The Board of Directors of Ace Innovate Asia Berhad (“AIAB”) wishes to announce that AIAB had on 15 October 2021 entered into a Joint Venture cum Shareholders Agreement (“JVSA”) with Axismas Sdn. Bhd. (“ASB”) (hereinafter referred to collectively as “Parties” and individually as “Party”) to formalise and set out the basic terms of their relationship with each other via their respective investment participation in Ace Ihsan Gold Sdn Bhd (“Proposed Joint Venture”).

Details of the announcement are set out in the attachment below.

This announcement is dated 15 October 2021.