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SMCE SMC Entertainment Enters Letter of Intent to Acquire Boutique Investment Manager, Bateau Asset Management, Providing Entry to Australian and Southeast Asian Financial Services Market
Bateau Asset Management brings to SMC Entertainment:
Foundational acquisition into International Financial Services Sector
Well-established client base of high-net-worth individuals
Four global investment funds
Experienced global client services team based in Australia and Singapore
Research and advisory capabilities complementary to SMC Entertainment Fintech platform
BOCA RATON, Fla., Sept. 09, 2024 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: SMCE), a Fintech incubator company focused on acquisition and support of commercialized services and technology (Fintech) companies, is pleased to announce that it has entered into a Letter of intent (“LOI”) to acquire a 100% interest in Australia-based Bateau Asset Management, a boutique global investment manager (“Bateau”). The acquisition will provide SMC with an initial presence in the Southeast Asia Fintech market.
Since 2016, Bateau has offered an absolute-return investment philosophy delivered by a multi-manager approach to investing. Services include investment research and education with the objective of providing clients with rigorously constructed absolute return portfolios that they can understand.
Bateau serves over one hundred and fifty clients, all high-net-worth individuals. It maintains an experienced advisory team based in Perth, Australia and Singapore which is supported by a robust compliance and corporate governance team. Currently Bateau manages $20 million AUD$ in assets under management (“AUM”). Bateau is in discussions with multiple potential financial service businesses to increase their account base and money under management.
Under the terms of the Agreement, SMC will acquire 100% of Bateau in an all-stock transaction. SMC will issue shares of its Series C Preferred stock to Bateau’s shareholders valued at US$14 million. Barring any subsequent delays outside of the parties’ control, SMC expects to close the Bateau transaction in September 2024. SMC will proceed to a definitive agreement and make the agreement details available in a Form 8-K to be filed with U.S. Securities and Exchange Commission on www.sec.gov.
“I am extremely excited to announce this LOI for our first international acquisition. Bateau provides SMC with a tremendous opportunity to initially position our Chaintrade.AI platform in one of the world’s most dynamic markets, “stated Erik Blum CEO of SMC Entertainment. “This is the start of our international financial services division. Once closed we will use the infrastructure from Bateau to deploy Chaintrade.AI internationally. We look forward to deploying our AI model to the increasingly complex capital needs of clients around the world. Bateau is a perfect example of an accretive and professionally managed acquisition that is scalable and auditable. We believe we can use our foundational AI to help the advisory team grow the AUM from its current levels to over $100 AUM within the next 2 years. We look forward to executing on plan and delivering long-term value for our shareholders.”
Stuart Haley, managing director at Bateau, commented: “SMC offers Bateau an optimal partnership for growing our business and investing in complementary AI/ML strategies that would leverage our platform. We look forward to collaborating closely with our new partners, drawing on our new collective strengths, as we expand together into new strategies and complementary products across geographies.”
About Bateau Asset Management
Bateau Asset Management is a boutique investment manager founded in 2016 based in Australia with offices in Singapore. The company follows an absolute-return investment philosophy and a multi-manager approach to investing. To learn more, go to www.bateauam.com.au.
About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.
About ChainTrade LTD
ChainTrade LTD, is a UK Registered Entity and is a joint Venture between Plato Data Intelligence and Redmatter.Capital., a registered financial services company, with its subsidiary granted a securities trading license by the Capital Market Authority of Montenegro. ChainTrade's AI research tools will enable investors to analyze thousands of data points including live price data, performance, investor sentiment, fair value, and risk factors simultaneously. These features enable the ChainTrade AI Research tool to provide timely insights to investors, which in turn will allow them to make informed decisions on optimizing their portfolio performance. Chaintrade.AI
About Fyniti Global Equities EBT, Inc.
Fyniti Global Equities EBT, Inc., a wholly owned subsidiary of SMC, is Fintech platform developer founded by veteran Wall Street technologists and investment bankers who worked for Goldman Sachs, JP Morgan Chase, Bank of America (Merrill Lynch) and Citigroup. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT Technology which combine to provide AI driven. For more information, click the following links: (www.fyniti.com, www.fynitiiq.com).
