Hero Innovation Group Inc. Commences Strategic Review to Address Financial Challenges and Preserve Stakeholder Value
November 3, 2025
VANCOUVER, B.C. – November 3, 2025 – Hero Innovation Group Inc. (“Hero” or the “Company”) (CSE: HRO) today announced that its Board of Directors has initiated a comprehensive review of strategic and financial alternatives in response to ongoing liquidity constraints. The objective of this process is to identify and implement measures that will strengthen the Company’s financial position and preserve long-term value for its stakeholders.
Financial Challenges and Strategic Review
Hero continues to face a prolonged revenue shortfall and liquidity pressure primarily due to lower-than-expected sales recovery and limited working capital, which has slowed product upgrade timelines. While operating expenses have been maintained at controlled level, the Company’s available cash resources are insufficient to sustain operations beyond the near term without additional funding or a strategic transaction.
Negotiations with potential investors have been prolonged and remain unresolved, resulting in the suspension of subsequent funding commitments. In addition, the Company is addressing certain legacy payroll-related claims dating from prior fiscal periods.
To address these challenges, the Board of Directors has initiated a strategic review of all available options, which include but are not limited to:
- Securing Additional Financing: Engaging with potential investors and lenders to raise equity or debt capital;
- Asset Sales or Divestitures: Exploring the sale of non-core assets or specific business units to generate immediate liquidity;
- Business Combination or Merger Opportunities: Evaluating potential strategic transactions with parties that could provide financial stability and operational synergy; and
- Corporate or Financial Restructuring: Considering restructuring options aimed at reducing liabilities, improving cash flow, and preserving stakeholder value.
As part of this comprehensive review, the Board is also evaluating all restructuring avenues available to the Company, including any formal processes under applicable insolvency legislation, should such measures become necessary to protect stakeholder interests and facilitate an orderly review process.
Immediate Measures and Operational Focus
In parallel, Hero has initiated an accelerated plan to further reduce operating expenditures and preserve cash. These measures include deferral of non-essential spending, prioritization of critical business functions, and continuing discussions with creditors and suppliers to optimize working capital.
Tai Jiang, Chief Executive Officer of Hero, stated:
“The Company has been operating under prolonged financial pressure, and our focus now is to conduct a transparent and responsible review of all available options in the best interests of all shareholders, employees, and other stakeholders.”
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. There can be no assurance that the strategic review process will result in any transaction or that any transaction, if pursued, will be successfully completed. The Company has not set a timetable for the conclusion of this review and does not intend to make further public announcements regarding the progress or status of the review unless required by law. Forward-looking statements are not guarantees of future performance and are subject to numerous assumptions, risks, and uncertainties, including the Company’s ability to obtain financing or complete any strategic transaction.
About Hero Innovation Group Inc.
Hero Innovation Group Inc. (CSE: HRO) is a fintech and technology innovation company focused on developing secure payment solutions and digital identity platforms. The Company’s products include the SideKick™ prepaid card and related technology services designed to enhance financial access for youth, students, and newcomers to Canada.
Contact
Hero Innovation Group Inc.
