Astika Holdings, Inc. Announces $60 Million Acquisition of Chinese Infrastructure Conglomerate

Astika Holdings, Inc. (OTC Pinks: ASKH) today announces it has entered into a binding reorganization agreement with China Industrial Waste Management Holding Co Ltd. (CIWM), a privately-held Hong Kong company, wherein CIWM shall become a wholly-owned subsidiary of Astika. The $60 million all-stock deal was first announced in August after a letter of intent was executed.

Under the reorganization agreement, the parent company, Astika, shall appoint six new directors to its board, all from CIWM, giving CIWM management majority control over the combined companies.

CIWM is a conglomerate with ongoing operations in the Chinese mainland focusing on mining and waste remediation, both of which constitute critical, high-profile infrastructure sectors whose priority has long been emphasized by the Chinese. Following the acquisition, the parties intend to conduct a major global capital raise project to fund expanded operations.

“In August of this year we announced our joint letter of intent to combine the two companies. The closing of the acquisition through this reorganization agreement I hope demonstrates to the investment community our commitment to growth and our determination to follow through on all announced projects,” commented Astika Chairman of the Board of Directors Funan Deng. “As I remarked in August, the operations being conducted by CIWM are extremely important for both China and the rest of the world. To that end, we handled the acquisition carefully and now with the reorganization agreement closed, we are very excited about conducting an investment round to properly capitalize existing projects as well as fund additional projects to manage the needs of a rapidly growing world economy.”

This new acquisition is only the latest in a steady stream of M&A activity conducted by Astika. Other recent acquisitions and other business activities include:

As of March 20, 2023, Astika acquired 100% of the ownership interest in two entities: a) Nantong Pinlina International Trade Company, a Foreign Invested Enterprise incorporated under the laws of Nantong, China; and b) Gaoxing LLC, a California limited liability company organized as a Sino-US joint venture registered with the Chinese Consulate in Los Angeles, California. These two entities together own 100% of the Chinese entity Jiangsu Ziyang Holiday Bedroom Articles Co. Ltd. (“JSZY”), a home goods retailer with a substantial operating history and tens of millions of dollars in top-line revenues annually (almost $20 million in net revenue during 2022 alone).

Forward Looking Statement

Certain statements that we make may constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. The statements contained herein may contain certain forward-looking statements relating to ASKH that are based on the beliefs of ASKH's management as well as assumptions made by and information currently available to ASKH's management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to the ASKH's business prospects, future developments, trends and conditions in the industry and geographical markets in which ASKH operates, its strategies, plans, objectives and goals, its ability to control costs, statements relating to prices, volumes, operations, margins, overall market trends, risk management and exchange rates.

About Astika Holdings Inc.: Astika Holdings, Inc. is a Florida corporation and the parent company of JSZY, a Chinese home goods retailer. Management is preparing to further expand the Company through a variety of strategic acquisitions in the textile, service, and/or industrial sectors to complement and capture the next wave of growth companies from the US, Asia and New Zealand.

For more information, please contact:

Ralph Willmott

Director,

Astika Holdings, Inc.

rtw4eastasia@gmail.com