Fresh2 Group (NASDAQ: FRES), formerly AnPac Bio-Medical Science Co., is a company with operations in the United States and China focused on early cancer screening and detection with plans to enter into the operation of a business-to-business e-commerce food platform focused on the sale of Asian-sourced food products. The company today announced that on June 2, 2023, it completed a private placement of 22,000,000 Class A ordinary shares and warrants to purchase 22,000,000 Class A ordinary shares for $4.4 million. Fresh2 Group intends to use the proceeds for general corporate purposes, including working capital. The company’s American Depositary Shares (“ADSs”) are listed on the NASDAQ Capital Market, with each ADS representing 20 Class A ordinary shares. The purchase price was $0.20 per share ($4.00 per ADS). The warrants have an exercise price of $4.20 per ADS and are exercisable within two years of the date of issuance. There is no established trading market for the warrants.

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About Fresh2 Group Limited

Fresh2 Group is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of March 31, 2023. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory in the United States, Fresh2 performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological and genomics tests. The company is entering the business-to-business e-commerce food business with the formation of its wholly-owned subsidiary Fresh2 Technology Inc. and the acquisition of Fresh2 Ecommerce Inc. For more information, visit https://fresh2.co/investors.

NOTE TO INVESTORS: The latest news and updates relating to FRES are available in the company’s newsroom at https://ibn.fm/FRES

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