Dogness Announces $5M Private Placement Of 2M Shares Of Common Stock At A Price Of $2.50 Per Share

Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ:DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced that it entered into a private placement transaction (the "Private Placement") for US$5.0 million in gross proceeds, from the sale of 2,000,000 of the Company's Class A common shares (the "Shares") for US$2.50 per Share.

The Shares are being sold to certain non-U.S. purchasers (the "Purchasers") in a transaction exempt from registration under the Securities Act of 1933, as amended, in reliance on Regulation S thereunder. Each of the Purchasers understands that the Shares have not been registered under the Securities Act and such Purchasers may not sell or otherwise dispose of the Shares without registration under the Securities Act and under applicable state securities or "Blue Sky" laws, or pursuant to an exemption therefrom. Closing of the Private Placement is subject to customary closing conditions.