JM Global Holding: Press Release, Dated February 18, 2021

The following excerpt is from the company's SEC filing.
Exhibit 99.1
Code
Chain New Continent Limited Announces Pricing of $25 Million Registered Direct Offering
NEW
YORK, Feb. 18
, 2021 -- Code Chain New Continent Limited (the "Company" or "Code Chain") (NASDAQ:
CCNC), a leading eco-technology company, today announced that it has entered into a securities purchase agreement with certain
institutional investors to purchase (i) an aggregate of 4,166,666 shares of the Company’s common stock (the “Shares”)
and warrants to purchase up to an aggregate of 1,639,362 shares of common stock (the “Registered Warrants”) in a registered
direct offering and ( ii) warrants to purchase up to an aggregate of 2,527,304 shares of common stock (the “Unregistered
Warrants”) in a concurrent private placement. The combined per share purchase price will be $6.00 per Share.
Under
the terms of the securities purchase agreement, the Registered Warrants will be immediately exercisable, will expire 5 years after
the date of issuance and will have an exercise price of $6.72 per share, subject to certain adjustments as provided in the Registered
Warrants. The Unregistered Warrants will be first exercisable on the earlier of (i) six months from the issuance date or (ii)
the date that the Company obtains stockholder approval for the sale of all of the securities in the registered direct offering
and concurrent private placement, if such approval is obtained. The Unregistered Warrants will expire 5.5 years after the date
of issuance and will have an exercise price of $6.72 per share, subject to certain adjustments as provided in the Unregistered
Warrants.
The
gross proceeds of the offering are expected to be approximately $25 million, before deducting placement agent fees and other estimated
offering expenses. The Company plans to use the net proceeds from the offering for working capital and general business purposes.
The closing of the offering is expected to take place on or about February 22, 2021, subject to the satisfaction of customary
closing conditions.
Univest
Securities, LLC is acting as the exclusive placement agent for this offering. Ortoli Rosenstadt LLP serves as counsel to the Company,
and Sullivan & Worcester LLP serves as counsel to Univest Securities, LLC in connection with the Offering.
The
offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-232316) previously filed
and declared effective by the U.S. Securities and Exchange Commission (SEC) on July 8
, 2019. The offering of
the Shares and the Registered Warrants will be made only by means of a prospectus supplement describing the terms of the proposed
offering, will be filed with the SEC and can be obtained on the SEC’s website at http://www.sec.gov when available. Electronic
copies of the prospectus supplement may be obtained, when available, from Univest Securities, LLC, by email at IBAssistDesk@univest.us
or standard mail to Univest Securities, LLC, Attn: 375 Park Avenue, 15th Floor, New York, NY 10152.
Before
investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus
and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement
and the accompanying base prospectus, which provide more information about the Company and such offering. This press release does
not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of such jurisdiction.
About
Code Chain New Continent Limited
Founded
in 2009, Code Chain New Continent Limited engages in the research, development, and sale of solid waste recycling systems for
the mining and industrial sectors, the wholesale and sale of fuel materials, harbor cargo handling services and production and
sales of coating materials in the PRC. It provides end-users in these markets with a clean alternative to traditional waste disposal
by significantly reducing solid waste discharge into the environment and enabling such users to extract value from valuable metals
and other industrial waste materials. Upon completion of Sichuan Wuge Network Games Co., Ltd. ("Wuge"), the Company
has also diversified its business. Wuge was established in 2019 and is still in this early developing stage. Wuge produced electronic
tokens that combine the five-W elements (when, where, who, why, what), geographic location via the Beidou satellite system and
identity information using Code Chain technology. The electronic tokens are unique, tradable, and inheritable digital assets and
cannot be tampered. The electronic tokens are based on and stored in the Code Chain system and can be used to monitor and document
all kinds of consumer behaviors that involve code-scanning.
Safe
Harbor Statements
This
press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and
uncertainties. These forward-looking statements may include, but are not limited to, statements containing words such as "may,"
"could," "would," "plan," "anticipate," "believe," "estimate," "predict,"
"potential," "expects," "intends", "future" and "guidance" or similar expressions.
These forward-looking statements speak only as of the date of this press release and are subject to change at any time. These
forward-looking statements are based upon management's current expectations and are subject to a number of risks, uncertainties
and contingencies, many of which are beyond the Company's control that may cause actual results, levels of activity, performance
or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied
by such forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking
statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's public
filings with the Securities and Exchange Commission, including the Company's annual report on 10-K. The Company undertakes no
obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise,
except as required under applicable law.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

To receive a free e-mail notification whenever JM Global Holding Co makes a similar move, sign up!

Other recent filings from the company include the following:

JM Global Holding Co Just Filed Its Quarterly Report: Earnings per share B... - May 16, 2022
Other preliminary proxy statements - May 13, 2022
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or - May 6, 2022

Auto Refresh

Feedback