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Timios Announces Expansion of Its Retail Purchasing Business

Signed leases in Santa Clarita, Lancaster, and Ventura The population of these three cities combined total about half a million people Part of a larger growth plan to serve robust U.S. housing market
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Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) announces the expansion of Timios Holdings Corp.’s (Timios) retail purchasing services in California with the addition of three new locations.

Timios has signed office leases in three new locations this quarter, Santa ClaritaLancaster and VenturaSanta Clarita is the third largest city by population in Los Angeles county. It is a fast-growing community with robust housing numbers, housing starts and home upgrade opportunities. Lancaster, located in the Antelope Valley, is another area of continued and sustained growth. Ventura, in Ventura county, is a mature coastal community with a vibrant housing market. Collectively, these three cities have a population of about half a million people. The three new offices are part of Timios’ continuing expansion program which has helped fuel its growth in recent years.

“This retail purchasing business expansion is part of Timios’ larger strategic growth plan,” said Timios CEO Raymond Davison. “With more companies offering the option to work remote, we believe housing activity will continue to be strong; Timios will continue to strengthen is service offerings to address the changing needs of the housing market.”

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