Intercont (Cayman) Enters Into MOU To Acquire Less Than 50% Minority Stake Of Starks Network; Terms Not Disclosed

Intercont (Cayman) Limited (NASDAQ:NCT)("NCT" or "the Group"), a global carbon-neutral shipping company, announced that, it has entered into a Memorandum of Understanding (MOU) to acquire a less than 50% minority stake of Starks Network Ltd ("Starks Network" or "the Company") , a leading Singapore-based Web3 technology service provider and will co-develop the Project zCloak Network ("zCloak"). This strategic agreement marks a significant milestone, positioning NCT and zCloak to jointly advance the integration of maritime services and blockchain technology.

NCT's planned acquisition of zCloak represents a decisive step in its long-term strategy to expand into the digitization of real-world assets while reinforcing its leadership in global shipping services. The company will explore diversified pathways for tokenizing real-world assets across industries, leveraging zCloak's technical infrastructure to deliver standardized, compliant, and scale up on-chain asset solutions. Together, both the NCT and Starks Network aim to accelerate enterprise adoption of Web3 technologies worldwide.