IRVINE, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. ("Vemanti" or the "Company") (OTCQB: VMNT) today announced the signing of a Share Purchase Agreement (“SPA”) to acquire a majority controlling stake in XPLOR Technology Pte. Ltd. (“XPLOR”), the Singapore-based parent company of the innovative cryptocurrency exchange platform, ONUS Pro (https://goonus.io). This marks a significant achievement in its strategic expansion back into the fintech sector and is a critical step towards achieving the financial fundamentals required for uplisting to NASDAQ. It also positions the Company at the forefront of the rapidly growing cryptocurrency market and underscores its commitment to integrating advanced financial technologies into its portfolio.
Key Highlights:
Agreement Signed: The Company has officially signed the SPA to acquire a 51% stake in XPLOR, the sole owner of ONUS Finance UAB (“ONUS Finance”), significantly progressing beyond initial discussions and nearing the final stages of the acquisition process. ONUS Finance operates the cryptocurrency exchange platform, ONUS Pro. As the parent company of ONUS Finance UAB, XPLOR holds the intellectual property and retains all revenue and profits associated with ONUS Pro.
Closing & Integration: With final deliverables underway, the closure of this deal is expected to occur in Q1. Upon closing, ONUS Pro's financial performance will be fully integrated into the Company’s financial statements, solidifying its business outlook and credentials for NASDAQ uplisting.
Future Plans: Post-acquisition, Vemanti plans to relaunch a USD-backed stablecoin designed to optimize cross-border transactions, reinforcing its commitment to removing financial barriers and enhancing user experiences.
ONUS Pro’s robust technology and extensive user base are instrumental to this strategic acquisition. Known for its advanced security measures and user-centric design, ONUS Pro caters to over 4.5 million users in Vietnam, providing a comprehensive ecosystem of investment products and extending the Company’s technological reach and operational depth. At the time of this press release, its 24h total trading volume was valued at approximately $561M as reported by the CoinMarketCap app (https://coinmarketcap.com).
“This acquisition represents not just a milestone for Vemanti but also a leap toward our enduring vision,” stated Tan Tran, CEO of Vemanti Group. “Securing this agreement underscores our commitment to executing our plans and delivering real value to our shareholders. It vastly enhances our financial profile, bringing us to the brink of achieving our goal of NASDAQ uplisting. The integration of ONUS Pro’s platform and its digital financial products promises to streamline real-world financial transactions for approximately 700 million people in Southeast Asia.”
Vemanti Group, Inc. is a diversified technology holding company with a focus on the emerging markets of Southeast Asia. We operate across various sectors of leading-edge digital financial services. We seek growth through strategic partnerships, joint ventures, or mergers and acquisitions with established businesses. By leveraging synergies and complementary strengths of these relationships, we look to diversify and expand our market reach. Ultimately, as a publicly traded company, we're committed to creating long-term value for our shareholders while actively seeking out new opportunities. Learn more at: https://vemanti.com
About XPLOR
XPLOR Technology Pte. Ltd. is a technology-focused holding company based in Singapore, managing a portfolio of next-generation financial technology ventures. The company is dedicated to harnessing trend-setting technology to redefine the financial landscape. It invests in and supports projects that push the boundaries of digital finance, focusing on scalability, security, and user-centric innovations. With a strong approach to integrating advanced technological solutions across its subsidiaries, XPLOR ensures that each entity is well-equipped to lead in their respective markets, driving progress and profitability in the dynamic fintech sector.
About Onus Finance
Onus Finance UAB is a financial services company that offers a crypto wallet and exchange for buying and selling digital assets. Established in April 2022 and headquartered in Vilnius, Lithuania, Onus Finance UAB is a pioneer of financial innovation, offering cutting-edge cryptocurrency solutions. As the flagship offering of ONUS Finance, ONUS Pro provides a state-of-the-art platform for cryptocurrency trading, prioritizing security, user-friendly interfaces, and advanced trading features to serve a global clientele. It’s arguably one of the most recognized exchanges in Southeast Asia. The platform provides a complete ecosystem of investment products, offering access to over 600 assets.
Legal Disclaimer
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filing with the Securities and Exchange Commission (“SEC”) prior to January 23, 2025. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s filings with the SEC prior to January 23, 2025. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact Information
Vemanti Group, Inc. Investor Relations +1.949.559.7200 ir@vemanti.com
