Addentax Group Corp. Announces $646,800 Private Placement Of Its Common Stock; Company Will Sell To Each Of The Investor 330,000 Shares Of Common Stock At A Purchase Price Of $0.98/Share

Addentax Group Corp. +8.50%

Addentax Group Corp.




Addentax Group Corp. ("Addentax" or the "Company") (NASDAQ:ATXG), an integrated service provider focusing on garment manufacturing, logistics services, property management, and subleasing, has announced that it has entered into Private Placement Agreements (the "Agreements") with two investors (the "Investors"), who are independent third parties. Under the Agreements, the Company will sell to each of the investor 330,000 shares of common stock at a purchase price of $0.98 per share, resulting in aggregate gross proceeds of $646,800. The Agreement includes customary representations, warranties, covenants, conditions, and indemnities typical for agreements of this nature.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of any securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The rights offering will be made only by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

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