Industry Leaders Align to Invest in Communications Market Innovation to Drive Growth and Create Shareholder Value

Chicago, IL, May 30, 2024 – Affluence Corp d/b/a Durham Black Inc. (OTC Pink: AFFU), a publicly traded holding company focused on asset light connectivity and applications, today announces the appointment of  Mary Stanhope, as the company’s President and Chief Operating Officer (COO), effective immediately. Mary will have responsibility for operational oversight and strategy of the holding company and its subsidiaries. She will also serve as a member of the company’s Board of Directors.

Today, Durham Black also announces the expansion of its Board of Directors from three to six members, underscoring the company’s commitment to enhancing expertise and governance as well as driving sustainable growth.  Robert Pollan will join the Board as an independent director, stepping into the role of Chairman; and recently announced CEO and Board Director, Patrick Shutt, will take on the role of Vice Chairman.

The newly expanded Board of Directors brings together a diverse group of accomplished professionals with extensive experience across the connectivity market in operations, investment, and revenue. The new board members will play a pivotal role in providing strategic guidance, overseeing corporate governance, and executing Durham Black’s overall vision to drive digital transformation across the global communications market by providing highly innovative asset light software and solutions.

This forms part of the company’s ongoing strategy to add operating and industry experience in order to drive growth and expansion throughout the business, and in turn create shareholder value.

“Mary is an ideal leader to shape Durham Black’s operations and to align the overall strategic direction into a successful operating system,” says Patrick C. Shutt, CEO of Durham Black Inc. “With her world-class commercial experience, and proven leadership and oversight of companies including SchlumbergerSema and Unitas Global, her steadfast approach to leading teams through periods of growth, will be an asset to the growing list of acquisition targets within Durham Black.”

Shutt adds, “We have brought together a great team, these new director appointments bring a fresh perspective and renewed commitment to the Board and our company. Their collective expertise and insights will be instrumental as we navigate our next phase of growth and expansion. With hundreds of years of combined experience among the group, we are well-positioned to transform the global connectivity industry by pioneering innovative AI-enabled, data-centric solutions with service excellence.”

Robert Pollan, an experienced executive with more than 35 years of global investing, operating, and board experience, shares, “I am excited to join the Board of Durham Black as Chairman and to help steer the company toward fulfillment of its vision. From the time at Internet Capital Group investing in unique businesses with differentiated intellectual property (IP) to championing automation, optimization and IP investments at Universal Access, Global Capacity and Unitas Global, I have been passionate about helping businesses achieve their potential.  At Internet Capital Group, we created a highly valuable model where we invested in experienced, knowledgeable operators and management teams that were subscale, to create highly innovative companies that created value in the markets they serve. We have an incredible opportunity to repeat that strategy in the global connectivity market with Durham Black, utilizing this public vehicle to make an impact in the industry and create meaningful shareholder value.”

Mary Stanhope, an executive passionate about technology innovation with over 30 years of global mergers and acquisition experience shares, “I am honored to take on the role as President and COO and look forward to working closely with our talented team to drive operational excellence and strategic growth across our subsidiaries,” said Mary Stanhope. “The company’s vision to transform the global connectivity market through AI-enabled and asset-light solutions aligns perfectly with my expertise in scaling technology innovation. Together, we will leverage our collective experience to identify and capitalize on new opportunities, foster growth, and expand our market presence. This is an exciting time for Durham Black, and I am thrilled to be part of this journey.”

The robust team brings unique perspectives and strategic insights that align with Durham Black’s objectives to unlock new markets by expanding the company’s addressable market into the $1.7 trillion global communications market, to invest in asset-light innovation, and create sustainable value for all stakeholders.

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About Durham Black Inc. (OTC Pink: AFFU) a public holding company focused on creating value through strategic investments and acquisitions in asset-light, innovative, and AI-enabled software and services for the global communications market.  The public holding company serves as an acquisition and growth vehicle, aiming to acquire, build, and grow innovative companies that are subscale, which in turn enables the $1.7 trillion global communications market to embrace digital transformation.

For more information on Durham Black Inc. and investment opportunities, please visit www.durham-black.com or contact:

Investor Relations: For further information regarding AFFU Investor Relations, please call +1 720-295-6409.

Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities.

Patrick C Shutt Appointed New CEO to Enhance Growth and Expand Company’s Market Presence

OAK BROOK, IL / May 20, 2024 – Affluence Corporation (OTC PINK:AFFU), a publicly traded smart industry software and IoT technology company, today announces the successful completion of its merger with Durham Black Inc, a privately held technology services company. The merged company will operate as Durham Black Inc. and continue to trade over the counter on the Pink Market with the ticker symbol AFFU.

This transformative merger marks a pivotal moment for Affluence Corporation, now doing business as Durham Black Inc., and will unlock new markets by expanding the company’s addressable market into the $1.7 trillion global communications market.

The merged public holding company intends to increase shareholder value through a set of new acquisitions, presently under letters of intent (LOI), establishing Durham Black Inc. as a global leader in asset-light, innovative, and AI-enabled software and services, focused on the global communications market.

With the merger, Patrick C Shutt is appointed as the new CEO and Board Director of Durham Black Inc. Shutt is a seasoned executive with over 30 years of leadership and capital markets experience in the technology and connectivity industry. He has a strong track record of successfully growing technology companies and leading them through significant milestones, including Universal Access, Global Capacity, and most recently at Unitas Global, where the company grew from start up, to over $80m and was sold to PacketFabric at an attractive market multiple of revenue.

“I first want to thank the executive team, board and key shareholders of Affluence Corporation for their hard work and dedication in bringing this merger to fruition.  Together, we are well-positioned to maximize the exciting opportunities in the global communications market. I am honored to lead Durham Black Inc. during this pivotal moment,” remarked Shutt. “As a public holding company with our team’s strong operational experience and deep knowledge of the technology and communications industry landscape, we are very well positioned to capitalize on emerging opportunities to transform the global connectivity market and create substantial shareholder value.”

James E Honan, Jr, who has served as the CEO of Affluence Corp since 2019 and played a key role in establishing the company’s focus on IoT software, will be transitioning from his position to continue to serve as a member of the Board of Directors. Honan expressed his enthusiasm about the completion of this transformative merger, emphasizing “This strategic move will enhance the company’s market position and enable the expansion of its capabilities. This, in turn, will support the pursuit of our two-pronged growth strategy, involving the exploration of new markets and the addition of value through multiple acquisitions.”

Durham Black Inc. is fully committed to honoring and advancing the current Letters of Intent (LOIs).  These agreements represent significant opportunities for the company to expand its market presence and leverage innovative technologies.



Contact Information:

Affluence Corp Media Relations Email:  press@affucorp.com

Durham Black Media Relations Email:  press@durham-black.com

For further information contact Affluence Corporation Investor Relations at +1 720-295-6409.

Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities.