HONG KONG, Dec. 8, 2021 /PRNewswire/ -- Oriental
Culture Holding LTD. ("OCG" or the "Company") (NASDAQ: OCG), a
leading online provider of collectibles and artwork e-commerce
services, today announced it has entered into Securities Purchase
Agreements ("Agreements") with two investors ("Investors") on
December 7, 2021, pursuant to which
the Company agreed to sell to the Investors in private placements
of 600,000 ordinary shares (the "Shares") of the Company, par value
$0.00005 per share, at a purchase
price of $5.00 per share for an
aggregate offering price of $3,000,000 (the "Private Placements"). In
connection with offering, the Company has also agreed to issue the
warrants to the Investors to purchase up to an aggregate of 600,000
ordinary shares at an exercise price of $6.00 per share (the "Warrants"). The Warrants
have a term of one year and are exercisable by the holder at any
time after the date of issuance. The Private Placements will be
completed pursuant to the exemption from registration provided by
Regulation S promulgated under the Securities Act of 1933, as
amended.
About Oriental Culture Holding LTD
Oriental Culture Holding LTD is an online provider of
collectibles and artwork e-commerce services, which allow
collectors, artists, art dealers and owners to access an art and
collectible trading market with a wider range of collectible and
artwork investors. Through its subsidiaries in Hong Kong, the Company provides trading
facilitation for individual and institutional customers of all
kinds of collectibles, artwork and certain commodities on its
online platforms, as well as online and offline integrated
marketing, storage and technical maintenance service to customers
in China. For more information
about the Company, please visit: www.ocgroup.hk.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the Company's
future business development; financial condition and results of
operations; product and service demand and acceptance; reputation
and brand; the impact of competition and pricing; changes in
technology; government regulations; fluctuations in general
economic and business conditions in China and assumptions underlying or related to
any of the foregoing and other risks contained in reports filed by
the Company with the SEC. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
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SOURCE Oriental Culture Holding LTD.