Press Release Contact:
Erik Blum
Chief Executive Officer
SMC Entertainment, Inc.
360-820-5973
Safe Harbor Statement
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.
https://www.globenewswire.com/newsroom/ti?nf=OTIyNzIzMCM2NDY4OTQyIzUwMDEyNjMwMA==
https://ml.globenewswire.com/media/ZGRkOGNjMmUtNjEzOS00OTU4LWEyNjItOTQ1OTEzY2I0OTQxLTUwMDEyNjMwMA==/tiny/SMC-Entertainment-Inc-.png
Source: SMC Entertainment Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/SMCE/news/story?e&id=2975112
SMC Entertainment Enters Letter of Intent to Acquire Boutique Investment Manager, Bateau Asset Management, Providing Entry to Australian and Southeast Asian Financial Services Market
Bateau Asset Management brings to SMC Entertainment:
Foundational acquisition into International Financial Services Sector
Well-established client base of high-net-worth individuals
Four global investment funds
Experienced global client services team based in Australia and Singapore
Research and advisory capabilities complementary to SMC Entertainment Fintech platform
BOCA RATON, Fla., Sept. 09, 2024 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: SMCE), a Fintech incubator company focused on acquisition and support of commercialized services and technology (Fintech) companies, is pleased to announce that it has entered into a Letter of intent (“LOI”) to acquire a 100% interest in Australia-based Bateau Asset Management, a boutique global investment manager (“Bateau”). The acquisition will provide SMC with an initial presence in the Southeast Asia Fintech market.
Since 2016, Bateau has offered an absolute-return investment philosophy delivered by a multi-manager approach to investing. Services include investment research and education with the objective of providing clients with rigorously constructed absolute return portfolios that they can understand.
Bateau serves over one hundred and fifty clients, all high-net-worth individuals. It maintains an experienced advisory team based in Perth, Australia and Singapore which is supported by a robust compliance and corporate governance team. Currently Bateau manages $20 million AUD$ in assets under management (“AUM”). Bateau is in discussions with multiple potential financial service businesses to increase their account base and money under management.
Under the terms of the Agreement, SMC will acquire 100% of Bateau in an all-stock transaction. SMC will issue shares of its Series C Preferred stock to Bateau’s shareholders valued at US$14 million. Barring any subsequent delays outside of the parties’ control, SMC expects to close the Bateau transaction in September 2024. SMC will proceed to a definitive agreement and make the agreement details available in a Form 8-K to be filed with U.S. Securities and Exchange Commission on www.sec.gov.
“I am extremely excited to announce this LOI for our first international acquisition. Bateau provides SMC with a tremendous opportunity to initially position our Chaintrade.AI platform in one of the world’s most dynamic markets, “stated Erik Blum CEO of SMC Entertainment. “This is the start of our international financial services division. Once closed we will use the infrastructure from Bateau to deploy Chaintrade.AI internationally. We look forward to deploying our AI model to the increasingly complex capital needs of clients around the world. Bateau is a perfect example of an accretive and professionally managed acquisition that is scalable and auditable. We believe we can use our foundational AI to help the advisory team grow the AUM from its current levels to over $100 AUM within the next 2 years. We look forward to executing on plan and delivering long-term value for our shareholders.”
Stuart Haley, managing director at Bateau, commented: “SMC offers Bateau an optimal partnership for growing our business and investing in complementary AI/ML strategies that would leverage our platform. We look forward to collaborating closely with our new partners, drawing on our new collective strengths, as we expand together into new strategies and complementary products across geographies.”
About Bateau Asset Management
Bateau Asset Management is a boutique investment manager founded in 2016 based in Australia with offices in Singapore. The company follows an absolute-return investment philosophy and a multi-manager approach to investing. To learn more, go to www.bateauam.com.au.
About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.
