NewGen has deployed US$1 million to execute the purchase of its carefully planned digital asset portfolio
The company aims to take advantage of positive trends in the crypto landscape by executing a well-crafted strategic investment plan
BANGKOK, Dec. 19, 2024 (GLOBE NEWSWIRE) -- NewGenIvf Group Limited (NASDAQ: NIVF) ("NewGen” or the "Company”) today announced that it has engaged OSL Digital Securities ("OSL”), a leading regulated digital asset platform in Hong Kong, as part of NewGen's intent to begin investing in the digital assets space. Following the engagement, NewGen has transferred funds in the amount of US$1 million to its account. These funds will serve as a pilot tranche to carry out the Company's mandate of establishing its digital asset portfolio.
NewGen's portfolio will be comprised of a variety of digital assets designed to effectively hedge risks while taking advantage of recent positive trends in the cryptocurrency environment. The majority of the portfolio will consist of a combination of two large-cap cryptocurrencies, Bitcoin and Ethereum, which together will account for 55% of the portfolio. Another 10% of the allocation will be devoted to the stablecoin Tether, with the remaining 35% spread across several mid- and small-cap cryptocurrencies which, while more volatile, hold potential for a greater return on investment.
Mr. Siu Wing Fung Alfred, Founder, Chairman, and CEO of NewGen, commented, "We are excited to announce the pursuit of this new strategic approach as we seek to provide value to our shareholders and bolster the financial stability of our company. The cryptocurrency market has evolved significantly over the past several years, with increased institutional adoption and growing recognition from governmental bodies worldwide demonstrating its maturation as an asset class. Our strategic US$1 million investment represents a measured entry into digital assets, carefully structured across established cryptocurrencies and stablecoins to optimize potential returns while managing risk exposure. This initiative aligns with our commitment to diversifying revenue streams through well-researched opportunities, and we have developed a comprehensive framework to guide our approach to digital asset investment. We chose OSL as the custodian of the project based on their ability to offer compliant and secure options for digital assets management, and we are confident their involvement will bolster the stability and security of our plan as we pursue this new strategy.”
About NewGen
NewGen is a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments. With a mission to aid couples and individuals in building families regardless of fertility challenges, NewGen has dedicated itself to creating increased access to infertility treatment and providing comprehensive fertility services for its customers. NewGen's management team collectively has over a decade of experience in the fertility industry. NewGen's clinics are located in Thailand, Cambodia, and Kyrgyzstan, and present a full suite of services for its patients, including comprehensive infertility and assisted reproductive technology treatments, egg and sperm donation, and surrogacy, in the appropriate jurisdictions, respectively. To learn more, visit www.newgenivf.com. The information contained on, or accessible through, NewGen's website is not incorporated by reference into this press release, and you should not consider it a part of this press release.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the "safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe,” "project,” "expect,” "anticipate,” "estimate,” "intend,” "strategy,” "future,” "opportunity,” "plan,” "may,” "should,” "will,” "would,” "will be,” "will continue,” "will likely result,” and similar expressions. Without limiting the generality of the foregoing, the forward-looking statements in this press release include descriptions of the Company's future commercial operations, business strategy, and financial condition. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, such as the Company's ability to implement its business plans, identify and realize additional opportunities, meet or exceed its financial projections, and changes in the regulatory or competitive environment in which the Company operates. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company's annual report on Form 20-F and other documents filed or to be filed by the Company with the SEC from time to time, which could cause actual events and results to differ materially from those contained in the forward-looking statements. Copies of these documents are available on the SEC's website, www.sec.gov. All information provided herein is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
ICR, LLC
Robin Yang
Phone: +1 (212) 537-4406
Email: [email protected]
