Happiness Biotech Announces $2.25 Million Private Placement In Support of Happy Buy

Happiness Biotech Group Limited, an innovative China-based nutraceutical and dietary supplements producer, announced that the Company has entered into certain securities purchase agreement with three non-U.S. investors, pursuant to which the Company agreed to sell 900,000 ordinary shares at a per share purchase price of $2.50. 

Happiness Biotech intends to use the gross proceeds in the development of Happy Buy's B2B e-Commerce business as well as for working capital and general corporate use.

"We are very happy to have these strategic investors who are confident in Happy Buy's business plans and development. In addition to the capital, these investors plans to bring other resources and business opportunities to Happy Buy. We believe that Happy Buy will witness growth after this financing," said Mr. Xuezhu Wang, CEO of the Company.

About Happiness Biotech Group Limited

Headquartered in Nanping, China, Happiness Biotech Group Limited is an innovative China-based nutraceutical and dietary supplements producer focused on the research, development, manufacturing and marketing of a variety of products made from Chinese herbal extracts and other ingredients. The Company's goal is to provide high-quality products to our consumers. Over the past 14 years, the Company has established a product portfolio consisting of 32 PRC National Medical Products Administration registered "Blue-Cap" SKUs of nutraceutical and dietary supplements products.