About ChainTrade LTD
ChainTrade LTD, is a UK Registered Entity and is a joint Venture between Plato Data Intelligence and Redmatter.Capital., a registered financial services company, with its subsidiary granted a securities trading license by the Capital Market Authority of Montenegro. ChainTrade's AI research tools will enable investors to analyze thousands of data points including live price data, performance, investor sentiment, fair value, and risk factors simultaneously. These features enable the ChainTrade AI Research tool to provide timely insights to investors, which in turn will allow them to make informed decisions on optimizing their portfolio performance. Chaintrade.AI
About Fyniti Global Equities EBT, Inc.
Fyniti Global Equities EBT, Inc., a wholly owned subsidiary of SMC, is Fintech platform developer founded by veteran Wall Street technologists and investment bankers who worked for Goldman Sachs, JP Morgan Chase, Bank of America (Merrill Lynch) and Citigroup. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT Technology which combine to provide AI driven. For more information, click the following links: (www.fyniti.com, www.fynitiiq.com).
Press Release Contact:
Erik Blum
Chief Executive Officer
SMC Entertainment, Inc.
360-820-5973
Safe Harbor Statement
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.
https://www.globenewswire.com/newsroom/ti?nf=OTIyNzIzMCM2NDY4OTQyIzUwMDEyNjMwMA==
https://ml.globenewswire.com/media/ZGRkOGNjMmUtNjEzOS00OTU4LWEyNjItOTQ1OTEzY2I0OTQxLTUwMDEyNjMwMA==/tiny/SMC-Entertainment-Inc-.png
Source: SMC Entertainment Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/SMCE/news/story?e&id=2975112
.0032 still very much in my target sights! $KYNC
Don't loose the faith JDP! Volume scout day was 8/8, so expect bigger move 2-6, sometimes up to 8 weeks for the Volume Army to arrive! We're only 4.5 weeks in!
We got a good one here carlson! I like NBRI better than the other gold play (starts with H)
Thanks, and yeah, so I ordered grub hub! Lol!
NBRI chart looks to be in a position to spike this week hard! I think we can see 10's this week!
Volume B4 Price! My 1's lookin Great!!!
Stochastics are way oversold here, expect a breakout over 5's soon!
KEY REVERSAL day Thursday, says 5's are the low, and up from here all this week!
Stochastics buy signal and still rising 50 day MA has me holding here!
Reversal to .0048 drawing near imo! 22 prob the low as is often is in OTC, GLTA
Stochastics buy signal Friday, but barely, pps above the rising 50 day MA at .00075 is bullish, however the 257Mill shares dilution Friday, and the H&S neckline strong resistance is at 10's, plus everybody and their Grandma is already bought in heavy here says to me target 5's!!!
ASII down big on news! Told everyone news is a killer for this ticker! Hit 6's! Target still 5's, however the stochastics did slightly cross today, but on a big red bar, I suppose you could call it divergence....still too many high profile traders own way too many shares imo
There it is!!! ASII .00075! as I called!!! But no interest for me, ASII is going to 5's!!! .0005!!!!
ASII Dilution! 257Mill shares today! 10's are now resistance, target 5's!!! Told ya!
NBRI KEY REVERSAL ALERT! 5's will no longer be seen there imo! And poor ASII, the 10 ceiling is gonna be tough to break, only 2mill shares traded at 10's, only 2mill were allowed out at 10's! I have never seen a more overloaded boat load of shares owned by all the high profile ihub traders...now there's no new buyers to take prices back up, even when it's at a critical chart support at 8's, the rising 50 day MA which is normally my buy in point, but I have no interest in ASII with too many already bought in, GL though!
INCTD Mike Lindell, my pillow CEO has merged FrankSpeech with INCTD
Last week, FrankSpeech announced it was merging with the publicly-traded media holding company InCapta in a reverse stock split. That will make FrankSpeech a publicly traded entity on the OTC market, rather than the Nasdaq or New York Stock Exchange.
https://www.fastcompany.com/91183437/mypillow-ceo-mike-lindell-has-taken-his-social-media-company-public-that-might-be-a-bad-idea
ASII still no love, even at support at .00075, can't even trade 10's, which is now resistance!!!! Target 5's!!!! Told everyone!!!
