Star Alliance International Corp. Sells its Assets to NoHo, Inc. in Exchange for NoHo, Inc.'s Publicly Traded Stock

Rhea-AI Summary

Star Alliance International Corp. (OTC: STAL) has announced the completion of its asset sale to NoHo, Inc. (OTC: DRNK) in exchange for DRNK's publicly traded shares. This strategic move comes after STAL faced significant regulatory and financial challenges in 2024, including rejected audits and OTC market reclassification.

Following the transaction, Anthony Anish, STAL's CEO, has assumed the CEO position at DRNK. STAL shareholders will receive DRNK shares as a dividend distribution once DRNK completes its audits and registration statement becomes effective. The company aims to pursue a 15C-211 filing with FINRA while maintaining its DRNK holdings.

Positive

• Strategic asset transfer to maintain shareholder value through DRNK shares
• Shareholders will receive dividend distribution of DRNK shares
• STAL CEO Anthony Anish assumes leadership role at DRNK
• Potential for improved liquidity through DRNK's public trading status

Negative

• SEC rejected STAL's 2023 and 2024 audits
• Failed to secure funding despite credit facility documentation
• Downgraded from OTC Pink to expert market due to delayed filings
• Complete divestment of company assets indicates significant operational challenges

LAS VEGAS, July 10, 2025 /PRNewswire/ -- Star Alliance International Corp. (OTC: STAL) ("STAR" or the "Company") today announced that it has successfully closed the sale of its assets to NoHo, Inc. (OTC: DRNK) ("DRNK") in exchange for shares of DRNK's publicly traded stock.

This transaction is an excellent move for STAR and its shareholders. Following the completion of DRNK's audits and the effectiveness of its registration statement, STAR shareholders will receive a dividend distribution of DRNK shares, establishing ownership interests in both entities. The transaction also initiates a change of control at DRNK. Anthony Anish, CEO of STAR, has assumed the CEO role at DRNK, and new board appointments are expected imminently to advance previous and new initiatives.

STAR has faced a number of regulatory and financial headwinds in 2024:

• Despite executing documentation for a sizable credit facility and receiving a "no further comment" from the SEC regarding its S-1 filing, STAR did not secure funding.
• The SEC rejected STAR's 2023 and 2024 audits following the suspension of its former PCAOB-registered auditor.
• The Company was reclassified from OTC Pink to the expert market due to a delayed 10-Q filing after delays as a result of reauditing the 2023 and 2024 10-Ks.

Given these constraints, Star strategically chose to divest its assets to DRNK to preserve and grow shareholder value. In parallel, the Company will pursue approval of a 15C-211 filing with FINRA while leveraging its DRNK holdings.

Anthony Anish, CEO of Star Alliance International Corp., commented "We weighed this decision carefully and ultimately determined that transitioning assets to a publicly trading vehicle was the best course for our shareholders, allowing them access to a more liquid market as we resolve outstanding issues."

Richard Carey, Chairman of Star Alliance International Corp., stated "Our commitment has always been to our shareholders. This move provides a pathway to restore trading while simultaneously building asset value via our DRNK stake."

About Star Alliance International Corp.

Star Alliance International Corp. ("Star" or "STAL"), founded in 2014 and incorporated in Nevada, is a diversified holding company focused on delivering long-term shareholder value. The Company now holds a strategic position in NoHo, Inc. (OTC: DRNK), and remains committed to transparency, operational sophistication, and value accretion through future diversification.

Safe Harbor and Forward-Looking Statement Disclaimer

This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.

The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement is not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the SEC. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.

Web Site: staralliancemines.com
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SOURCE Noho Inc.; Star Alliance International, Corp.

FAQ

What is the reason for STAL selling its assets to NoHo Inc (DRNK)?

STAL sold its assets to DRNK due to regulatory and financial challenges, including rejected audits and market reclassification. The move aims to preserve shareholder value by providing access to a more liquid market.

How will STAL shareholders benefit from the NoHo Inc (DRNK) asset sale?

STAL shareholders will receive a dividend distribution of DRNK shares once DRNK completes its audits and registration statement becomes effective, giving them ownership interests in both entities.

Who is the new CEO of NoHo Inc (DRNK) following the asset sale?

Anthony Anish, the CEO of Star Alliance International Corp., has assumed the CEO position at DRNK as part of the change of control following the asset sale.

What regulatory challenges did STAL face in 2024?

STAL faced several challenges including SEC rejection of 2023 and 2024 audits, suspension of their PCAOB-registered auditor, and reclassification to the expert market due to delayed 10-Q filing.

What are STAL's next steps after selling assets to DRNK?

STAL plans to pursue approval of a 15C-211 filing with FINRA while leveraging its DRNK holdings, and new board appointments are expected to advance previous and new initiatives.