NewGen Engages OSL to Execute Strategic Investment in Digital Assets
December 19 2024 - 6:00AM
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, LLCRobin YangPhone: +1 (212)
537-4406Email: Newgenivf.IR@icrinc.com
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