Broadway Technology (Gaokai) Enters Merger Agreement With Quartzsea Acquisition Corp To Complete SPAC Business Combination; Combined Entity To Trade On Nasdaq As "CUPS" Under Cuisine Universal Structure

Broadway Technology Inc ("Gaokai"), a leading manufacturer of high-quality PET (polyethylene terephthalate) cups and lids through its operating subsidiary Zhejiang Gaokai New Materials Co., Ltd., announced the execution of an Agreement and Plan of Merger (the "Merger Agreement") for a business combination with Quartzsea Acquisition Corporation (NASDAQ:QSEAU, QSEA, QSEAR))) ("Quartzsea"), a publicly traded special purpose acquisition company.

Upon consummation of the transaction contemplated by the Merger Agreement, (i) Quartzsea will be merged with and into Cuisine Universal Packaging Solution, a Cayman Islands exempted company and wholly owned subsidiary of Quartzsea ("Cuisine Universal") (the "SPAC Merger"), and (ii) concurrently with the SPAC merger, CUPS Sub Limited, a Cayman Islands exempted company and wholly owned subsidiary of Cuisine Universal, will be merged with and into Gaokai, resulting in Gaokai being a wholly owned subsidiary of Cuisine Universal (the "Business Combination" and the transactions in connection with the Business Combination collectively, the "Transaction"). Upon the closing of the Transaction, the combined company Cuisine Universal expects to be Nasdaq-listed under the ticker symbol "CUPS."