Tai Jiang, Chief Executive Officer
Email: tai@euroasiapay.com
Website: https://www.heroinnovationgroup.com/
VANCOUVER, B.C. – October 21, 2025 – Hero Innovation Group Inc. (“ Hero ” or the “ Company ”) ( CSE: HRO ) announces that Christian (Hong) Yuan has resigned as a director of the Company, effective as of October 14, 2025. The Company is currently seeking a suitable candidate for appointment to the Board to fill the vacancy. The Company wishes to thank Mr. Yuan for his dedication and service to the Company. The Company wishes to provide corporate updates on its board of directors and management. The current directors of the Company are Tai Jiang and William Wey-Tsu Ying. Tai Jiang is the Company’s current Chief Executive Officer, and Kuen Lau is the Company’s current Chief Financial Officer and Company Secretary. About Hero Innovation Group Inc. Hero Innovation Group Inc. (formerly, Euro Asia Pay Holdings Inc.) is a developer of innovative financial solutions for the next generation of consumers. Through its flagship product, SideKickTM, introduced in 2018, the Company identified unmet needs in the market within specific demographics, such as international students in Canada, and delivered a product to address those needs. Hero Financials, the Company’s largest product, is targeted at parents, kids and young adults across Canada. With financial literacy at the forefront of the Company’s values and a plethora of advanced proprietary technology features, Hero Financials prepares kids to become financially smart adults through a variety of financial literacy tools. To learn more about Hero Group’s products and services, visit www.heroinnovationgroup.com. On behalf of the Board of Directors Tai Jiang CEO and Director For further information, contact: Luiz Pion VP Business Development ir@heroinnovationgroup.com Disclaimer for Forward-Looking Information This news release contains forward-looking information within the meaning of Canadian securities legislation concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements regarding, but not limited to: the ability for the Company to perform its obligations under the Agreement; the receipt of applicable third party approvals of the Agreement and the Loan convertibility, including, but not limited to, minority shareholder approval and that of the CSE, and such other statements contained herein that are not purely historical in nature. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Important factors that could cause actual results to differ materially from those expressed in the forward-looking information include: the CSE may not approve the securities issuable pursuant to the Agreement; that the requisite minority shareholders approvals may not be obtained by the parties in connection with the Conversion; and other factors beyond the control of the Company. The ongoing COVID-19 pandemic, labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company’s operating performance, financial position, and future prospects. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward-looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
VANCOUVER, B.C. – December 3, 2024 – Hero Innovation Group Inc. (“ Hero ” or the “Company”) ( CSE: HRO ) is pleased to announce that it has appointed Tai Jiang and Hong Yuan to the Company’s Board of Directors, in place of Wei Shao who has resigned as the director. The Company also appointed Tai Jiang, as Chief Executive Officer of the Company in place of Morris Chen, who has stepped down as Chief Executive Officer and Kuen Lau as the Chief Financial Officer in place of Kevin Chen, who has resigned as Chief Financial Officer. The Company wishes to thank Mr. Chen for their significant contributions in leading the Company. Tai Jiang Mr. Jiang is a globally-minded entrepreneur and seasoned investor with 30 years of experience in finance and capital markets. With a strong track record in global investments and expertise in both primary and secondary markets, Mr. Jiang excels in macroeconomic analysis, data-driven insights, industry research, risk management, and quantitative investment strategies. Mr. Jiang brings a deep understanding of emerging technologies in Web 3.0 era, including blockchain, cryptocurrency, AI applications, and the transformative potential of AR/VR in s haping the metaverse. His unique insights and hands-on experience position him as a leader in navigating these dynamic fields. Hong Yuan Mr. Yuan is currently serving as the Director & CEO of a major investment company in Canada, Chairman of a Canadian fund company, and Chairman of a diversified group company in Canada. With over 20 years of experience as a senior executive, Mr. Yuan specializes in information management, investment, and entrepreneurship. He excels in business model design, cross- industry consulting, and the managing cross-border corporate operations. Mr. Yuan is a strong advocate for integrity and pragmatism. He is committed to building a positive new image for the Chinese community and dedicates himself to supporting new Chinese immigrants in integrating into local life, finding employment, and starting businesses. Kuen Lau Ms. Lau has over 20 years of experience in senior financial executive roles, she has extensive experience in assurance practice, financial reporting, internal control sectors and tax planning. Ms. Lau began her career as an auditor with one of the Big Four professional