$SPZI JP 3E Holdings, Inc. Enters Agreement to Acq

$SPZI JP 3E Holdings, Inc. Enters Agreement to Acquire Majority Stake in Bloxcross, Inc.

https://www.globenewswire.com/news-release/20...s-Inc.html

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc. (OTC: SPZI), formerly known as Spooz, Inc., is excited to announce the signing of an agreement to acquire a majority ownership interest in Bloxcross, Inc. ("BLOX" . Bloxcross is a trailblazing digital assets innovation company, recognized for its groundbreaking platform that revolutionizes global bilateral trade, cross-border payments, and financial applications through advanced blockchain technologies.

This strategic investment signifies a pivotal moment for both entities. By merging their expertise, JP 3E Holdings aims to accelerate Bloxcross's global expansion while establishing a key operational foothold for advancing trade development, particularly in critical sectors such as Energy, Eatables, and Education.

John Park, Chairman, and CEO of JP 3E Holdings, expressed his enthusiasm about the agreement, stating, "We are delighted to embark on this journey of acquiring a majority stake in Bloxcross, Inc. Blox's AI-powered technology and its significant impact on global trade and payments management perfectly align with our diverse portfolio of businesses. Our previous collaboration on a cross-border trading platform has showcased the synergies between our organizations, making this acquisition a natural and strategic progression."

"JP 3E Holdings is strategically positioned as a platform company with a vision to establish a sustainable ecosystem spanning from downstream end buyers to upstream raw material suppliers, and midstream delivery channels. This strategic approach aims to ensure long-term viability and consistent gross margins for the company. In line with this strategic vision, we are thrilled to announce JP 3E's investment in Bloxcross as its trade financing platform,” continued Mr Park.

According to recent evaluations, the global trade finance market size reached a substantial $10.52 trillion in 2023, underlining the immense potential of this sector. Bloxcross, with its innovative solutions and market expertise, presents a compelling opportunity for JP 3E to solidify its position as a key player in the industry.

This acquisition not only enhances JP 3E's market presence but also underscores its commitment to delivering comprehensive trade financing solutions. By integrating Bloxcross into its ecosystem, JP 3E intends to offer a wide range of services tailored to meet the evolving needs of the global trade landscape.

JP 3E is excited about the potential synergies and growth opportunities this acquisition brings. We are confident that leveraging Bloxcross's capabilities will enable us to drive innovation, create value for our stakeholders, and establish JP 3E as a leader in the global trade finance arena.

Diego Baez, CEO of Bloxcross, Inc., echoed Park's sentiments, affirming, "At BLOX, we leverage AI-driven digital asset technologies to innovate within global payments and trade finance. Partnering with JP 3E's extensive network and portfolio of companies represents a significant milestone in our quest to deliver our services on a global scale."

The agreement symbolizes a joint commitment to driving innovation, fostering growth, and expanding the reach of digital asset technologies in the global marketplace. The transaction is expected to be completed in the next 60 days.