Nordicus Partners A/S entered into an agreement to acquire EKIMAS Corporation (OTCPK:ASNB) from Reddington Partners LLC and others for $1.4 million in a reverse merger transaction on February 23, 2023. Pursuant to Agreement, EKIMAS issued 2.5 million shares of EKIMAS Corporation?s common stock for the acquisition of 100% of the issued and outstanding capital stock of Nordicus. As it is expected that the closing of such a transaction will result in a change in control, such transaction is expected to be accounted for as a reverse merger, with Nordicus Partners A/S being considered the legal acquiree and accounting acquirer, and EKIMAS would be considered the legal acquirer and the accounting acquiree. Over the next several weeks, the combined company intends to change the name of EKIMAS to Nordicus Partners Corporation and file necessary applications to change its ticker symbol.

Tom Glaesner Larsen and Christian Hill-Madsen, board members of Nordicus, were appointed to EKIMAS? board of directors. Henrik Rouf, another Nordicus board member, became the Chief Executive Officer of EKIMAS. Bennett Yankowitz resigned as EKIMAS? Chief Executive officer, will remain on the board of directors and will become Chief Financial Officer of EKIMAS. Transaction is subject to customary closing conditions. Shumaker Mallory LLP acted as legal advisor to EKIMAS.

Nordicus Partners A/S completed the acquisition of EKIMAS Corporation (OTCPK:ASNB) from Reddington Partners LLC and others in a reverse merger transaction on February 23, 2023.