact:

Paul Haber, C.P.A., C.A., C.Dir
Chief Executive Officer, and Chairman
New World Solutions Inc.
Phone: (416) 318- 6501
Email: phaber@newwolrdinc.io

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information in this news release are based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties, and other factors, which may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the risks associated with the blockchain in general, the risk that the Transaction will not be completed as contemplated or at all. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

The Canadian Stock Exchange (the "CSE") does not accept responsibility for the adequacy or accuracy of this release.

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212707

FAQ

What is the significance of New World Solutions acquiring Panyo AI Technologies?

The acquisition enhances New World's portfolio in the electric vehicle sharing market, signifying a strategic expansion.

When was the acquisition of Panyo AI Technologies by New World Solutions completed?

The acquisition was completed on June 12, 2024.

How many units were issued by New World Solutions to acquire Panyo AI Technologies?

New World issued 20,000,000 units, each consisting of one common share and one warrant.

What is the expected impact of acquiring Panyo AI Technologies on New World Solutions?

The acquisition is expected to strengthen New World's position in the EV market and bring growth opportunities.