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 two investors, securing gross proceeds of $4,100,000. In exchange, the company will issue 10,000,000 shares of common stock at an approximate price of $0.41 per share. The transaction is subject to customary closing conditions.

This press release also includes forward-looking statements that may involve risks and uncertainties, emphasizing that actual results could differ from those anticipated.

Positive

• Proceeds of $4,100,000 from new share issuance.

Negative

• Issuance of 10,000,000 shares may dilute existing shareholder value.

NEW YORK, May 19, 2022 /PRNewswire/ -- Planet Green Holdings Corp. (the "Company") (NYSE American: PLAG) announced today that the Company has entered into a Share Purchase Agreement with two investors (the "Transaction"). Pursuant to the agreement, the Company will receive gross proceeds of $4,100,000 in the aggregate, in exchange for the issuance of an aggregate of 10,000,000 shares of the Company's common stock, representing a purchase price of approximately $0.41 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

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SOURCE Planet Green Holdings Corp.

FAQ

What is the Share Purchase Agreement by Planet Green Holdings Corp. (PLAG)?

Planet Green Holdings Corp. has entered into a Share Purchase Agreement with two investors, resulting in gross proceeds of $4,100,000 for the issuance of 10,000,000 shares.

What are the terms of the stock issuance for PLAG?

The stock issuance is at a price of approximately $0.41 per share.

When was the Share Purchase Agreement announced for PLAG?

The Share Purchase Agreement was announced on May 19, 2022.

How could the Share Purchase Agreement affect PLAG shareholders?

The issuance of 10,000,000 shares may dilute existing shareholder value.

Where can I find more information about PLAG's financial transactions?

Additional information can be found in the reports filed with the Securities and Exchange Commission.