Sharing Economy International Inc. announced that it has entered into a note purchase agreement to issue a convertible promissory note for gross proceeds of $58,333 on January 26, 2022. The transaction will include participation from returning investor, Pyram LC Architecture Limited. The note is convertible into shares at a price equal to 70% of the average closing prices for the company's common stock during the ten trading day period ending on the latest complete trading day prior to the conversion date.

The transaction is expected to close on or before July 25, 2022. The Company shall have the option, in its sole and absolute discretion, to repay the Outstanding Amount in full on or before the Conversion Date.