Wetouch Technology Inc. announced that it has entered into a securities purchase agreement for a private placement of convertible promissory notes for gross proceeds of $675,000 on November 5, 2021. The transaction included participation from Mast Hill Fund, L.P. The notes of principal value, $750,000 are issued for $675,000 after an original issue discount of 10%. The notes bear interest at the rate of 8% per annum and are payable on the one-year anniversary of the issuance of the note. The company has paid investors? legal fees of $20,000. If the company fails to repay the note by the maturity date, the default interest rate will be 16%. The company also issued a three-year warrant to purchase an aggregate of 600,000 shares at an exercise price of $1.25 per share. However, if the company closes an uplist offering on or before the 180th calendar date after November 5, 2021, then the exercise price shall be 125% of the offering price of a share in the uplist offering. If the adjusted exercise price as a result of the uplist offering is less than $1.25 per share, then the number of shares that the warrant is issuable shall be increased such that the exercise price, after taking into account the decrease in the exercise price, shall be equal to the exercise price prior to such adjustment. The company issued securities exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the ?1933 Act?) and Rule 506(b) promulgated by the United States Securities and Exchange Commission under the 1933 Act.