PLANET GREEN HOLDINGS CORP. ENTERED INTO FINANCING TRANSACTION

Rhea-AI Summary

Planet Green Holdings Corp. (NYSE American: PLAG) has entered into a Share Purchase Agreement with three investors, raising gross proceeds of $7,000,000. The Company will issue 7,000,000 shares of common stock at approximately $1.00 per share. The Transaction is subject to customary closing conditions. This financing aims to bolster the Company's capital base and support its future growth initiatives. However, investors should consider potential risks associated with forward-looking statements regarding the Company's future performance.

Positive

• Gross proceeds of $7,000,000 from share issuance.
• Issuance of 7,000,000 shares at $1.00 per share may indicate investor confidence.

Negative

• Future performance is subject to risks and uncertainties that could materially affect results.

NEW YORK, Jan. 13, 2022 /PRNewswire/ -- Planet Green Holdings Corp. (the "Company") (NYSE American: PLAG) announced today that the Company has entered into a Share Purchase Agreement with three investors (the "Transaction"). Pursuant to the agreement, the Company will receive gross proceeds of $7,000,000 in the aggregate, in exchange for the issuance of an aggregate of 7,000,000 shares of the Company's common stock, representing a purchase price of approximately $1.00 per share. The Transaction will be closed on customary closing conditions of this type of transaction.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management's current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the Securities and Exchange Commission, which are available, free of charge, on the SEC's website at www.sec.gov.

For more information please contact:
Ms. Lili Hu
Chief Financial Officer
Phone: 718 799 0380
Email: hulili@planetgreenholdings.com

View original content:https://www.prnewswire.com/news-releases/planet-green-holdings-corp-entered-into-financing-transaction-301460727.html

SOURCE Planet Green Holdings Corp.

FAQ

What is the significance of the Share Purchase Agreement for PLAG?

The Share Purchase Agreement allows Planet Green Holdings Corp. to raise $7,000,000 in gross proceeds, improving its capital base.

How many shares will Planet Green Holdings Corp. issue in this agreement?

The Company will issue 7,000,000 shares of common stock as part of the agreement.

What is the price per share for the new shares issued by PLAG?

The purchase price for the new shares is approximately $1.00 each.

What should investors be aware of regarding forward-looking statements in the PR?

Investors should be cautious as forward-looking statements are subject to risks and uncertainties that may affect actual results.

When will the transaction close for Planet Green Holdings Corp.?

The transaction will close upon the satisfaction of customary closing conditions.