Business

Dogness International Secures $5 Million in Private Placement Transaction to Bolster Pet Product Line

PLANO, Texas, May 17, 2024 /PRNewswire/ -- Dogness (International) Corporation, a pioneer in the development and manufacturing of pet products, has successfully concluded a private placement transaction, resulting in gross proceeds of $5 million. This capital boost is attributed to the sale of 2,000,000 Class A common shares to select purchasers at a rate of $2.50 per share.

Investment Details

Earlier on May 9, 2024, Dogness entered into an agreement with specific non-U.S. investors for the sale of equity. The shares were transferred exempt from the Securities Act of 1933, based upon Regulation S which allows such transactions. Purchasers were made explicitly aware of the fact that the shares remain unregistered under the Securities Act, thereby limiting their right to sell or dispose of said shares unless they are registered or qualify for an exemption.

It is crucial to note that the aforementioned press release does not constitute an offer to sell or the solicitation of an offer to buy the shares. Such transactions can only be done in compliance with the stringent regulations of the Securities Act of 1933 and the securities laws of applicable states and jurisdictions.

A Synopsis of Dogness International Corporation

Founded in 2003, Dogness International Corporation has established itself on the principle that pets, such as dogs and cats, are valued members of the family. The company's comprehensive range includes smart products, hygiene solutions, health and wellness items, and leashes, all designed to streamline pet care and fortify the bond between pets and their guardians. Commanding a top position in the industry, Dogness prides itself on its seamlessly integrated supply chain and state-of-the-art research and development department, flaunting over 200 patents and pending patents. The global reach of Dogness' products extends through chain stores and distributors, offering pet families around the world top-notch pet products. Further information about Dogness can be found on their investor relations site at ir.dogness.com.

Looking Into the Future: Forward-Looking Statements

This press release should not be perceived as an attempt to buy or sell securities. It is strictly prohibited to make such offers without adhering to the updated Securities Act and the securities laws established by each state. The future growth projections outlined here are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995 and are subject to many risks and uncertainties that could cause a deviation from the anticipated outcomes.

Amongst these risks encompass the ongoing impact of the Covid-19 pandemic on client businesses and the disposable income of final consumers, challenges in raising capital, customer order fulfillment variance, the instability in earnings and foreign exchange rates, the company's growth management, and the ability to generate revenue from operations and assets in China and the United States. Additionally, the company faces risks associated with attracting and retaining top talent, potential dips in demand within key technology areas, the seamless completion and integration of possible acquisitions, and the unauthorized exploitation of intellectual property rights. Additional risks that could modify operating results have been extensively disclosed in filings with the United States Securities and Exchange Commission, which are publicly accessible at www.sec.gov.

Dogness may opt to make further written and verbal forward-looking statements, which would be included in the filings with the SEC and reports to shareholders. Please be aware that these forward-looking statements rely on current assumptions deemed reasonable on the date of the press release, and the company has no obligation to update such statements, unless mandated by law.

Investor and Media Relations Information

Dogness International encourages any investors and media representatives with inquiries to reach out for additional information. Contact can be made through:

Wealth Financial Services LLC Connie Kang, Partner Email: connie@wealthfinancialservices.com Tel: +86 1381 185 7742 (CN)

The support provided by Wealth Financial Services ensures that communications with investors and the media are clear and professionally handled, facilitating transparency and robust investor relations.

The Source of This Information

This press release is sourced directly from Dogness (International) Corporation, ensuring that all statements and facts presented here are accurate and up to date. The information provided reflects Dogness' commitments to transparency in its operations and communications with investors and the public.

Conclusion

To summarize, Dogness (International) Corporation has taken a significant step forward in strengthening its financial foundations through a successful private placement worth $5 million. The company's unwavering dedication to innovation and quality in the pet product industry, combined with its strategic investor relations, sets a positive precedent for its future endeavors and growth trajectory. It is a company that does not simply cater to a market, but endeavors to understand and serve the integral family dynamic that pets represent.

---

End of Article (For further information and inquiries, please visit the Dogness official website or the Securities and Exchange Commission public filings.)

• Note: Additional space reserved for potential word count increase through summary, conclusion or additional information from Dogness International Corporation updates or communication.