NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — GoLogiq, Inc. (OTC:GOLQ), a U.S.-based global provider of fintech and consumer data analytics, has entered into a non-binding letter of intent to acquire Sydney-based Applied Positive Psychology Learning Institute (APPLI).
APPLI is a global organization that helps people and organizations make positive and sustainable change in mental health and wellbeing through a diverse range of products and services. These include online and blended learning courses, strategic consulting, research and development services, and bespoke wellbeing programs for many industries, including the financial sector.
APPLI’s major corporate clients include The Reserve Bank of Australia, The International Bank of Settlements, Price Waterhouse Coopers, and Nextgen Financial Group. APPLI is led by a world-recognized team of mental health and educational professionals, including its founder and CEO, Paula Robinson, Ph.D.
“Businesses around the world are increasingly recognizing the strong correlation between employee health and wellbeing and greater productivity, higher sales, and quality customer engagement,” noted Brent Suen, interim CEO of GoLogiq. “APPLI’s mission and values also reflects our own at GoLogiq of making sure our people receive the support they need to become the best version of themselves.”
“Moreover, APPLI is highly complementary with our existing business and other pending acquisitions that are focused on the financial sector and the New Digital Economy,” added Suen. “Mental wellness programs and testing have become mandatory for businesses in Australia and increasingly in other parts of the world. With APPLI integrated into our fintech ecosystem, we anticipate significant cross selling and value-add across the board.”
Under the terms of letter of intent, GoLogiq will acquire 100% of APPLI in an all-stock transaction. GoLogiq would issue common shares to APPLI shareholders valued at US$6 million. The transaction is expected to close in the second quarter of 2023.
While GoLogiq expects the transaction to be completed as anticipated, a definitive agreement has yet to be signed and no assurances can be given it will be executed or the transaction will be completed as described.
When such a definitive agreement would be mutually signed, the details would be made available in a Form 8-K to be filed with U.S. Securities and Exchange Commission on www.sec.gov as well as on the investor section of GoLogiq’s website.
About APPLI
APPLI is committed to sharing and collaborating with inspiring leaders from across the globe. It brings together highly respected business leaders, industry experts, scientists, practitioners, innovative thinkers and passionate educators to revolutionise Positive Psychology application. The company believes that wellbeing is for everyone and it wants to help build communities in which individuals have the skills and knowledge they need to thrive. The company’s approach is multi-dimensional: it offers education and training, consulting and research and development across the lifespan and across all sectors within society.
For more information, visit www.appli.edu.au and www.mentalfitnesshub.com.
About GoLogiq
GoLogiq Inc. is a US-based global provider of fintech and mobile solutions for digital transformation and consumer data analytics. Its software platforms are comprised of CreateApp, a mobile app development and publishing platform for small-to-medium sized businesses; AtozGo™, a ‘hyper-local’ app-based delivery platform; AtozPay™, an eWallet for mobile top-up, e-commerce purchases, bill payment and microfinance; and Radix™, a Big Data analytics platform.
