JINJIANG, China, Jan. 12,
2023 /PRNewswire/ -- Antelope Enterprise Holdings
Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the
"Company"), which operates KylinCloud, a leading social and
livestreaming ecommerce platform with 200,000+ anchors and
influencers, and a legacy ceramic tiles manufacturing business in
China, today announced that it
closed a private placement or PIPE (Private Investment in Public
Equity) financing with a select group of investors led by the
Company's CEO, Mr. Weilai ('Will') Zhang. The PIPE financing is for
the sale of 1,625,000 ordinary shares at a price per share of
$0.80, the closing price of its
ordinary shares on the Nasdaq Capital Market as of January 10, 2023. The gross proceeds of the
private placement are $1.3 million,
before deducting any fees or expenses.
The Company plans to use the net proceeds from the offering for
the expansion of the Company's social ecommerce business and for
general corporate purposes.
Will Zhang, CEO of Antelope
Enterprise, commented, "We believe that this private
placement, led by insiders including myself, will provide us with
the financial resources to further strengthen the capabilities of
our ecommerce subsidiary, KylinCloud, which is well positioned to
expand its footprint in the fast-growing social and livestreaming
ecommerce sector in China. Our
management team and board of directors are committed to
transforming the Company into a leading social ecommerce enterprise
and in doing so, creating long-term value for our
shareholders."
The securities being issued and sold in the private placement
have not been registered under the Securities Act of 1933, as
amended (the "Securities Act"), or any state's securities laws, and
are being issued and sold pursuant to an exemption from
registration provided for under the Securities Act. The
securities may not be offered or sold in the United States, except pursuant to an effective
registration statement or an applicable exemption from the
registration requirements of the Securities Act. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy any securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
About Antelope Enterprise Holdings Limited
Antelope Enterprise Holdings Limited holds a 51% ownership
position in Hainan Kylin Cloud Services Technology Co., Ltd
("KylinCloud"), which operates a leading social and live streaming
ecommerce platform with 200,000+ anchors and influencers. The
Company also operates a legacy ceramic tiles manufacturing business
in China.
For more information, please visit our website at
http://www.aehltd.com, or follow the Company on Twitter at
https://twitter.com/aehl_ltd. To receive the Company's public
announcements, please email investor@aehltd.com.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to our
beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors,
which may be beyond our control, and which may cause the actual
results, performance, capital, ownership or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. Forward-looking statements in this press release
include, without limitation, the continued stable macroeconomic
environment in the PRC, the PRC real estate, construction and
technology sectors continuing to exhibit sound long-term
fundamentals, our ability to bring additional ceramic tile
production capacity online going forward as our business improves,
our ceramic tile customers continuing to adjust to our product
price increases, our ability to sustain our average selling price
increases and to continue to build volume in the quarters ahead,
and whether our enhanced marketing efforts will help to produce
wider customer acceptance of the new price points; and our ability
to continue to grow our business management, information system
consulting, and online social commerce and live streaming business.
All statements other than statements of historical fact are
statements that could be forward-looking statements. You can
identify these forward-looking statements through our use of words
such as "may," "will," "anticipate," "assume," "should,"
"indicate," "would," "believe," "contemplate," "expect,"
"estimate," "continue," "plan," "point to," "project," "could,"
"intend," "target" and other similar words and expressions of the
future.
All written or oral forward-looking statements attributable
to us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 20-F for the
year ended December 31, 2021 and
otherwise in our SEC reports and filings. Such reports are
available upon request from the Company, or from the Securities and
Exchange Commission, including through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not undertake
to update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
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SOURCE Antelope Enterprise Holdings Ltd.