LOS ANGELES, CA – (NewMediaWire) – December 9, 2021 – World
Poker Fund Holdings, Inc. (OTC PINK: WPFH),
announces today that it has signed a definitive agreement to acquire Kimco
Industries Inc., the owner and operator of the retail chain KPOP 1004, a K-POP
and K-Beauty specialty store.
KPOP 1004 stores are currently
located in the Ontario Mills Shopping Center of Ontario, CA; Westfield Valencia
Town Center of Valencia, CA; and the Premium Outlets of Las Vegas, NV.
Over the next 24 months, Kimco intends to open up stores in four more markets
including Houston, Seattle, Newark, and Miami.
As part of the acquisition
agreement, WPFH will be changing its name to KPOP 1004, complete audits, and
file a Form 10 registration statement with the SEC in preparation for OTCQB and
KOSDAQ (the Korean Stock Exchange) up-listing and cross-listing.
KPOP, the Korean Wave (Hallyu)
is the expansion of Korean culture, arts and media throughout the world. In
2019 the Ministry of Culture, Sports and Tourism and Korea Creative Content
Agency estimated the total South Korean cultural and art industry sales for
2018 at $5.31 Billion US Dollars. KPOP music continues to grow rapidly in the
US, having sold over 40 Million physical albums in 2020 alone. The top 9
largest KPOP groups generated over $50 Million dollars from touring last year
in a pandemic reduced time.
The Korean Wave is not just
about music either; Netflix has committed to spending $500 Million to develop
more Korean content this year alone. Additionally, The K-Beauty market accounts
for $10.3 Billion in revenue and is estimated to grow to $31.6 Billion by 2029.
About World Poker Fund
World Poker Fund Holdings, Inc.
is a leading developer and operator of on-line technology, gaming platforms and
brands. The company does not offer any games or gaming opportunities for cash
in the United States and is not licensed as a gaming 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 Statement
This news release contains
forward-looking statements as defined by the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements that are other than statements of historical
facts. These statements are subject to uncertainties and risks including, but
not limited to, product and service demand and acceptance, changes in
technology, economic conditions, the impact of competition pricing, government
regulation, 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 the forward-looking statements. In addition, the Company disclaims
any obligation to update any forward-looking statements to reflect events or
circumstances after the date hereof.
Investor Relations Contact
VP Investor Relations
The post WPFH Announces Acquisition of KPOP 1004 Retail Chain first appeared on Smallcaps Daily.