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Starfleet Innotech and PPM Toys Execute an MOU Agreement for Starfleet to Acquire a Majority Ownership Interest in PPM Toys

Press Release
Release date:
March 13, 2023

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."

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