Starfleet Innotech and PPM Toys Execute an MOU Agreement for Starfleet to Acquire a Majority Ownership Interest in PPM Toys
New York, New York--(Newsfile Corp. - March 13, 2023) - Starfleet Innotech, Inc. (OTC Pink: SFIO) ("Starfleet"), a US global investment holding company, and PPM Toys (the "Company"), a Mexican founded toy manufacturing and licensing Company, with offices in Hong Kong and the US, announced today that they have signed a Memorandum of Understanding (MOU) for Starfleet to acquire a majority investment in the Company. For this press release, individually each is the party (the "Party") and together the parties (the "Parties").
Following an initial Letter of Interest (LOI) signed by the Parties, this MOU serves as the culmination of a period of due diligence and the negotiation of the fundamental terms and conditions for the acquisition. This includes the Company restructuring and change in headquarters location to the US. This will enable better access to capital resources and to enhance the development of a combined global strategy focused on accelerating the growth and valuation efforts of both Companies by more cost-effectively applying their resources to the changing technology and business conditions of the industry. Under this agreement, PPM Toys CEO Carlos Iga Saade will continue to lead the Company's operations as Chief Executive Officer, and he will also remain as a minority stockholder in the Company.
Currently, PPM Toys, with headquarters in Monterrey, Mexico, has a US-based company presence and office in Hong Kong. The Company specializes in the commercialization, development, and distribution of toys and electronic entertainment. PPM Toys has a 35-year business history in these fields and has sold millions of toys for brands including Barbie (Mattel), Tonka, Peanuts, Hasbro properties, and Warner Brothers properties. PPM counts regional giants such as Walmart, Amazon, Mercado Libre, Liverpool, and Coppel (Mexico's largest department store chain) among their clients.
PPM Toys' CEO Carlos Iga Saade said, "We are overly excited to be joining the Starfleet community and being able to leverage their strategic management, financial support, and improved target marketing due to their global presence. Additionally, the utilization of their technology resources will further enhance our ability to provide better quality traditional products and develop e-commerce and new digital products that are consistent with the change of consumer interests and demand for such products internationally."
Among the group's top priorities in their strategic shared value creation plan and/or platform is a focus on strengthening the Company's e-commerce operations to better capture opportunities across international markets. Beyond the online marketplace and digital marketing management, Starfleet will be supporting the expansion of PPM Toys' metaverse strategy. This covers the creation, marketing, and management of branded digital collectibles (non-fungible tokens, or NFTs) to be sold alongside the Company's physical products. According to the Company, revenues from these initiatives could strongly impact 2023 growth and function as a foundation for additional future annualized growth.
Starfleet Innotech CEO Jeths Lacson said, "The purpose of this acquisition is to enhance stockholder value. To that end, we want to congratulate the combined efforts of both the Starfleet and PPM teams for structuring the combination of the two companies and their resources. When we first entered into talks with PPM Toys in 2022, we saw the Company as an ideal "launching pad" to bring some of the world's most beloved brands to new markets and into the metaverse. Today, we are continuing to identify and develop new business opportunities with PPM, putting our global network at their disposal to help scale a transitional and growth business. As always, we expect this combination to enhance the growth of our combined revenues, improving our combined valuation for the benefit of our stockholders."
About Starfleet Innotech, Inc.
Starfleet Innotech, Inc. (OTC Pink: SFIO) is a global investment holding company focused on innovation by identifying disruptive collaborations, both within and outside its three key industries, which include: Food and Beverage (F&B), Real Estate, and Technology. With a strong presence across New Zealand, Australia, Malaysia, the United Arab Emirates, the United States, and the Philippines, Starfleet strategically invests in potential high-growth businesses, building synergies across its diverse portfolio to provide maximum stockholder value. Guided by tradition, driven by innovation, and enabled by collaboration-Starfleet is focusing its resources on a growth trajectory to build a global business ecosystem, as reflected by its diverse industry investments.
About PPM Toys
PPM Toys is a Mexican founded Company, with headquarters in Monterrey Mexico and with offices in Hong Kong and the US. The Company specializes in the commercialization, development, and distribution of toys and electronic entertainment. For over 35 years, PPM Toys has been involved in these fields selling millions toys for brands including Barbie (Mattel), Tonka, Peanuts, Hasbro properties, and Warner Brothers properties. PPM counts regional giants such as Walmart, Amazon, Mercado Libre, Liverpool, and Coppel (Mexico's largest department store chain) among their clients.
For media enquiries, please contact:
Craymond Yeong, PR & Marketing Specialist
Starfleet Innotech, Inc.
Phone: (+64) 21 0833 2966
Email: info@sfio.co.nz
Twitter: @SFIO_Inc
Facebook: SFIO
YouTube: SFIO (Starfleet Innotech)
FORWARD-LOOKING STATEMENTS
The statements contained herein may contain certain forward-looking statements relating to Starfleet Innotech, Inc. "Starfleet" that are based on the beliefs of Starfleet as well as assumptions made by and information currently available to Starfleet's management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to Starfleet's business prospects, future developments, trends and conditions in the industry and geographical markets in which Starfleet operates, its strategies, plans, objectives and goals, its ability to control costs, statements relating to prices, volumes, operations, margins, capital expenditures, overall market trends, risk management and exchange rates.
When used herein, the words "anticipate", "believe", "could", "estimate", "expect", "going forward", "intend", "may", "ought to", "plan", "project", "seek", "should", "will", "would" and similar expressions, as they relate to Starfleet or Starfleet's management, are intended to identify forward-looking statements. These forward-looking statements reflect the Starfleet's views at the time such statement was made with respect to future events and are not a guarantee of future performance or developments. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Actual results and events may differ materially from information contained in the forward-looking statements as a result of a number of factors, including any changes in the laws, rules and regulations relating to any aspects of Starfleet's business operations, general economic, market and business conditions, including capital market developments, changes or volatility in interest rates, foreign exchange rates, equity prices or other rates or prices, the actions and developments of the Starfleet's competitors and the effects of competition in the food manufacturer and service sector , technology applications and components, and real estate development. Sales and property management on the demand for, and price of, Starfleet's products and services, various business opportunities that Starfleet may or may not pursue, changes in population growth and other demographic trends, including mortality, pandemics, morbidity and longevity rates, persistency levels, Starfleet's ability to identify, measure, monitor and control risks in Starfleet's business, including its ability to manage and adapt its overall risk profile and risk management practices, its ability to properly price its products and services, including property development capital expenditures and establish reserves for future policy benefits and claims, seasonal fluctuations and factors beyond the Starfleet's control. Subject to the requirements of the Listing Rules, Starfleet does not intend to update or otherwise revise such forward-looking statements, whether as a result of new information, future events or otherwise. As a result of these and other risks, uncertainties and assumptions, forward-looking events and circumstances discussed herein might not occur in the way Starfleet expects, or at all. Accordingly, you should not place reliance on any forward-looking information or statements. All forward-looking statements herein are qualified by reference to the cautionary statements set forth in this section.
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