New World Completes Acquisition of Majority Stake in dialMKT

New World Solutions Inc. (CSE:NEWS)(OTC PINK:REGRF)(FRA:RT5) has successfully acquired a 51% stake in dialMKT Corp, as announced on September 3, 2024. The acquisition, completed on September 10, 2024, involved a share purchase agreement dated August 30, 2024, between New World, 1491150 B.C. Ltd., and the shareholders of dialMKT Holdco.

With this strategic move, New World gains a majority interest in dialMKT, which is developing a digital ecosystem for the global wristwatch market, valued at $31 billion. The platform leverages blockchain technology to address issues like authenticity verification and ownership history in the pre-owned watch market.

As part of the agreement, New World issued 45,000,000 units to dialMKT Holdco’s shareholders. Each unit comprises one common share and 0.35 of a common share purchase warrant. These warrants allow the holder to acquire additional shares at $0.05 per share for two years, subject to conditions. Paul Haber, CEO of New World, highlighted the potential growth opportunities this acquisition brings.

Additionally, Charles Park and Young Cho Lee have resigned from New World’s board, with Jacob Marks appointed as a new director and chairman.