Wetrade Group Inc. Announces Entry of Securities Purchase Agreements

WeTrade Group a global diversified "software as a service" ("SaaS") technology service provider committed to providing technical support and digital transformation tools for enterprises across multiple industries, announced that it has entered into those certain securities purchase agreements with certain accredited investors for the sale and issuance of a new series of senior secured convertible notes in the original principal amount of $18,333,333.33 The net proceeds, after original issue discount will total $16.5 million. The transaction has not been closed as of the date hereof. Provided no Event of Default (as defined in the Notes) has occurred, the Notes will accrue interest at an interest rate of 5% per annum, and the Company will be required to pay installment amounts, or at its option redeem such amounts under the Notes each month commencing on the last trading day of the calendar month in which the control account trigger date occurs, and thereafter, the last trading day of each calendar month until the maturity date of eighteen months from issuance, at which time all outstanding amounts remaining, if any, will be due and payable in full. At the Company's option, each redemption payment can be made in cash or stock at a discount to the then-current closing bid price at the time of the redemption.