VCI Biofuels Group to Publicly List on NASDAQ through Merger with International Media Acquisition Corp.

New York, April 9, 2025 – VCI Biofuels Group and International Media Acquisition Corp. (OTC: IMAQ) have signed a definitive merger agreement. The transaction will result in VCI Biofuels Group becoming a publicly listed company on the NASDAQ under the name VI Energy.

VCI Biofuels Group Highlights:

• VCI Biofuels Group is a biofuel manufacturer in Vietnam, producing fuel ethanol, solvent alcohol, and food alcohol.
• Established in 2014, the company has a track record in environmental management, recycling, and biofuel processing.
• IMAQ believes VCI Biofuels Group is positioned to capitalize on the demand for biofuel in Vietnam and internationally.

Transaction Overview:

• The transaction values VCI Biofuels Group at an implied enterprise value of $1 billion.
• The boards of VNB, VCI, and IMAQ have unanimously approved the transaction, subject to regulatory approvals and stockholder approval.
• The merger aims to provide VCI Biofuels Group with access to capital markets to support its growth strategy.

Navin Sidhu, VCI Biofuels Group CEO, stated that the merger will enable the company to grow its production capacity and tap into the sustainable aviation fuel market. Yu-Fang Chiu, Chairperson, CEO and CFO of IMAQ, believes that VCI Biofuels Group is well-positioned in the renewable energy sector.

Loeb & Loeb LLP, Ogier and DaHui Lawyers are serving as legal advisors to International Media Acquisition Corp.