Logiq Engages The Benchmark Company to Explore Restructuring Initiative
NEW YORK, Sept. 30, 2021 (GLOBE NEWSWIRE) — Logiq Inc. (NEO:LGIQ)(OTCQX:LGIQ), a global provider of award-winning e-commerce and fintech solutions, has engaged The Benchmark Company to assist Logiq in a recently announced restructuring initiative for enhancing shareholder value.
These alternatives could include, among others, mergers and acquisitions for Logiq’s DataLogiq business, which provides data-driven, end-to-end e-commerce marketing solutions. It could also include the spinoff of Logiq’s AppLogiq business into another public or private company, IPO or trade sale. AppLogiq includes PayLogiq™ e-Wallet, GoLogiq™ hyper-local food delivery, and other mobile e-commerce solutions, as well as a recently announced mobile fintech platform for microlending.
“Our e-commerce, m-commerce and fintech markets present a multitude of opportunities for consolidation, strategic partnerships, and other potential transactions,” stated Brent Suen, president of Logiq. “In particular, the fragmented digital marketing industry offers attractive opportunities for consolidation, whereas the Southeast Asia fintech market offers great potential for growth.
“In light of this, management and our board of directors concluded that it would be an opportune time to evaluate potential M&A and other strategic alternatives with the assistance of Benchmark, and with the ultimate goal of maximizing shareholder value.”
About The Benchmark Company
Founded in 1988 and based in New York City, The Benchmark Company is engaged in equity research, sales and trading, investment banking, M&A and strategic advisory services. The firm has built a reputation for delivering superior client service, market access, and in-depth market and industry expertise. Benchmark is committed to its clients’ success. The firm’s team of experienced professionals work closely with clients to understand their unique needs and goals, and offers sound, unbiased guidance by drawing on the significant resources from across its nationwide service platform. Its collaborative ‘Benchmark Team’ approach is focused on partnering with clients to provide significant value and build long-term relationships. To learn more, visit www.benchmarkcompany.com.
Logiq Inc. is a U.S.-based leading global provider of e-commerce and fintech business enablement solutions. Its DataLogiq business provides a data-driven, end-to-end e-commerce marketing solution. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s Fixel technology offers simplified online marketing with critical privacy features.
In its AppLogiq business, Logiq’s platform-as-a-service, branded as CreateApp™, enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. CreateApp™ empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way.
CreateApp™ is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia. The company’s PayLogiq, branded as AtozPay™ in Indonesia, offers mobile payments, and GoLogiq, branded as AtozGo™ in Indonesia, offers hyper-local food delivery services. Connect with Logiq: Website | LinkedIn | Twitter | Facebook.
Important Cautions Regarding Forward-Looking Statements
This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This press release also contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation that relate to Logiq’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this press release should not be unduly relied upon.
These statements speak only as of the date of this press release. Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Logiq’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. In particular and without limitation, this press release contains forward‐looking statements regarding our products and services, the use and/or ongoing demand for our products and services, expectations regarding our revenue and the revenue generation potential of our products and services, our partnerships and strategic alliances, the impact of global pandemics (including COVID-19) on the demand for our products and services, industry trends, overall market growth rates, our growth strategies, the continued growth of the addressable markets for our products and solutions, our business plans and strategies, our ability to successfully locate and consummate the contemplated strategic transactions, if any, and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC) including its Annual Report on Form 10-K and any subsequent public filings, and filings made pursuant to Canadian securities legislation that are available on www.sedar.com, including under the heading “Risk Factors” in the Company’s Canadian Prospectus.
Logiq undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Logiq to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
Brent Suen, President
Media & Investor Contact
Ronald Both or Justin Lumley
CMA Investor & Media Relations
Tel (949) 432-7566