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Merger of GCAL into the Sarine Group Completed

Sarine Technologies Ltd a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading andtrading of diamonds and gems, closed the acquisition agreement between Sarine and the Gem Certification & Assurance Lab, Inc (GCAL).

The merger creates a robust synergy between Sarine’s leading technologies, and in particular its

revolutionary AI-derived cloud-based on-site e-Grading™ system and verifiable data based Sarine

Journey™ traceability paradigm, and GCAL’s strong brand in the US market and uncompromising

quality control, backed by its industry-unique, consumer money-backed guarantee. The new merged entity, GCAL USA LLC, will be part of the Sarine group but will continue to be led and managed by GCAL’s experienced management team, which will retain a significant interest in the

company as part of the deal.

GCAL's existing customers will continue to receive GCAL’s grading and certification services

uninterrupted. In addition, U.S. (and worldwide) customers will be able to receive their guaranteed

GCAL grading certificates not only for polished diamonds graded in the U.S. for specific programs,

but also for the many diamonds processed through Sarine's growing installed base of grading

systems in the various manufacturing hubs, that will enable grading and sorting on-site at a fraction of the time and without the indirect costs of sending to a third party external gem lab, along with optional verifiable traceability data.

David Block, Sarine’s CEO commented, “I am thrilled by the opportunities created by this merger.

First and foremost, because we have found a partner that shares our values — quality, consistency,

reliability, transparency and customer centricity. Secondly, I truly believe that the merger will provide the U.S. and other markets a much-needed solution to their pressing concerns for fast, accurate, consistent and efficient grading, along with optional provenance data, critical in these times of geopolitical unrest.

‘I have absolute confidence in GCAL’s founders' commitment to these common principles, whom I welcome into the Sarine family, and in the leadership they will continue to provide to our joint endeavor in the years to come” , he added.

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