Harrison Global approves $10M share buyback, discusses gold mine partnership

Harrison Global Holdings Inc. (NASDAQ: BLMZ) announced its board of directors approved a share repurchase program authorizing the buyback of up to $10 million in ordinary shares, provided the market price remains below $1.00 per share on a post-reverse-split basis.

The Tokyo-based company made the announcement following an investor webinar led by Co-CEO Ryoshin Nakade. The repurchase program allows for open-market purchases, private transactions, block trades, and other methods permitted under U.S. securities laws and Nasdaq rules.

During the webinar, management outlined progress across multiple business sectors including entertainment, biotechnology, and digital technology. The company highlighted recent acquisitions of Miss Korea Inc., Pokémon Center Korea, and Bucket Studios, along with a partnership with AI-powered entertainment platform Graves Inc.

Harrison Global also discussed its Strategic Business Agreement with HL Co., Ltd., a South Korean mining company, to develop the Suryun-myeon gold mine in Gyeongbuk Province. Preliminary geological assessments estimate the project area contains approximately 1,188,000 tons of ore at 14g/ton, equivalent to 16.63 tons of gold, pending independent verification.

Under the mining agreement, Harrison Global will handle global capital formation, project structuring, and overseas listing preparation, while HL Co., Ltd. will manage on-site operations and regulatory compliance.

The company reported progress on the second tranche of PIPE financing and projected its quarterly earnings report release between February and March. Management indicated the share repurchase reflects confidence in the company's long-term prospects and belief that current market valuations do not represent intrinsic value.

Co-CEO Nakade has been delegated authority to determine timing, pricing, and structure of the share repurchases and execute related agreements.

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