Mobile-health Network to Buy PP Grid for $1.5M

Mobile-health Network Solutions (NASDAQ: MNDR) entered a definitive Sale and Purchase Agreement on March 16, 2026 to acquire 100% of PP Grid Sdn. Bhd. (PPG) for US$1,500,000. The consideration is satisfied by converting a prior refundable deposit.

PPG holds a minimum 96.5% equity interest in IRIX Properties, owner of Lot 728 in Kuching, planned for a 25 MW AI-optimized data center. Closing is conditional on the vendor securing 96.5% of IRIX shares, obtaining data center permits, and Malaysian foreign-ownership clearances. The SPA includes clawback protection and 12 months of post-close assistance from the vendor.