DoubleDragon : Acquisition or Disposition of Assets

SECURITIES AND EXCHANGE COMMISSION
SEC FORM 17-C CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Jul 4, 20222. SEC Identification Number 303543. BIR Tax Identification No. 2871914230004. Exact name of issuer as specified in its charter DoubleDragon Corporation5. Province, country or other jurisdiction of incorporation Republic of the Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office DD Meridian Park Bay Area Brgy 76 Zone10, San Rafael, Pasay City, Metro Manila, PhilippinesPostal Code13028. Issuer's telephone number, including area code [phone]. Former name or former address, if changed since last report N/A10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	2,345,028,600
Preferred	100,000,000
Total Debt (In Millions of Pesos)	47,539.96

11. Indicate the item numbers reported herein Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

DoubleDragon CorporationDD PSE Disclosure Form 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Acquisition of a prime 9,000 square meters land for its first international Hotel101 development located in Hokkaido Prefecture, Japan.

Background/Description of the Disclosure

On June 30, 2022, DoubleDragon Corporation's subsidiaries DDPC Worldwide Pte. Ltd. and Hotel101 Worldwide Private Limited have executed and paid the required payment deposit in the sales contract signed for the purchase of a prime 9,000 square meters land for its first international Hotel101 development located in Hokkaido Prefecture, Japan. The upcoming Hotel101 - Niseko, in Hokkaido Prefecture, Japan is expected to be patronized by local domestic travelers in Japan, and foreign tourists from other countries as well as Filipino travelers who visit Hokkaido for leisure as the site is accessible for Filipino travelers via just a few hours of flight from Manila to Sapporo New Chitose Airport. Hotel101 rooms globally are intended to be typical or similar in size and look catering to the mid- end market, enabling a highly efficient booking process allowing guests to know exactly what to expect in a Hotel101 wherever it may be located. The concept patent of Hotel101's pioneering condotel concept has already been filed and the Hotel101 trademark and country specific domains have been secured in various countries globally. The Hotel101 App for both Apple iOS and Android that is designed to efficiently work in multi countries is currently being developed. Hotel101 adopts dynamic pricing on its room rates similar to airline tickets where its room price moves up and down depending on the real time supply and demand on the chosen date of booking. Hotel101 intends to employ highly qualified and hospitable Filipinos in its projects and is envisioned to be a source of Filipino pride worldwide. The Hotel101 project is expected to enable DoubleDragon to generate revenue and income twice, first from the pre-selling of the Happy Room units, then second, after the project is constructed it generates long term recurring revenue from hotel operations. This first overseas project is also expected to put to motion as the first step for DoubleDragon towards its goal to export its Hotel101 concept in other countries.

Date of Approval by Board of Directors

Jun 30, 2022

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

DoubleDragon intends to grow its Hotel101 business globally and this upcoming Hotel101-Niseko in this prime property located in Hokkaido Prefecture is expected to become the starting point of the future global expansion.

Details of the acquisition or disposition

Date	Jun 30, 2022

Description of the Transaction

DoubleDragon Corporation's subsidiaries DDPC Worldwide Pte. Ltd. and Hotel101 Worldwide Private Limited will acquire a prime 9,000 square meters land for its first international Hotel101 development located in Hokkaido Prefecture, Japan.

Manner

Acquisition of a prime 9,000 square meters land

Description of the assets involved

The prime 9,000 square meters land where the Company intends to build Hotel101-Nisekois is located in Hokkaido Prefecture, Japan. The upcoming Hotel101-Niseko, in Hokkaido Prefecture, Japan is expected to be patronized by local domestic travelers in Japan, and foreign tourists from other countries as well as Filipino travelers who visit Hokkaido for leisure as the site is accessible for Filipino travelers via just a few hours of flight from Manila to Sapporo New Chitose Airport. Hotel101 rooms globally are intended to be typical or similar in size and look catering to the mid- end market, enabling a highly efficient booking process allowing guests to know exactly what to expect in a Hotel101 wherever it may be located. The concept patent of Hotel101's pioneering condotel concept has already been filed and the Hotel101 trademark and country specific domains have been secured in various countries globally. The Hotel101 App for both Apple iOS and Android that is designed to efficiently work in multi countries is currently being developed. Hotel101 adopts dynamic pricing on its room rates similar to airline tickets where its room price moves up and down depending on the real time supply and demand on the chosen date of booking.

Terms and conditions of the transaction

Nature and amount of consideration given or received

Consideration will be paid in cash and the Transaction value is significantly far below 10% of the Book Value of the Company, and is also below 1% of the Total Assets of the Company as of March 31, 2022.

Principle followed in determining the amount of consideration

Amount of consideration was agreed value of the parties

Terms of payment

Consideration will be paid in cash and the Transaction value is significantly far below 10% of the Book Value of the Company, and is also below 1% of the Total Assets of the Company as of March 31, 2022.

Conditions precedent to closing of the transaction, if any

N/A

Any other salient terms

N/A

Identity of the person(s) from whom the assets were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Sellers Company Name: Kabushikigaisha Izumikyo	N/A

Effect(s) on the business, financial condition and operations of the Issuer, if any

The Hotel101 project is expected to enable DoubleDragon to generate revenue and income twice, first from the pre-selling of the Happy Room units, then second, after the project is constructed it generates long term recurring revenue from hotel operations. This first overseas project is also expected to put to motion as the first step for DoubleDragon towards its goal to export its Hotel101 concept in other countries.

Other Relevant Information

-

If the transaction being reported is an acquisition, kindly submit the following additional information:

Source(s) of funds

From the company's currently available cash position

If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes

The lot is a vacant plot of prime land with other hotels in the vicinity of the property.

Filed on behalf by:

Name	Jose Roelph Desales
Designation	Investor Relations Head