NOT FOR DISTRIBUTION IN THE UNITED STATES

TORONTO, July 30, 2018 (GLOBE NEWSWIRE) -- Sarment Holding Pte Ltd. (to be renamed Sarment Holding Limited) (“ Sarment ”) is pleased to announce that it has obtained a receipt for its final prospectus filed with the securities regulatory authorities in each of the provinces and territories of Canada, except Québec, in connection with the initial public offering (the “ Offering ”) of a minimum of 6,031,746 ordinary shares (“ Ordinary Shares ”) of Sarment (the “ Minimum Offering ”) and a maximum of 10,476,190 Ordinary Shares (the “ Maximum Offering ”) at a price of $3.15 per Ordinary Share (the “ Offering Price ”) for total gross proceeds of CAD$19 million in the case of the Minimum Offering and CAD$33 million in the case of the Maximum Offering. A copy of the final prospectus in respect of the Offering is available on SEDAR at www.sedar.com .

The Offering is being managed by a syndicate of agents, led by Haywood Securities Inc., and including Canaccord Genuity Corp., Cormark Securities Inc. and Paradigm Capital Inc. (collectively, the “ Agents ”).

Sarment has granted the Agents an over-allotment option (the “ Over-Allotment Option ”), exercisable in whole or in part for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the aggregate number of Ordinary Shares issued on the closing date of the Offering at the Offering Price of $3.15 per Ordinary Share for additional gross proceeds of approximately CAD$4.9 million in the case of the Maximum Offering, assuming the Over-Allotment Option is exercised in full.

The closing of the Offering is expected to occur on or about August 14, 2018 (the “ Closing Date ”) and is subject to customary closing conditions, including the receipt of all necessary regulatory approvals. Sarment has received conditional listing approval of the TSX Venture Exchange (the “ TSXV ”) for the listing of the Ordinary Shares being issued and sold pursuant to the Offering. Listing remains subject to Sarment fulfilling TSXV requirements. The Ordinary Shares are expected to commence trading on the TSXV under the symbol “SAIS”.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Ordinary Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”) or any state securities laws. Accordingly, the Ordinary Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Sarment in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Sarment

Sarment is Singapore-based and operates a luxury marketplace focused on offering curated luxury goods and services to High-Net-Worth and Ultra-High-Net-Worth individuals. Sarment’s AI-based digital ecosystem provides intelligent personal services focusing on creating unique luxury experiences. Sarment’s objective is to become the leader in global luxury lifestyle management and the preeminent marketplace for this market segment. Since its establishment in 2012, Sarment has expanded throughout Asia and is now seeking global expansion.

Forward-Looking Statements

Certain statements contained in this press release contain “forward-looking information” (“forward-looking statements”) within the meaning of Canadian securities laws, including statements regarding the successful completion of the Offering and the anticipated Closing Date. These forward-looking statements represent Sarment's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, including conditions to closing this Offering, many of which are outside of Sarment’s control, which could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Sarment does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Sarment to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Sarment’s final prospectus filed with the applicable Canadian securities regulatory authorities in connection with the Offering. The risk factors and other factors noted in Sarment’s final prospectus could cause actual events or Sarment’s actual results to differ materially from those contained in any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact: Joanne Lee joanne.lee@sarment.com +65 6424 0417