SMCE KEY REVERSAL ALERT!!! 15 lod will not be breached now!
ASII New lower low at 8's today! 1/2 tick from my .00075 target, told everyone! Another OTC 50% haircut from 16's, OUCH!!!! New target is now 5's!!!
ASII Down Again! Tomorrow will hit my .00075 target, and normally that's a good place to buy, right at the rising 50 day MA, however with ASII, there are way too many high profile traders with too many shares, so now there's no buying power left, only selling pressure....I think .00075 breaks and my new target is 5's folks!!!
Added 2mill AAPJ 3's today! Blue Sky Breakout, now retesting!
ASII Chart momentum stochastics indicator gave momentum sell signal last Wednesday at 14's!, it then plunged to .00085 and does NOT look good to me, Too many big traders own it and now under water!
Agreed, I can't believe peeps are buying her con job!
Hilarious! You put a visit to planned parenthood as #1!!! Fuuuuck! That sure is a Presidential event!, all politicians should visit a PP location, it is important to preserve a woman's right to murder her baby right?....what did the baby do to deserve capital punishment???
And for #2 You used an outcome of a vote as her #2 accomplishment? That's a vote result, NOT an accomplishment!
#3 she wants to ban all guns and violate our rights and defund the Police putting us all at risk of the criminals SHE let in with open borders! Now she wants to enforce the border laws? After criminals are already here raping and killing USA citizens????What a true POS Kamala really is!!!!!!
#6 I still don't even know what Juneteenth day is?
#9 Climate change is a hoax, climates fluctuate, in the 70's the left was concerned about global cooling, it's a good way to waste our taxpayer money though, Kamala seems intent on that, offering $25K for 1st time home buyers, so do I get $25k for buying my first home back in 2001???
K, Did anyone ever find a list of Kamala's accomplishments as VP?...Crickets, again!!!! Lol!
Proof the Courts SUCK! Why didn't she scream they asked? She said cuz "She's not a screamer"????????????? And this happened in 1996? and she waited till 2023 to come forward? She Never called Police back in 1996 when she said this happened???? Give me a break!
Nice post oyster!!! Completely blank, like all the dems heads!!! Lol!!!!
Go read it again dimwit!
Thanks for proving my point! He never raped her, and how stupid do you have to be to believe a woman was raped way back in 1996, but only came forward with accusation in 2023???? Duh! Double Duh!!! It loses ALL CREDIBILITY!!! If she was raped in 1996, why didn't she immediately call Police???
Jared Polis is horrible governor, he's a dumb ass gay politician! I live 30 minutes from Aurora, and I have 28 guitrars at home, I am a target for smash and grab democrats...I am preparing weapons for self defense!
And when Trump wins you can go riot in the streets and break and vandalize shit, burn a flag, tear down another historic monument, and push old ladies onto the subway tracks! Way to go dimwit!!!
Great post! I was gonna try and fact check her, now we see what she actually said in 2020, and SHE never said she was in favor of fracking, she only said Joe Biden will not ban fracking...so she lied to us AGAIN!!! SMH
I kissed a girl at the 1979 Tom Petty concert at Pine Knob in Michigan when I was 15, I didn't ask her permission, I just went for it, good thing she kissed me back! Today they may lock U up and call it sexual harassment, and make you register as a sex offender! SMH
And there's this fine outstanding democrat citizen..is that a gun in his right hand?
Neither is Trump, where did you get this new shit from? We've been over the Trump statements that you dems take out of context, You must be talking Tim Awalz, who lied and stole the valor from our troops who actually did carry weapons into war....Walz says it was a grammar error, yeah right? What a disgrace to our troops who actually do fight for our country
Ur the one making up childish shit like this statement of yours, You ran out of facts, so now you reduce yourself to a child
Here and there, I post on the higher volume tickers