Golden Heaven Group Holding Ltd. announced that it has entered into Securities Purchase Agreement with certain investors to issue 120,000,000 common shares at an issue price of $0.15 per share for the gross proceeds of $18,000,000 and Warrants to purchase up to 240,000,000 Class A Ordinary Shares on July 1, 2024. The Warrants have an exercise price of $0.20 per share, are exercisable on or after July 1, 2024 and will expire five years after that date. The Warrants contain standard adjustments to the exercise price, including for stock splits, stock dividends and reclassifications.

The Private Placement is expected to close on or about July 18, 2024. The gross proceeds to the Company from the Private Placement, before deducting estimated offering expenses payable by the Company, are expected to be approximately $18,000,000.