service firms and provided professional services for certain amounts of listed companies in Hong Kong. Ms. Lau is a fellow member of ACCA, HKICPA and Taxation Institution of Hong Kong. About Hero Innovation Group Inc. Hero Innovation Group Inc. (formerly, Euro Asia Pay Holdings Inc.) is a developer of innovative financial solutions for the next generation of consumers. Through its flagship product, SideKickTM, introduced in 2018, the Company identified unmet needs in the market within specific demographics, such as international students in Canada, and delivered a product to address those needs. Hero Financials, the Company’s largest product, is targeted at parents, kids and young adults across Canada. With financial literacy at the forefront of the Company’s values and a plethora of advanced proprietary technology features, Hero Financials prepares kids to become financially smart adults through a variety of financial literacy tools. To learn more about Hero Group’s products and services, visit www.heroinnovationgroup.com. On behalf of the Board of Directors Mao Sun Director For further information, contact: Luiz Pion VP Business Development ir@heroinnovationgroup.com Disclaimer for Forward-Looking Information This news release contains forward-looking information within the meaning of Canadian securities legislation concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements regarding, but not limited to: the ability for the Company to perform its obligations under the Agreement; the receipt of applicable third party approvals of the Agreement and the Loan convertibility, including, but not limited to, minority shareholder approval and that of the CSE, and such other statements contained herein that are not purely historical in nature. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Important factors that could cause actual results to differ materially from those expressed in the forward-looking information include: the CSE may not approve the securities issuable pursuant to the Agreement; that the requisite minority shareholders approvals may not be obtained by the parties in connection with the Conversion; and other factors beyond the control of the Company. The ongoing COVID-19 pandemic, labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company’s operating performance, financial position, and future prospects. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward-looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
VANCOUVER, B.C. – February 21, 2023 – Hero Innovation Group Inc. (“Hero” or the “Company”) (CSE: HRO) announces that it has appointed Mao Sun and Wei Shao to the Company’s Board of Directors, in place of Peter MacKay and Larry Yen who have resigned as directors. The Company also appointed Mao Sun as the Chief Executive Officer in place of Peter MacKay, who has stepped down as Chief Executive Officer and Kevin Chen as the Chief Financial Officer in place of Mao Sun who has resigned as Chief Financial Officer. Mao Sun will continue to act as the Chief Executive Officer for the Company. The Company would like to thank Mr. MacKay and Mr. Yen for their many contributions to the Company. Wei Shao Mr. Shao is the national practice group co‐leader for the China Service at Dentons Canada and specializes in international business transactions. He has extensive experience in mergers and acquisitions, corporate and project financing, complicated corporate and commercial transactions, and advising clients with respect to business negotiations, policy and regulatory matters, as well as government relations. Mr. Shao has represented Asian investors and entrepreneurs, sovereign and investment funds, private and public companies as well as major SOEs in various significant transactions in or through Canada. He has also advised Canadian and international companies in their investment in China and other parts of Asia. Mr. Shao is also an interpreter accredited by the United Nations and by the federal government of Canada. As an interpreter or consultant, he has been involved in numerous ministerial and prime ministerial meetings or negotiations between Canada and China. Kevin Chen Mr. Chen has over 20 years of experience in senior financial executive roles and his work focuses on private and public companies in the mining and technology sector. Mr. Chen began his career as an auditor with KPMG LLP and is a CPA, CMA in British Columbia with an MBA degree from Western University. About Hero Innovation Group Inc. Hero Innovation Group Inc. (formerly, Euro Asia Pay Holdings Inc.) is a developer of innovative financial solutions for the next generation of consumers. Through its flagship product, SideKickTM, introduced in 2018, the Company identified unmet needs in the market within specific demographics, such as international students in Canada, and delivered a product to address those needs. Hero Financials, the Company’s largest product, is targeted at parents, kids and young adults across Canada. With financial literacy at the forefront of the Company’s values and a plethora of advanced proprietary technology features, Hero Financials prepares kids to become financially smart adults through a variety of financial literacy tools. To learn more about Hero Group’s products and services, visit www.heroinnovationgroup.com. On behalf of the Board of Directors Mao Sun CEO For further information, contact: Mao Sun CEO ir@heroinnovationgroup.com

