ReTo Eco-Solutions (RETO) Announces 2M Share Offering at $3.30/sh

ReTo Eco-Solutions, Inc. (Nasdaq: RETO) today announced that it has entered into a securities purchase agreement, dated as of May 18, 2023 (the "Purchase Agreement") with certain purchasers (collectively, the "Purchasers") for the sale of an aggregate of 2,000,000 common shares, par value US$0.01 per share, of the Company (the "Shares"), at a purchase price of US$3.30 per Share, or an aggregate purchase price of US$6,600,000 in a registered direct offering (the "Offering").

The Shares are offered by means of the Company's registration statement on Form F-3 (File No. 333-267101), which was initially filed with the Securities and Exchange Commission (the "SEC") on August 26, 2022, as amended and declared effective on December 9, 2022, the accompanying base prospectus, dated December 6, 2022, and a prospectus supplement, which the Company expects to file with the SEC on May 19, 2023. Electronic copies of the prospectus supplement and the accompanying base prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov and may also be obtained by contacting Angela Hu, at the Company, using her contact information at the end of this press release.

This Offering is expected to close on or about May 19, 2023, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the Offering to fund the growth of its business, primarily working capital, and for general corporate purposes, as well as to acquire or invest in technologies, products and/or businesses that it believes will enhance its value.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of these Company securities, nor shall there be any sale of these Company securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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