Minor Merger Announcement

Minor Merger Announcement

Our company has entered into a small-scale merger agreement with Sticky Monster Lab Co., Ltd. by resolution of the board of directors pursuant to Article 527-3 of the Commercial Act, and we hereby announce the following.

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1. Merger method: Blitzway Co., Ltd. absorbs and merges with Sticky Monster Lab Co., Ltd.
2. Merger ratio: Blitzway Co., Ltd.: Sticky Monster Lab Co., Ltd. = 1:0
3. Status of defunct companies

A. Company name: Sticky Monster Lab Co., Ltd.

B. Head office location: 26, Heewoojeong-ro 3-gil, Mapo-gu, Seoul, 1st and 2nd floors (Hapjeong-dong)

4. Merger Date: August 17, 2022
5. The merger between Blitzway Co., Ltd. and Sticky Monster Lab Co., Ltd. was carried out by a resolution of the board of directors without obtaining approval from the general shareholders' meeting pursuant to Article 527-3 of the Commercial Act.
6. Information on the exercise of expressing dissent

A. Event Procedure: As of June 27, 2022, shareholders registered in the shareholder register are eligible to apply. Shareholders who oppose the board of directors’ resolution on the merger must submit a notice of opposition to the board of directors’ resolution.

B. Submission Period: June 28, 2022 to July 12, 2022

D. Event method and location

1) Shareholders on the register: Submit to the company by July 12, 2022

2) Beneficial shareholders: Submit to the trading securities company by July 8, 2022 (※ 3 days before the shareholders on the register)

Ra. Stock purchase claim right: Stock purchase claim right is not recognized according to Article 527-3 of the Commercial Act.

According to Article 527-3 of the Commercial Act, if shareholders holding 20% ​​or more of the total number of issued shares express their opposition to a small-scale merger, approval must be obtained at the general shareholders' meeting.