Nixxy (NIXX) Withdraws Record Date for CognoGroup Spin-Off

Nixxy, Inc. (NASDAQ: NIXX), or "the Company", today announced that it is withdrawing the previously announced record date for its planned spin-off of its subsidiary, Atlantic Energy Solutions (OTC: AESO) ("AESO"), or CognoGroup, the anticipated future name of the Company following the spinoff.

Key Details

Original Announcement

• Original Record Date: November 15, 2024

• Originally Announced Spin-Off Date: TBD

• Original Distribution Ratio: TBD

Reason for Withdrawal

The decision to withdraw the record date is based on:

• Ongoing strategic evaluation of the corporate structure

• Pending additional regulatory reviews

• Optimization of shareholder value

• Alignment with broader strategic objectives

Next Steps

• The company will provide an updated timeline in a subsequent announcement

• Shareholders are advised to await further communication

• All previously disclosed information remains subject to review

Management Commentary

"The Company believes that the withdrawal of the record date for the CognoGroup spinoff will afford the Company with the additional time to better align with its corporate aims, allow for the orderly distribution of the CognoGroup shares and maximize shareholder value.", said Granger Whitelaw, CEO of the Company.

Additional Context

• The proposed spin-off of remains a strategic priority for the company

• The company remains committed to creating shareholder value

• Further details will be communicated as they become available

About Nixxy

Nixxy (Nasdaq: NIXX) is committed to transforming traditional markets through advanced technology and data-driven insights. By acquiring cornerstone businesses in established industries and evolving their operations with innovative solutions, Nixxy aims to unlock potential growth opportunities. The Company focuses on sectors poised for digital innovation, leveraging data and technology to potentially disrupt conventional business models.

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