HWH International together with Alset Capital Acquisition Corp. Announce Closing of Business Combination

• The common stock of the combined company is expected to commence trading on The Nasdaq Global Market under ticker symbol “HWH” on January 9, 2024.

Bethesda, MD, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Alset Capital Acquisition Corp. (“Alset”) (Nasdaq: “ACAX” for common stock and “ACAXR” for rights), today announced the completion of its previously announced business combination (the “Business Combination”), with HWH International Inc. (“HWH”), a purpose-driven lifestyle company encompassing differentiated offerings from four core pillars: HWH Marketplace, Hapi Cafe, Hapi Travel Destination and Hapi Wealth Builder. The common stock of the combined company is expected to begin trading on The Nasdaq Global Market (“Nasdaq”) under the new ticker symbol “HWH” on January 9, 2024. The Business Combination was approved at a special meeting of Alset’s stockholders on August 1, 2023. Upon the closing of the Business Combination, the previously-trading Class A common stock, and rights of Alset ceased to trade with such rights entitling its holder to receive such one-tenth (1/10) of one share of Alset Class A common stock upon the closing of the Business Combination.

The Business Combination and related listing of HWH’s common stock are anticipated to allow HWH to continue its growth momentum in the rapidly growing GIG economy.

About HWH International Inc.

HWH International Inc., a Nevada corporation, is a purpose-driven lifestyle company encompassing differentiated offerings from four core pillars: HWH Marketplace, Hapi Cafe, Hapi Travel Destination and Hapi Wealth Builder. HWH develops new pathways to help people in their pursuit of Health, Wealth and Happiness.

About Alset Capital Acquisition Corp.

Alset is a special purpose acquisition company formed for the purpose of entering a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses or entities. Alset began trading on the Nasdaq Stock Market in February 2022.

No Offer or Solicitation

This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.