WPFH announces the acquisition of the KPOP 1004 distribution chain
LOS ANGELES, CA, December 9, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – World Poker Fund Holdings, Inc. (OTC PINK: WPFH), today announces that it has signed a definitive agreement to acquire Kimco Industries Inc., owner and operator of the KPOP 1004 distribution chain, a K-POP and a K- Store specializing in beauty.
KPOP 1004 stores are currently located in the Ontario Mills Mall in Ontario, California; Westfield Valencia downtown in Valencia, California; and the Premium Outlets in Las Vegas, NV. Over the next 24 months, Kimco plans to open stores in four more markets, including Houston, Seattle, Newark and Miami.
As part of the acquisition agreement, WPFH will change its name to KPOP 1004, perform audits and file a registration statement on Form 10 with the SEC for the increase and cross-listing of the ‘OTCQB and KOSDAQ (the Korean Stock Exchange).
KPOP, The Korean Wave (Hallyu) is the expansion of Korean culture, arts and media across the world. In 2019, the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency estimated the total sales of South Korea’s arts and culture industry for 2018 at US $ 5.31 billion. KPOP music continues to grow rapidly in the United States, having sold over 40 million physical albums in 2020 alone. The 9 largest KPOP groups generated more than $ 50 million on tour last year in a reduced pandemic period.
The Korean wave isn’t all about the music either; Netflix has pledged to spend $ 500 million to develop more Korean content this year alone. Additionally, the K-Beauty market accounts for $ 10.3 billion in revenue and is expected to reach $ 31.6 billion by 2029.
About World Poker Fund Holdings, Inc.
World Poker Fund Holdings, Inc. is a leading developer and operator of online technologies, gaming platforms and brands. The Company does not offer any gambling or gambling opportunities for cash in the United States and is not licensed as a gambling operator in the United States or any other jurisdiction.
To learn more about World Poker Fund Holdings (WPFH) and its upcoming events, please visit www.worldpokerfund.com.
Safe Harbor Declaration
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding future plans, objectives, goals, strategies, events or performance, and assumptions underlying statements and other statements that are other than statements of historical fact. These statements are subject to uncertainties and risks, including, but not limited to, demand for and acceptance of products and services, technological changes, economic conditions, the impact of competition on pricing, government regulations and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.
Investor Relations Contact
VP Investor Relations