Antelope Enterprise Announces Closing of $1.3 Million Registered Direct Offering and Private Placement

CHENGDU, China, Feb. 26, 2024 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the "Company"), which operates Kylin Cloud, a livestreaming ecommerce business in China with access to 800,000+ anchors and influencers, announced today that it has closed an offering of $1.3 million of its Class A ordinary shares, no par value each (the "Ordinary Shares") in a registered direct offering and a concurrent private placement of warrants to purchase Ordinary Shares (jointly, the "Offering"). The Company entered into a securities purchase agreement with two non-U.S. investors on February 23, 2024 for this Offering for which the purchase price is $1.00. The warrants are immediately exercisable at an exercise price of $1.10 per share subject to certain adjustments, and expire on the fifth anniversary of its issuance date.

The gross proceeds from the registered direct offering and concurrent private placement are $1.3 million before deducting offering expenses. The Company plans to use the proceeds from this offering for working capital and general corporate purposes.

The Ordinary Shares were offered pursuant to a prospectus supplement to the base prospectus included in the shelf registration statement on Form F-3 (File No. 333-260958), which was declared effective by the Securities and Exchange Commission ("SEC") on July 15, 2022. The final prospectus supplement related to the offering has been filed with the SEC on February 23, 2024 and may be obtained free of charge by visiting the SEC's website at www.sec.gov. The warrants issued in the concurrent private placement and shares issuable upon exercise of such warrants are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation S promulgated thereunder and have not been registered under the Act or applicable state securities laws. 

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 ("Kylin Cloud"), which operates a livestreaming ecommerce business in China with access to 800,000+ hosts and influencers. For more information, please visit our website at http://www.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 technology sector continuing to exhibit sound long-term fundamentals, and our ability to grow our business management, information system consulting, and online social commerce and live streaming businesses. 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, 2022 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.