NEW
YORK, June 5, 2023 /PRNewswire/ -- Fresh2 Group
Ltd., formerly AnPac Bio-Medical Science Co., Ltd.
(NASDAQ: FRES), a company with operations in the United
States and China focused on early cancer screening
and detection and plans to enter into the operation of a
business-to-business e-commerce food platform focused on the sale
of Asian sourced food products, today announced that on
June 2, 2023, it completed a
private placement of 22,000,000 class A ordinary shares and
warrants to purchase 22,000,000 Class A ordinary shares for
US$4.4 million. The Company intends
to use the proceeds for general corporate purposes, including
working capital.
The Company's American Depositary Shares ("ADSs") are listed on
the NASDAQ Capital Market and each ADS represents 20 Class A
ordinary shares. The purchase price was $0.20 per share ($4.00 per ADS). The warrants have an exercise
price of $4.20 per ADS and are
exercisable within two years of the date of issuance. There is no
established trading market for the warrants.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, securities in the United States or any other jurisdiction.
Any securities described in this announcement have not been
registered under the US Securities Act of 1933 (the "Securities
Act") and may not be offered or sold except in transactions
registered under the Securities Act or exempt from, or not subject
to, registration under the Securities Act and applicable state
securities laws.
About Fresh2 Group Limited
Fresh2 Group Limited is a biotechnology company focused on early
cancer screening and detection, with 155 issued patents as of
March 31, 2023. With two certified
clinical laboratories in China and
one CLIA and CAP accredited clinical laboratory in the United States, Fresh2 performs a suite of
cancer screening and detection tests, including CDA (Cancer
Differentiation Analysis), bio-chemical, immunological, and
genomics tests. The Company is entering the business-to-business
e-commerce food business with the formation of its wholly-owned
subsidiary Fresh2 Technology Inc and the acquisition of Fresh2
Ecommerce Inc.
For more information, please visit:
https://fresh2.co/investors.
For investor and media inquiries, please contact:
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-917-609-0333 (U.S.)
Email: tina.xiao@ascent-ir.com
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are made under the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995
and are relating to the Company's future financial and operating
performance. The Company has attempted to identify forward-looking
statements by terminologies including "believes," "estimates,"
"anticipates," "expects," "plans," "projects," "intends,"
"potential," "target," "aim," "predict," "outlook," "seek," "goal"
"objective," "assume," "contemplate," "continue," "positioned,"
"forecast," "likely," "may," "could," "might," "will," "should,"
"approximately" or other words that convey uncertainty of future
events or outcomes to identify these forward-looking statements.
These statements are based on current expectations, assumptions and
uncertainties involving judgments about, among other things, future
economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict
accurately and many of which are beyond the Company's control.
These statements also involve known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results to be materially different from those expressed or implied
by any forward-looking statement. Known and unknown risks,
uncertainties and other factors include, but are not limited to,
our ability to comply with Nasdaq Listing Rules including
maintaining our listing on the Nasdaq Capital Market, the
implementation of our business model and growth strategies; trends
and competition in the cancer screening and detection market; our
future business development, financial condition and results of
operations and our ability to obtain financing cost-effectively;
potential changes of government regulations; general economic and
business conditions in China and elsewhere; our ability
to hire and maintain key personnel; our relationship with our major
business partners and customers; and the duration of the
coronavirus outbreaks and their potential adverse impact on the
economic conditions and financial markets and our business and
financial performance, such as resulting from reduced commercial
activities due to quarantines and travel restrictions instituted
by China, the U.S. and many other countries around the world
to contain the spread of the virus. A number of these risks along
with additional discussion of forward-looking statements, are set
forth in the Company's Annual Report on Form 20-F and other reports
filed with the Securities and Exchange Commission. Because of these
and other risks, uncertainties and assumptions, undue reliance
should not be placed on these forward-looking statements. In
addition, these statements speak only as of the date of this press
release and, except as may be required by law, the Company
undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
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SOURCE Fresh2 Group Limited