SMC Entertainment Executes Acquisition Agreement to Acquire Boutique Investment Manager, Bateau Asset Management

BOCA RATON, Fla., Nov 6, 2024 - ( JCN Newswire ) - SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: SMCE), a Fintech incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce that it has executed an Acquisition Agreement to acquire a 100% interest in Australia-based Bateau Asset Management, a boutique investment manager ("Bateau"). The acquisition will provide SMC with an initial presence in the Southeast Asia Fintech market.

Since 2016, Bateau has offered an absolute-return investment philosophy delivered by a "multi-manager approach" to investing. Services include investment research and

education with the objective of providing clients with rigorously constructed absolute return portfolios that they can understand.

As further detailed in the Company's Current Report on Form 8-K filed with the SEC, under the terms of the executed Acquisition Agreement, SMC will acquire 100% of Bateau in exchange for the issuance of 14,000,000 shares of Series C Preferred Stock and $2,000,000 in convertible promissory notes.

About Bateau Asset Management

Bateau Asset Management is a boutique investment manager founded in 2016 based in Australia with offices in Singapore. Bateau follows an absolute-return investment philosophy and a multi-manager approach to investing.

To learn more, go to https://www.bateauam.com.au/.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Erik Blum
Chief Executive Officer
SMC Entertainment, Inc.
360-820-5973

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