Starfleet Innotech Announces Agreement to Acquire 60% Majority Stake in H.A. Duldulao & Co.

New York, USA, 02 July 2024— Starfleet Innotech (OTC: SFIO), a global investment holding company, is excited to announce the signing of a definitive agreement to acquire a 60% majority stake in H.A. Duldulao & Co. (HADCI), a sustainable real estate developer in the Philippines. This strategic acquisition is a pivotal milestone in Starfleet Innotech's growth and expansion strategy. H.A. Duldulao & Co. is currently developing the Heroes’ Lane project (https://hadci.com/heroes-lane/) located in Gamu, Isabela, which has a potential value of $35 million, with more than 46% of the total 668 units already reserved to date. The said project is proposed to be the first-ever green certified project in Northern Philippines under the Excellence in Design for Greater Efficiencies (EDGE) of the World Bank – IFC.

According to the agreement, Starfleet Innotech will acquire a 60% stake in H.A. Duldulao & Co. which currently has a valuation of $20 million. The initial 30% stake will be purchased for $6 million, funded through the issuance of 6 million preferred B shares, convertible into 60 million common shares at $0.10 per share. The remaining 30% stake will be acquired upon receipt of the funding investment. The transaction is expected to close by the end of July 2024, subject to customary closing conditions and regulatory approvals.

This acquisition underscores Starfleet Innotech's commitment to strategic growth and expanding its presence in key markets.

**Strategic Benefits of the Acquisition**

Enhanced Market Position: The acquisition will strengthen Starfleet Innotech's presence in the affordable housing segment in the Philippines, allowing the combined entity to better serve its customers and capture new opportunities.

Synergies and Growth Opportunities: The integration of HADCI’s capabilities with Starfleet Innotech's existing operations is expected to generate significant synergies, including more sustainable and smart housing solutions as HADCI gears ahead for its envisioned IPO in the near future.

Expanded Product Portfolio: Starfleet Innotech will benefit from HADCI's innovative product lines and strong customer relationships, which will complement and enhance Starfleet Innotech's current offerings.

Experienced Management Team: HADCI’s experienced leadership team will continue to operate the business, ensuring a smooth transition and continued success.

"H.A. Duldulao & Co. has a strong track record on innovation and customer satisfaction in the affordable housing segment," said Jeths Lacson, CEO of Starfleet Innotech. "This acquisition is a perfect fit with our strategic vision and growth objectives. We are excited to welcome HADCI’s talented team to the Starfleet Innotech family."

"Our entire team is thrilled to join forces with Starfleet Innotech as it is the most opportune time to expand our project portfolio and reach higher grounds with the aim of IPO listing in the Philippines. Together, we will be able to leverage our combined strengths to deliver even greater value to our customers and stakeholders," said Henson Duldulao, Founder & CEO of H.A. Duldulao & Co.

About Starfleet Innotech, Inc.

Starfleet Innotech, Inc. (OTC: SFIO) is a global investment holding company focused on innovation by identifying disruptive collaborations both within and outside its three key industries which include: Food and Beverage (F&B), Real Estate, and Technology. With a strong presence across New Zealand, Australia, Malaysia, the United Arab Emirates, the United States, and the Philippines, Starfleet strategically invests in potential high-growth businesses, building synergies across its diverse portfolio to provide maximum stockholder value. Guided by tradition, driven by innovation, and enabled by collaboration—Starfleet is focusing its resources on a growth trajectory to build a global business ecosystem, as reflected by its diverse industry.

About H.A. Duldulao & Co, Inc.

H.A. Duldulao & Co., Inc. is real estate developer concentrated mainly in the northern part of the Philippines. From a boutique developer, it has grown over the years to become a formidable player in its class for delivering high quality building concepts at affordable prices. Potentially, it will be the first-ever certified green and sustainable developer in it the area and of the very few in the country as it pioneers innovative, resilient and smart housing products. Guided by its vision to be the affordable housing developer of choice in the region, it shall remain true to its values of enriching lives by building sustainable communities for the years to come as it targets close to a dozen fully certified housing developments on its round-up to its potential IPO listing in the near term.

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