READEN HOLDING CORPORATION (OTC PINK: RHCO) SIGNS MOU TO ACQUIRE 80% STAKE IN MORRICH LOTTERY LIMITED, BRINGING THE READIES PAYMENT PLATFORM TO THE AFRICAN GAMING MARKET

Rhea-AI Summary

Readen Holding (OTC PINK: RHCO) has signed a Memorandum of Understanding (MOU) to acquire an 80% stake in Morrich Lottery , a licensed lottery operator in Nigeria. The acquisition will enable RHCO to expand Morrich's services to include Keno and scratch lottery games, with potential future casino offerings.

A key highlight is the integration of RHCO's Readies payment platform into Morrich Lottery operations, marking its first entry into the African market. Readies, operated under RHCO's Czech subsidiary Finexeble S.R.O., is a blockchain-powered hybrid payment platform supporting both fiat and crypto transactions.

The MOU includes a six-week due diligence period with an exclusivity clause. The transaction's completion depends on successful due diligence and definitive agreement negotiations.

Positive

• Strategic acquisition of 80% stake in a licensed Nigerian lottery operator
• First expansion of Readies payment platform into the African market
• Potential revenue growth through planned expansion into Keno and scratch lottery games
• Integration of both fiat and crypto payment capabilities in an emerging market

Negative

• Deal is subject to due diligence completion and final agreement
• Future casino offerings dependent on regulatory approval
• Execution risks in emerging market expansion

HONG KONG, April 21, 2025 /PRNewswire/ -- Readen Holding Corporation (OTC PINK: RHCO), a Venture Capital Corporation focused on the Fintech, Online Payment, and E-commerce sectors, today announced the signing of a Memorandum of Understanding (MOU) for the acquisition of an 80% equity stake in Morrich Lottery Limited, a licensed lottery operator in Nigeria.

The acquisition will enable RHCO to oversee the expansion of Morrich Lottery's services to include Keno and scratch lottery games, with a future roadmap to potentially incorporate casino offerings, subject to regulatory approval. Morrich Lottery Limited currently holds licensing capabilities that allow for operational expansion under Nigeria's regulatory framework.

A significant aspect of this agreement is the integration of RHCO's flagship digital payment solution, Readies, into all Morrich Lottery operations. This marks a major milestone for the Readies platform, as it makes its first official entry into the African market. Readies will be utilized as a core payment infrastructure across all Morrich Lottery channels, offering users a seamless, secure, and efficient way to engage with lottery services using both fiat and crypto transactions.

Readies is a blockchain-powered hybrid payment platform operated under Finexeble S.R.O., RHCO's licensed subsidiary in the Czech Republic. It integrates traditional finance with cryptocurrency, delivering faster settlements, lower transaction fees, and enhanced financial flexibility. The platform features cross-border payment capabilities and state-of-the-art fraud prevention—making it an ideal solution for gaming and digital transactions in emerging markets.

Under the terms of the MOU, RHCO will conduct a six-week due diligence process, during which Morrich Lottery will provide access to all necessary business and financial documentation. During this period, the Seller has agreed to an exclusivity clause, refraining from any negotiations with third parties. The transaction remains subject to the successful outcome of due diligence and the negotiation of definitive agreements.

This expansion into Nigeria not only signals RHCO's entry into the African market but also aligns with its broader vision to drive financial innovation globally by leveraging strategic partnerships and scalable technology.

Ridzky Berg, CEO of RHCO, commented: "This partnership not only strengthens our position in the global gaming industry but also brings the Readies platform to a vast and fast-growing consumer base in Africa. By embedding Readies into all of Morrich's lottery operations, we're creating a robust digital payment ecosystem that supports financial inclusion, enhances user experience, and reinforces our long-term fintech strategy."

About Morrich Lottery Limited
Morrich Lottery Limited is a registered lottery operator in Nigeria, licensed to operate and expand into various lottery and gaming segments. The company is poised for rapid growth as it aligns with strategic international partners to scale its services and offerings.

Readen Holding Corp. (www.readenholdingcorp.com) is a publicly traded Venture Capital Corporation, with major holdings in the Fintech Industry and has been increasing its investment in E-commerce and E-payment sectors, such as;

OkePay:	www.okepay.biz
OkePay VPOS:	www.okepay.biz/vpos
Oke Partners / OkeApp:	www.okepartners.com
Oke Travel Club:	www.oketravelclub.com
OkToken:	oktoken.biz
Readies:	www.readies.biz
Neckermann Direct:	www.neckermanndirect.eu
Two Percent:	www.twopercent.hk
Finexeble:	www.finexeble.com

RHCO is a diversified holding company, with an operating history of over 30 years, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns, in order to maximize value for all shareholders. RHCO has subsidiaries and liaison offices in Europe and Asia.

For further information please contact RHCO at info@readenholdingcorp.com or +852 3950 5911

The RHCO corporate email address is info@readenholdingcorp.com

The RHCO corporate website can be accessed at www.readenholdingcorp.com

The RHCO Twitter account can be accessed at https://twitter.com/readenrhco

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Readen Holding Corp. to accomplish its stated plan of business. Readen Holding Corp. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Readen Holding Corp. or any other person.

Readen Holding Corp., RHCO announcement

 

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SOURCE Readen Holding Corp.

FAQ

What is the significance of RHCO's acquisition of Morrich Lottery ?

The acquisition represents RHCO's entry into the African gaming market and enables the expansion of Readies payment platform, allowing for both fiat and crypto transactions in lottery operations.

How much stake is RHCO acquiring in Morrich Lottery ?

RHCO is acquiring an 80% equity stake in Morrich Lottery , a licensed lottery operator in Nigeria.

What services will RHCO expand through Morrich Lottery?

RHCO plans to expand Morrich Lottery's services to include Keno and scratch lottery games, with potential future casino offerings subject to regulatory approval.

How will the Readies payment platform be integrated into Morrich Lottery?

Readies will serve as the core payment infrastructure across all Morrich Lottery channels, enabling seamless fiat and crypto transactions with faster settlements and lower fees.

What is the timeline for RHCO's acquisition of Morrich Lottery?

The MOU stipulates a six-week due diligence period, during which Morrich Lottery will provide access to business and financial documentation.