Ispire Technology Inc. Signs Exclusive Distribution Deal with Dank Pack, South Africa's Leading Supplier of Cannabis Packaging, Accessories, Supplies and Equipment

 

Company Enters South African Market Supplying Dank Pack with a Comprehensive Suite of Cannabis Vapor Products and Accessories, including Ispire ONE™

Los Angeles, May 28, 2024 – Ispire Technology Inc. ("Ispire" or the "Company") (NASDAQ: ISPR), a leader in the development and commercialization of vaping technology and precision dosing, announced an exclusive distribution deal with Dank Pack, South Africa's leading  supplier of cannabis product packaging, accessories, dispensary supplies and production and manufacturing equipment.

Under the agreement, Ispire is entering the rapidly-growing South African cannabis market by supplying Dank Pack with a host of vapor products and accessories including: Ispire ONE™ products Ispire Signature; Ispire Signature OVL; Ispire Signature NANO; Ispire Signature LVL; Ispire Signature Cartridges; and Ispire Batteries.

"We're thrilled to team up with Ispire in this exclusive distribution partnership," stated Ryan Williamson, CEO of Dank Pack. "As South Africa's foremost supplier of premium cannabis supplies, our collaboration with Ispire signifies a commitment to excellence and innovation. Together, we're poised to revolutionize the country's cannabis market, empowering businesses with world-class vaping solutions and propelling industry standards to new heights."

"Partnering with Dank Pack marks another significant stride in our mission to deliver top-tier vaping solutions globally,"  said Ispire Technology Co-Chief Executive Officer Michael Wang. "This exclusive distribution deal not only amplifies our presence in South Africa but also underscores our commitment to setting industry standards. Together with Dank Pack, we're poised to empower cannabis businesses with cutting-edge technology and elevate product quality to international standards."

For more information visit, https://dankpack.co.za/ and https://ispiretechnology.com/.

About Ispire Technology Inc.

Ispire is engaged in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products. The Company's operating subsidiaries own or license more than 200 patents received or filed globally. Ispire's tobacco products are marketed under the Aspire brand name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global distribution network. The Company's cannabis products are marketed under the Ispire brand name primarily on an original design manufacturer (ODM) basis to other cannabis vapor companies. Ispire sells its cannabis vaping hardware only in the U.S., and it recently commenced its marketing activities in Canada and Europe. For more information, visit www.ispiretechnology.com or follow Ispire on  Instagram, LinkedIn, Facebook, Twitter and YouTube.

About Dank Pack

Dank Pack is South Africa's premier supplier of premium cannabis packaging, accessories, dispensary supplies and production and manufacturing equipment. With a commitment to excellence and innovation, Dank Pack serves as a cornerstone in the cannabis industry, offering a comprehensive range of high-quality products tailored to meet the needs of businesses and consumers alike. Through strategic partnerships and a dedication to elevating industry standards, Dank Pack continues to revolutionize the market, empowering cannabis businesses with top-tier solutions and driving the sector forward into a new era of growth and prosperity. For more information, please visit https://dankpack.co.za/.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company's ability to collect its accounts receivable in a timely manner, the Company's business strategies, the ability of the Company to market to the Ispire ONE™, Ispire ONE's success if meeting its goals, the ability of its customers to derive the anticipated benefits of the Ispire ONE™ and the success of their products on the markets; the Ispire ONE™ proving to be safe, and the risk and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Cautionary Note on Forward-Looking Statements" and the additional risk described in Ispire's Annual Report on Form 10-K for the year ended June 30, 2023 and any subsequent filings which Ispire makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

IR Contacts:
For more information, kindly contact:
Investor Relations
Sherry Zheng
718.213.7386
ir@ispiretechnology.com

KCSA Strategic Communications
Phil Carlson
212.896.1233
ispire@kcsa.com

PR Contact:
Ellen Mellody
570.209.2947
EMellody@kcsa.com