BEIJING, May 15, 2020 /PRNewswire/ -- On May 12, 2020, Golden Bull Limited (Nasdaq: DNJR)
received a written notification from the Nasdaq Stock Market
Listing Qualifications Staff indicating that the Company had
regained compliance with the $1.00
minimum closing bid price requirement for continued listing on the
Nasdaq Stock Market pursuant to Nasdaq Listing Rule 5550(a)(2) and
the matter is now closed. The closing bid price of the Company's
common stock has been at $1.00 per
share or greater for at least 20 consecutive business days.
On May 8, 2020, the Company
completed the sale of 6,500,000 share of common stock at
$0.40 per share for gross proceeds of
$2,600,000.The offering was made
pursuant to a Securities Purchase Agreement ("SPA") dated as of
October 30, 2019, a copy of which
form was filed as an exhibit to the Company's Form 6-K filed on
October 31,2019. The offering was
halted during the period of time of the Nasdaq trading
suspension, as well as the effects of COVID-19 in China. The sale was made to eight (8)
unaffiliated investors. Each investor signed a SPA which contained
non-U.S. Person Representations pursuant to Regulation S
under the Securities Act of 1933, as amended (the "Act"). There
were no underwriters or placement agents involved in the
transaction. Exemption from registration is claimed under Rule 903
of Regulation S under the Act based upon the representations and
warranties in the SPA.
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SOURCE Golden Bull Limited