Nixxy provides update including contract developments, filing withdrawal

Nixxy (NIXX) provided a business update, including developments related to its recently announced contract with Mexedia and the utilization of newly acquired technology assets. The Company believes it will begin generating revenue from the Mexedia Contract in March 2025, marking a significant step forward in its growth strategy and expansion plans. The Company anticipates that, as it scales operations in this business line, it can achieve a projected monthly revenue run rate of approximately $25-27 million, subject to market conditions, and continued execution. Actual results may vary due to market conditions, operational factors, and other risks. On February 26, 2025, the Company also voluntarily withdrew its Registration Statement on Form S-1, filed on December 5, 2024, File No. 333-283625. The Company believes that withdrawing the Registration Statement is in the shareholders’ best interests, as the additional facility is no longer needed.