Meiwu Technology Company Limited announced that it has entered into a securities purchase agreement with three unaffiliated investors to issue a convertible note for the gross proceeds of $1,000,000 on May 17, 2024. Each of the Notes bears interest at a rate of 10% per annum compounding daily. All outstanding principal and accrued interest on the Notes will become due and payable eighteen months after the issuance date.

Each of the Note includes an original issue discount that equals 10% of the purchase price. The Company may prepay all or a portion of the Notes at any time by paying 120% of the outstanding balance elected for pre-payment. Each of the Investor can convert his or her Note at any time after the six-month anniversary of the issuance date at a per share conversion price that is equal to the lower of $0.50 or 80% of the lowest daily volume-weighted average price of the Company?s ordinary shares, no par value.

The Company expects to issue the Notes and close this Offering on or prior to May 31, 2024. The issuance of the Notes and the Ordinary Shares underlying the Notes will be exempt from the registration requirements of the Securities Act, pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D.