Kaspien Holdings Inc. Joins Hart Capital Inland Northwest Index and Composite

For Immediate Release

September 15, 2020

Kaspien Holdings to Join Hart Capital Inland Northwest Index

https://www.spokesman.com/stories/2020/sep/16/kaspien-holdings-inc-joins-hart-capital-inland-nor/

Kaspien Holdings, Inc. to be added to the Hart Capital Inland Northwest Index and the Hart Capital Inland Northwest Composite, known as the Hart Charts. On September 3, 2020, Trans World Entertainment Corp. held its annual shareholder meeting, at which time shareholders approved a name change to Kaspien Holdings and moved its headquarters to Spokane Valley, WA.

Trans World Entertainment purchased the Spokane, WA firm Etailz, Inc. for approximately $75 million in a cash and stock transaction on October 17, 2016. The headquarters for Trans World Entertainment was, at that time, located in Albany, NY. Following approval of the new headquarters in Spokane Valley, WA, Kaspien Holdings fits as an addition to the Hart Capital Inland Northwest Index and Composite.

Kaspien Holdings currently has 1.8 million common shares outstanding and a market cap of approximately $16 million. Kaspien Holdings will become the 8th active company included in the Hart Charts with the release of its Third Quarter 2020 report.

Hart Capital Management launched its Inland Northwest Index and Composite in 2006, at which time fifteen regional public companies were included. Since then, due to acquisitions and business closures, the number of local public companies had dropped to seven before the Kaspien Holdings inclusion. The distinction between Hart Capital Management’s two barometers of public companies is as follows; the Index is a performance barometer that uses the same formula that Standard & Poors uses to calculate its well-known S&P 500 Index. The Composite measures and ranks the absolute size of the companies by their market capitalization.

Hart Capital Management is an independent, research-focused investment firm that serves the Inland Northwest from its offices in Spokane, WA and Coeur d’Alene, ID. Its Index and Composites are for informational purposes only and do not reflect the Company’s direct investments on behalf of its clients.

Contact:

Craig Hart, (509) 444-7007, info@hartcap.com

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