Onfolio Holding, Inc. (Nasdaq: ONFO, ONFOW) (OTC:ONFOP) ("Onfolio" or the "Company"), an owner-operator of cash-generative online businesses, today announced the mutual termination of the previously announced binding Letter of Intent ("LOI") with Paramount Helium LLC ("Paramount Helium") that contemplated a strategic combination intended to establish the Company in the global industrial gas market.

The contemplated transaction had several conditions to closing, including the completion of due diligence, raising of sufficient capital by Paramount, and delivery of audited financials, which were not met and were not likely to be met. Both Onfolio and Paramount agreed it would be in the best interest of the shareholders of both Onfolio and Paramount to terminate the LOI and no longer to move forward with the strategic transaction and pursue other options.