CONNEXA RECEIVES NASDAQ APPROVAL TO ACQUIRE YUANYU ENTERPRISE MANAGEMENT

Core Viewpoint - Connexa Sports Technologies Inc. has received Nasdaq approval for continued listing following the acquisition of an additional 50% stake in Yuanyu Enterprise Management Limited, increasing total ownership to 70% [2][4][8] Group 1: Acquisition Details - The acquisition of the additional 50% stake in Yuanyu Enterprise Management Limited (YYEM) has been approved by Connexa's shareholders and will lead to a change of control, new directors, and a spin-off of the Slinger Bag business [2][4] - The trading under the ticker symbol YYAI will commence on November 22, 2024 [3][4] Group 2: Strategic Importance - The acquisition is seen as a strategic move to enhance shareholder value, with YYEM having a strong balance sheet and promising growth prospects [4][5] - YYEM operates in the emerging Love and Marriage sector, owning significant proprietary intellectual property and technologies that support its business model [6][10] Group 3: Technological Edge - YYEM possesses six technologies related to the metaverse and five AI matchmaking patents, which are expected to enhance future revenue growth potential [6] - The AI technology developed by YYEM can integrate with existing Big Data models, providing significant business value through effective matchmaking services [6] Group 4: Market Position and Growth - YYEM has already demonstrated its business model's effectiveness, with a licensee partner integrating its technology across a growing network of retail stores [7] - The global growth opportunity in the Love and Marriage sector is highlighted as a key factor for Connexa's future success [5][8]