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ZK International enters iGaming with a series of up to $ 50 million investment in carousel group to launch MaximBet

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WENZHOU, China, April 5, 2021 / PRNewswire / –ZK International GroupCo., Ltd.(Nasdaq: ZKIN) (“ZKIN”, “ZK International”) is pleased to announce that it has led a $ 50 million Series A round of financing at CG Malta Holding Limited (“CGM”), a multi-state, globally licensed, fast-growing, privately held, privately held, sports betting and casino operator. MaximBet.com.MaximBet is a strategic partnership with Maxim, a well-known media brand and CGM.

The Company’s investment in CGM will be total $ 50 million through two closures. The first closing took place today in which the Company has gained a 12% interest on the purchase price of $ 15,000,000. The second closing, which is expected to occur within the second quarter, will result in the purchase of an additional 13% of the purchase price of $ 35,000,000Upon completion of the two closures, the Company will own a total interest of 25% on MaximBet.

MaximBetw will consist of a sports betting website and leading casinos in the market in MaximBet.com, and optional native iOS and Android apps that will allow users to bet on sports and casinos in United States and around the world. The new venture will utilize Maxim’s integrated network of print, digital, social and experiential platforms to engage Maxim’s loyal community and sports bookmakers.

“Maxim has been successfully established as a leading lifestyle brand over the past 25 years,” he said Daniel Graetzer, CEO of CGM. The CEO of CGM continues, “Our common goal is to provide sophisticated entertainment and VIP experience for the same client demographic that makes Maxim the perfect partner for CGM.”

In addition to currently operating directly on Colorado, Carousel Group has also entered into a multi-state, 10-year partnership with Caesars Entertainment, Inc. (NASDAQ: CZR) that will see its online sports book made available to customers in New Jersey, Indiana AND Iowa, as well as its online casino at New Jersey, pending obtaining the necessary gaming licenses. MaximBet aims to capture a significant share of the US online gambling market, which is projected to be every year $ 10 billion industry by 2025.

Last month, ZKIN announced the formation of its new wholly owned subsidiary, xSigma Entertainment Limited, with the aim of acquiring online gaming assets to increase shareholder value targeting businesses in the growing online casino industry. The company is happy to share that its first strategic investment in the online gambling industry in the US is with an internationally recognized brand and a premier operator that boasts a team of decades of experience.

Today’s closing e $ 15 million in Series A financing marks the beginning of the Company’s innovative approach to adding value to its shareholders. Jiancong Huang, The President of the Company, says, “We are pleased to act as a capital partner for such an amazing brand and an experienced management team. Our company and shareholders are enthusiastic about the future and we are looking forward to add value. of shareholders in CGM as MaximBet ready to rapidly escalate its operations in 2021. “

CGM CONNECTION AND MAXIM PRESS RELEASE

https://www.carouselgroup.net/maxim-and-carousel-group-partner-to-launch-maximbet

About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based engineering company that builds and invests in innovative technologies for the modern world. With a focus on designing and implementing next generation solutions through industrial, environmental and software engineering, ZKINowns 28 patents, 21 trademarks, 2 Technical Achievement Awards and 10 National and Industry Standard Awards.

ZKIN ‘s core business is to engineer and manufacture patented high – performance stainless steel and carbon steel pipe products that effectively provide the Chinese with high quality, highly sustainable and environmentally sound drinking water. Asia and European markets. CZ International is Certified for Quality Management System (ISO9001), Certified for Environmental Management System (ISO1401) and a National Licensed Industrial Steel Production. It has supplied stainless steel pipelines for over 2,000 projects, which include Beijing National Airport, the “Water Cube” and the “Bird’s Nest”, which were venues for the 2008 Beijing Olympics. CZ International is preparing to take advantage of the $ 850 billion commitment made by the Chinese government to improve water quality, which has been declared to be 70% unfit for human contact.

In 2018, ZKIN established its wholly owned corporation xSigma to develop new software solutions that support its core operations while exploring new opportunities in intelligent contracts, distributed books, supply chain management, and blockchain architecture. The xSigma Labs team consists of previously world-class developers and engineers from Facebook, Google, Amazon, Ripple and 1inch, most recently launching its first DeFi project in the Fall of 2020.

In March 2021, ZKIN announced the formation of its new wholly owned subsidiary, xSigma Entertainment Limited. It was created as part of the integrated network of CZ companies focused on developing and investing in innovative software technology platforms. The mandate of xSigma Entertainment is to gain wealth in the high-growth gaming market in the US. Sigma Entertainment aims to increase shareholder value by targeting and investing in the early stages of online gambling businesses that are ready for exponential growth and exit.

For more information please visitwww.ZKInternationalGroup.com. Furthermore, please follow the company atTweet,Facebook,to YouTube, andWeibo. For further information on Company SEC registrations, please visitwww.sec.gov.

About CG Malta Holding Limited

CG Malta Holding Limited (www.carouselgroup.net) is a licensed sports betting and licensed casino operator established in 2017 with the mission to build a sports book focused on building long-term customer relationships. Formed by top executives with more than 100 years of collective experience in the gaming industry, Carousel Group uses proprietary technology to build personalized betting experiences. The core values ​​of the company are to create a positive impact on the industry through the promotion of responsible gaming and the practice of corporate social responsibility by delivering exceptional betting experiences.

About Maxim

Maksima (www.maxim.com) is a multimedia company and the main destination for modern men living life to the fullest. Maxim creates an unparalleled luxury experience that is part fantasy, aspirational part and achievable part, publishing 9 editions available in 75 countries. The Maxim brand is experienced in all print, digital, social, events, licenses and the annual Maxim Cover Girl competition. Maxim celebrates the most beautiful women in the world, adventures that require thrills in exotic destinations, world-class entertainment, luxury vehicles, speed-searching motorcycles, the best industry titans, extraordinary athletes, the latest equipment, clothing and style.Maxim.comand socially connect with over 10 million mobile men on a monthly basis and Maxim Experiences brings brand life to epic proportions.

Safe Harbor Statement
This news 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, and as set forth in the Securities Reform Act. U.S. Securities Litigation 1995. Without limiting the generality of the above, words such as “may”, “will”, “expect”, “believe”, “anticipate”, “intend”, “may”, ” evaluate “or” continue “or its negative variations or comparable terminology are intended to identify future statements. Furthermore, any statements that refer to expectations, predictions or other characterizations of future events or circumstances are future statements. These future statements are not a guarantee of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of CZ International. Current results may differ from those projected in future statements due to risks and uncertainties as well as other risk factors included in the Company records in the US Securities and Exchange Commission. Although CZ International believes that the assumptions underlying the -statement of statements are reasonable, any of the assumptions may be inaccurate and, therefore, there can be no assurance that the results predicted in future statements will be realized. In light of the significant uncertainties inherent in the future information contained herein, the inclusion of this information should not be construed as representation by CZ International or any other person whose objectives or plans will be achieved. CZ International assumes no obligation to review future statements contained herein to reflect events or circumstances after that date or to reflect the occurrence of unforeseen events.

Investor contact:
Sherry Zheng
Weitian Group LLC
Email: [email protected]
Phones: +1 718-213-7386

SOURCE ZK International Group Co., Ltd

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