Matrix Fuels Pivots to Waste Oil, Plans UAE Refinery Acquisition and Tech Spin-Off IPO

Dear Cashmere Holding Company, operating under the OTC ticker DRCR and soon to be rebranded as Matrix Fuels Inc., has announced significant strides in executing its 2026 business plan. The company is strategically pivoting from a diversified holding structure to focus on the industrial oil sector, highlighted by two major initiatives. First, it is preparing to spin off its gaming technology business through an anticipated IPO, with qualifying shareholders directed to pre-register at www.Techplay24.com to secure their shares. Second, and more centrally, DRCR is advancing its new focus on the Industrial Oil Business, which includes a corporate rebranding to Matrix Fuels and the development of a new corporate website at www.matrix-fuels.com.

The cornerstone of this strategic shift is the proposed acquisition of a modern waste oil refinery in the United Arab Emirates. This facility specializes in reprocessing waste marine oil, or "slop," collected from the thousands of vessels calling at UAE ports annually, as well as waste industrial oil from local collection programs. The refinery charges for waste removal and sells the reprocessed output as fuel oil and lubricants. Chairman Nicolas Link heralds the acquisition as "a fantastic acquisition for our shareholders," citing its high-margin, cash-generative, and profitable nature. He emphasizes the model's dual economic and environmental value in addressing the global challenge of waste oil, noting that numerous governments have expressed interest in replicating it. The valuation and financing, structured through equity and a royalty arrangement, are agreed in principle, pending final due diligence with an aim to close within two to three months.

This strategic move is set against a backdrop of regional instability and surging global energy demand. The press release notes that while military action spillover from Iran creates challenges, it also drives record-high local and export demand for oil, as traditional suppliers like other Middle Eastern nations and Russia face constraints. The UAE's strategic advantage of having export ports that bypass the Strait of Hormuz is highlighted as a key factor ensuring continued market access. Management is moving rapidly to complete the corporate transition, encouraging stakeholders to monitor updates via the company's X (formerly Twitter) feed under the handle @MatrixFuels and through news wires. The original release can be viewed on www.newmediawire.com, marking an exciting new chapter as the company positions itself in a resilient and high-demand sector.