LOS
ANGELES, Oct. 7, 2024 /PRNewswire/
-- Ispire Technology Inc. ("Ispire" or the "Company")
(NASDAQ: ISPR), a leader in the development and commercialization
of vaping technology and precision dosing, announced a landmark
five-year master distributor agreement with ANDS, a leading
distributor in the MENA region specializing in non-combustion
nicotine delivery solutions based in Dubai. This partnership marks a
significant step in Ispire's global expansion strategy, enabling
the company to bring its Hidden Hills Club nicotine portfolio to
the Middle East, North Africa (MENA) region and Global
Duty-Free markets.
Under the agreement, Ispire and ANDS will commercialize the
Hidden Hills Club brand across 20+ MENA markets, leveraging ANDS'
extensive partnerships with major duty-free operators, providing
access to more than 45 airports, cruise ships, airlines and
diplomatic facilities.
"This collaboration is a pivotal moment for Ispire as we
continue to expand our global footprint at a time when consumers
are looking for harm-reduced products to transition away from
combustible cigarettes," said Michael
Wang, Co-Chief Executive Officer of Ispire Technology. "By
partnering with ANDS, we gain access to one of the fastest-growing
regions in the world, where smoking rates remain high, but there is
a significant demand for harm-reduced products. With ANDS' robust
regulatory, legal, compliance, brand building, sales and
distribution expertise as well as local market insights, we are
well-positioned to bring the Hidden Hills Club nicotine portfolio
to new markets, offering consumers innovative, harm-reduction
alternatives to combustible cigarettes."
"We are thrilled to collaborate with Ispire to bring the Hidden
Hills Club nicotine products and their marketing power to the MENA
region and Global Duty-Free markets," said ANDS Co-Founder and CEO
Fadi Maayta. "With Ispire's
cutting-edge products and our extensive reach and expertise, we are
confident that this partnership will provide consumers with
innovative nicotine delivery solutions that will bring potentially
reduced risk products to adult smokers. Together, we aim to meet
the evolving needs of consumers in the region while ensuring
compliance with local laws and regulations."
The MENA region is one of the fastest-growing markets for
alternative nicotine products, where harm reduction is becoming
increasingly important. Through this partnership, Ispire and ANDS
will offer a comprehensive range of products, including vape
devices and nicotine pouches, tailored to meet local demand and
preferences.
About ANDS
ANDS is an institution dedicated to the
goal of switching adult smokers to potentially reduced-risk
products. Utilizing decades of combined experience in Tobacco,
Electronic Nicotine Delivery Solutions, Heated Tobacco products,
and FMCG, affirming that adult smokers are entitled to better
alternatives than continuing to smoke conventional cigarettes.
About Ispire Technology Inc.
Ispire is engaged in the research and development, design,
commercialization, sales, marketing and distribution of branded
e-cigarettes and cannabis vaping products. The Company's operating
subsidiaries own or license more than 200 patents worldwide.
Ispire's branded e-cigarette products are marketed under the Aspire
name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global
distribution network. The Company also engages in original design
manufacture (ODM) relationships with e-cigarette brands and
retailers worldwide. The Company's cannabis products are marketed
under the Ispire brand name primarily on an ODM basis to other
cannabis vapor companies. Ispire sells its cannabis vaping hardware
in the US, Europe and South Africa, and it recently commenced
marketing activities and customer engagement in Canada and Latin
America. For more information,
visit www.ispiretechnology.com or follow Ispire on
Instagram, LinkedIn, Facebook, Twitter and YouTube.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
("Securities Act") as well as Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995, as amended, that are intended to be
covered by the safe harbor created by those sections.
Forward-looking statements, which are based on certain assumptions
and describe the Company's future plans, strategies and
expectations, can generally be identified by the use of
forward-looking terms such as "believe," "expect," "may," "will,"
"should," "would," "could," "seek," "intend," "plan," "goal,"
"project," "estimate," "anticipate," "strategy," "future," "likely"
or other comparable terms, although not all forward-looking
statements contain these identifying words. All statements other
than statements of historical facts included in this press release
regarding the Company's strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Important factors that could cause the Company's actual
results and financial condition to differ materially from those
indicated in the forward-looking statements. Such forward-looking
statements include, but are not limited to, risks and uncertainties
including those regarding: the Company's ability to collect its
accounts receivable in a timely manner, the Company's business
strategies, the ability of the Company to market to the Ispire
ONE™, Ispire ONE's success if meeting its goals, the ability of its
customers to derive the anticipated benefits of the Ispire ONE™ and
the success of their products on the markets; the Ispire ONE™
proving to be safe, and the risk and uncertainties described in
"Risk Factors," "Management's Discussion and Analysis of Financial
Condition and Results of Operations," "Cautionary Note on
Forward-Looking Statements" and the additional risk described in
Ispire's Annual Report on Form 10-K for the year ended June
30, 2023 and any subsequent filings which Ispire makes with the
U.S. Securities and Exchange Commission. You should not rely upon
forward-looking statements as predictions of future events. The
forward-looking statements made in the press release relate only to
events or information as of the date on which the statements are
made in the press release. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events except as required by law. You should read
this press release with the understanding that our actual future
results may be materially different from what we expect.
IR Contacts:
For more information, kindly contact:
Investor Relations
Sherry Zheng
718.213.7386
ir@ispiretechnology.com
KCSA Strategic Communications
Phil Carlson
212.896.1233
ispire@kcsa.com
PR Contact:
Ellen Mellody
570.209.2947
EMellody@kcsa.com
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SOURCE Ispire Technology Inc.