Professional Diversity Network, Inc. (NASDAQ: IPDN) (“PDN” or
“Company”), a developer and operator of online and in-person
diversity talent networks that provides access to networking,
training, educational and employment opportunities for diverse
individuals, announced that the Company, pursuant to a stock
purchase agreement with Koala Malta Limited (“KML”) dated as of
September 27, 2022, a private limited liability company registered
under the laws of Malta and 100% owned by Koala Capital Limited,
has purchased a nine (9) percent interest in Koala Crypto Limited
(“Koala”), the crypto asset exchange division of KML, for an
investment amount of $1,350,000 to be funded by the issuance of
restricted shares of PDN common stock. Following the transaction,
PDN plans to extend its job boards into the blockchain industry,
using its large diversity network.
“While we are always looking for investment opportunities to
grow our core business, we believe that this investment in Koala
will enhance our value. We have every intention to maintain and
elevate our core business, which is to operate a best in class
professional networking communities with career opportunities and
resources specifically tailored to the needs of different diverse
cultural groups,” said Adam He, Chief Executive Officer for
PDN.
“The strategic investment from PDN will promote Koala’s future
success and enhance its financial position. We are fully convinced
that the addition of PDN as a shareholder will benefit Koala’s
platform. We strongly believe that further synergy can be developed
between PDN and Koala to bring in new profit streams to both
parties,” said Raymond Xu, director of Koala.
Koala, along with Koala Money Limited (a separate subsidiary of
KML in which PDN does not have a financial interest), is developing
an integrated platform for crypto assets and electronic money.
Regulated under European financial regulations and supervised by
the Malta Financial Services Authority, Koala Money Limited seeks
to provide secure payment solutions for a global community of
retail and institutional clients through a single platform with
Koala, which will be accessible via desktop or mobile phone.
About Professional Diversity Network, Inc.
Professional Diversity Network, Inc. (PDN) is a developer and
operator of online and in-person diversity job seeker networks that
provides access to networking, training, educational and employment
opportunities for diverse professionals. Through our online
platforms and partnerships, we provide hiring employers a means to
identify and acquire diverse talent and assist them with DEI
efforts. Our mission is to utilize the collective strength of our
affiliate companies, members, partners and unique proprietary
platform to be the standard in business diversity recruiting,
networking and professional development for women, minorities,
veterans, LGBT and disabled persons globally.
For more information about PDN, please visit:
www.prodivnet.com
About the Koala Platform
Koala obtained the first VFA Class 4 license issued by the Malta
Financial Services Authority, with an aim to build the largest
crypto assets trading exchange with social functions and to provide
high quality services to clients with different culture and
language background, 24/7. Koala voluntarily surrendered it license
in order to afford it more time to develop and launch its platform
and plans to promptly apply to reinstate the license.
For more information about the Koala Platform, please visit:
https://koala-capital.co.uk/
Forward-Looking Statements
This press release contains information about PDN's view of its
future expectations, plans, and prospects that constitute
forward-looking statements. These forward-looking statements are
made under the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995, as amended. All
statements other than statements of historical facts in this
announcement are forward-looking statements, including, but not
limited to: any projections of earnings, revenue, or other
financial items; any statements regarding the adequacy,
availability, and sources of capital, any statements of the plans,
strategies, and objectives of management for future operations; any
statements regarding the future benefits of the investment
described in this release, including the development of new revenue
streams or the availability of distributions on any securities; any
statements relating to the future reinstatement of the license
described in this release by the applicable regulatory authorities;
any statements concerning proposed new products, services, or
developments; any statements regarding future economic conditions
or performance; any statements of belief; and any statements of
assumptions underlying any of the foregoing. In addition, there is
uncertainty about the continuous spread of the COVID-19 virus and
the impact it may have on the Company’s operations, the demand for
the Company’s products, and global economic activity in general.
PDN may also make written or oral forward-looking statements in its
periodic reports to the SEC, in its annual report to shareholders,
in press releases and other written materials, and in oral
statements made by its officers, directors, or employees to third
parties. Statements that are not historical facts, including
statements about PDN’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties, whether known or unknown, and are
based on current expectations and projections about future events
and financial trends that the Company believes may affect its
financial condition, results of operations, business strategy, and
financial needs. Investors can identify these forward-looking
statements by words or phrases such as “may,” “will,” “will make,”
“will be,” “expect,” “anticipate,” “aim,” “estimate,” “intend,”
“plan,” “believe,” “potential,” “continue,” “endeavor to,” “is/are
likely to,” or other similar expressions. Further information
regarding these and other risks is included in our annual report
and other filings with the U.S. Securities and Exchange Commission
(the “SEC”). All information provided in this press release is as
of the date of this press release, and PDN undertakes no obligation
to update any forward-looking statements, except as may be required
under applicable law.
Press Contact for IPDN:
For further information, please contact:Professional Diversity
Network, Inc.Tel: (312) 614-0950Email: investors@ipdnusa.com
Source: Professional Diversity Network, Inc.
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