WILMINGTON, Del., July 23, 2026 (GLOBE NEWSWIRE) -- Onfolio Holdings, Inc. (Nasdaq: ONFO, ONFOW) (OTC: ONFOP), an owner-operator of cash-generative online businesses, today published a detailed shareholder update on the recently terminated strategic transaction with Paramount Helium LLC and the Company's operational priorities for the remainder of 2026.
On July 8, 2026, the Company announced a binding letter of intent with Paramount Helium contemplating a strategic combination in the industrial gas market. On July 22, 2026, the parties mutually agreed to terminate the LOI after conditions to closing, including the raising of sufficient capital by Paramount, were not met and were not likely to be met. Today's article gives shareholders the full account: why the Company evaluated the opportunity, how the transaction was structured to protect existing shareholders, and where the Company's focus goes from here.
The update responds directly to questions shareholders raised following the termination, including how the Company thinks about opportunities outside its core focus and what shareholders should expect to see over the next 90 days.
Key highlights include:
The LOI carried conditions to closing designed to protect existing shareholders, including completed due diligence, sufficient capital raised by Paramount, and delivery of audited financials. The transaction was called off when it became clear those conditions were not likely to be met.
The Company has refocused on its core strategy of acquiring and operating profitable online businesses.
The Company has submitted its compliance plan to Nasdaq addressing the stockholders' equity requirement, and intends to cure the minimum bid price requirement within the compliance period ending December 31, 2026, as it has done previously.
The Company retains previously announced LOIs for additional acquisitions, which it intends to pursue as its capitalization improves.
Near-term priorities include strengthening the balance sheet, reducing parent company overhead, and restoring cash distributions from portfolio companies to the parent.
"Press releases only tell you so much, and shareholders deserve the full story," said Dominic Wells, CEO of Onfolio. "The helium opportunity was worth evaluating, and the conditions we required meant we could pursue it without betting the company. When it became clear those conditions wouldn't be met, we called off the deal and got back to work."
"The helium opportunity was potentially transformative, but it didn't pan out, and it doesn't change the fundamental plan we've been working towards for months," continued Wells. "I believe we can close the previously announced acquisitions while regaining Nasdaq compliance, strengthening the balance sheet, and closing the profitability gap."
The full article, titled "What Happened With Onfolio's Helium Deal," is available on the Company's website at: https://onfolio.com/what-happened-with-onfolios-helium-deal/
About Onfolio Holdings
Onfolio Holdings Inc. (Nasdaq: ONFO) is an owner-operator of cash-generative online businesses. The Company acquires and operates profitable online businesses across diverse verticals, including marketing, education, and e-commerce, with a focus on sustainable cash flow and long-term value creation.
Visit www.onfolio.com for more information.
Forward-Looking Statements
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us in Item 1.A "Risk Factors" in our most recent Form 10-K and Form 10-Q; other risks to which our Company is subject; other factors beyond the Company's control. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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