Ispire Technology Inc. Announces Key Leadership Appointments

LOS ANGELES, Aug. 14, 2023 /PRNewswire/ -- Ispire Technology Inc. ("Ispire" or "the Company") (NASDAQ:ISPR), a leader in vapor technology, providing high-quality, innovative products with first-class performance, announced today the appointment of Michael Wang as its Co-Chief Executive Officer.  Mr. Wang previously served as Chief Financial Officer. Concurrently, Daniel J. Machock was appointed as the new Chief Financial Officer.

Mr. Wang has assumed the role of Co-Chief Executive Officer alongside Tuanfang Liu, as Co-Chief Executive Officer. This strengthened leadership structure is designed to refine Ispire's strategic direction and spearhead the Company's future growth. Ispire's decision to elevate Mr. Wang stems from his record in strategic and financial leadership.

Mr. Wang expressed, "Having been deeply involved with Ispire's progress, I look forward to partnering with Tuanfang to further the Company's growth and expansion. Together, we share a mutual vision of global development and pioneering innovation within the Company."

Ispire is pleased to introduce Mr. Machock as its Chief Financial Officer. With extensive 25-year experience in financial strategy, notably from his tenures at Appetize Technologies, Inc., Chrome River Technologies, Inc., and other leading firms, Mr. Machock's appointment is set to bolster Ispire's financial footing.

On his appointment, Mr. Machock commented, "I am honored to take on the role of CFO at Ispire. Eager to harness my financial expertise, I deeply value the Company's unwavering dedication to innovation in the cannabis vaping arena and am committed to contributing to its continued success."

Ispire expects that the strategic leadership transitions will amplify its commitment to promote growth, operational excellence, technological advancement, and the enhancement of shareholder value.

About Ispire Technology Inc.

Ispire is engaged in the R&D, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products. The Company has or licenses from a related party more than 200 invention/design patents received or filed globally. Ispire's tobacco products are marketed under the Aspire brand name and are sold worldwide (except in the United States, PRC and Russia) primarily through its distribution network. Ispire's cannabis products are marketed under the Ispire brand name primarily on an original design manufacturer (ODM) basis to other cannabis vapor companies. Ispire currently sells its cannabis vaping hardware only in the United States, and it recently commenced marketing activities in Canada and Europe, primarily in the European Union.

Please visit www.ispiretechnology.com and follow us on Facebook, Twitter, Instagram, Linkedin, Pinterest, and YouTube. Any information contained on, or that can be accessed through, the Company's website, any other website or any social media, is not a part of this press release.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company's business strategies, the ability of the Company to market to the Ispire ONE, Ispire ONE's success if meeting its goals, the ability of its customers to derive the anticipated benefits of the Ispire ONE and the success of their products on the markets; the Ispire ONE proving to be safe, and the risk and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Special Note Regarding Forward-Looking Statements" and the additional risk described in Ispire's registration statement on Form S-1, which was filed with the SEC on August 11, 2023 and in "Management's Discussion of Financial Condition and Results of Operations" in the Company's Form 10-Q quarterly report for the quarter and nine months ended March 31, 2023. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

Investor Relations Contact:

Sherry Zheng

718.213.7386

[email protected]

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SOURCE Ispire Technology Inc.