KNOREX Pursues Strategic Carve-Out Of AscendX Media Technologies Subsidiary; AscendX Would Be Separated And Independently Capitalized With Investment From External Investors, And KNOREX Expects To Retain A Minority Equity Interest In AscendX

KNOREX Ltd. is pursuing a strategic carve-out of its wholly owned subsidiary, AscendX Media Technologies, which focuses on publisher monetization. The proposed structure aims to separate AscendX and allow it to be independently capitalized through external investments, while KNOREX plans to retain a minority equity interest. This move is expected to relieve KNOREX from funding AscendX's future growth, enabling the company to focus on its KNOREX XPO™ platform and other strategic initiatives.