Advasa Shareholder Mr. Asamitsu Kosugi Expresses Intention To Surrender To The Company His ~20% Stake For No Consideration

Advasa Holdings, Inc. (NASDAQ:ADBT) ("ADVASA" or the "Company"), a fintech payment holding company delivering Earned Wage Access ("EWA") and financial infrastructure solutions, today announced that Mr. Asamitsu Kosugi, the Company’s largest stockholder, has expressed his intention to surrender to the Company, for no consideration, 97,413,140 shares of the Company’s common stock, representing approximately 20% of the Company’s total outstanding common stock.

Proposed Forfeiture

Under the transaction, Mr. Asamitsu Kosugi, the Company’s largest stockholder, has advised The Company that he will surrender the shares without receiving cash, securities or other consideration from the Company. Following completion of the surrender and cancellation, the surrendered shares will cease to be outstanding. 97,413,140 shares will be surrendered and cancelled. The cancellation will reduce the Company’s outstanding common stock by approximately 20%, assuming no other changes in the number of outstanding shares.

Conditions for Completion

The proposed forfeiture and cancellation have not been completed. Completion remains subject to finalization of the required documentation, any necessary corporate approvals and completion of the applicable transfer agent procedures. There can be no assurance as to the timing or completion of the proposed transaction.