Midas AI, Former Executives Resign

[Asia Economy Reporter Hyungsoo Park] Midas AI announced on the 26th that Seokhyun Seo, chairman of Midas Partners, along with the previous management team, collectively resigned.

A Midas AI official stated, "Midas Partners Group is a purely financial investor," and added, "We hope that the resignation of the board members will help clarify any uncertainties."

He continued, "To avoid creating further misunderstandings, no additional registered directors will be appointed to replace the resigned board members."

The official emphasized that the remaining management will drive the business forward and hopes that the company's value will be properly evaluated through corporate growth.

Last year, Midas AI successfully returned to profitability in the third quarter by fully launching its information security solutions business and reducing costs. On the 24th, it acquired Jason & Company, which has cash-generating capabilities, and incorporated it as a consolidated subsidiary. Midas AI plans to maximize profitability this year by steadily developing its stable performance base and actively expanding its mid- to long-term growth engine, the cannabis business.

For its U.S. cannabis business, Midas AI acquired Melrose Facility Management (MFM), which operates cannabis cultivation and extraction facilities, in February last year. In December of the same year, it signed a memorandum of understanding (MOU) with ‘KUSH’ to acquire a local cannabis retail license. It also signed an MOU to acquire BuzzDeli, a specialized cannabis product delivery company.

This content was produced with the assistance of AI translation services.