Mercurity Fintech Holding Inc. Announces Closing of $3.15 Million Private Investment in Public Equity Financing (PIPE)

Mercurity Fintech Holding Inc. (“The Company” or “MFH”), a digital fintech group powered by blockchain technology, today announced that it has closed the financing of Private Investment in Public Equity (“PIPE”) pursuant to the Securities Purchase Agreement (“SPA”) and warrant (each, a “Warrant” and collectively the “Warrants”) with certain non-US investors for gross proceeds of $3.15 million (the “Proceeds”). The net proceeds from the PIPE Financing are expected to be used to advance the Company’s business development activities for working capital and other general corporate purposes. Among other purposes, the Company intends to use a portion of the proceeds to increase its cryptocurrency consulting services in the United States, including obtaining a “BitLicense” from the New York State Department of Financial Services for digital currency-related activities, although the Company cannot offer any assurance that actually getting the “BitLicense” in the near future or at all. “We believe that only by developing our business in accordance with US laws and regulations will we be able to have sustainable and promising growth,” said company CEO Shi Qiu.

Pursuant to the SPA and warrants, the Company will issue a total of 2,423,076,922 units at a purchase price of $0.0013 per unit. Each unit shall consist of one ordinary share and three warrants, with each warrant entitling the investor to purchase one ordinary share at an exercise price of USD 1/180 per ordinary share subject to certain adjustments and conditions set forth therein. The subscription rights must have a term of three years from the date of issue. In connection with the completion of the PIPE offering, the company will issue 108,000,000 restricted common shares with a par value of $0.00001 per share to its financial advisor as compensation for the advisor’s business and financial advisory services.

The securities described above were sold in a directed placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration with the Securities and Exchange Commission (“SEC”) or an applicable exemption from such registration requirements . The securities were offered only to non-US investors in accordance with Regulation S.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the 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 illegal. prior to registration or qualification under the securities laws of such state or jurisdiction.