Lion Group Holding Ltd. announced that on October 6, 2020, Mr. Shih-Chung Chou resigned from his position as a director of the Board of Directors at Lion Group Holding Ltd. .Mr. Chou’s resignation did not result from any disagreement with the Company. On October 6, 2020, Mr. Hua Luo, the chief operating officer, was appointed as a director of the Board to fill in the vacancy created by Mr. Chou’s resignation, effective immediately.