INFOBIRD CO., LTD ANNOUNCES THE SUSPENSION OF CAPITAL RAISING IN THE NEXT THREE MONTHS

HONG KONG, Feb. 16, 2024 /PRNewswire/ -- Infobird Co., Ltd (NASDAQ:IFBD) ("Infobird" or the "Company"), a software-as-a-service provider of AI-powered customer engagement solutions in China, today announced that there will be no financing plan in the next three months.

Our management team would appreciate for potential investors continued attention and interest to the Company, and we have raised some operating funds in previous financing activities will help us better expand our business. To better protect the interests of our small and medium shareholders, our management team decided not carry out any financing activities in the next three months and suspend previous financing activities conducted by the Company after speaking with and agreed by previous investors. We will continue to diligently develop the Company's business and seek new opportunities.

About Infobird Co., Ltd

Infobird, headquartered in Hong Kong, is a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions. For more information, visit Infobird's website at www.Infobird.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "plans", "will," "future," "expects," "believes," and "intends," or similar expressions, are intended to identify forward-looking statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events, results, conditions or performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date they are made. In evaluating such statements, investors and prospective investors should review carefully various risks and uncertainties and other matters identified in the Company's filings with the U.S. Securities and Exchange Commission. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

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SOURCE Infobird Co., Ltd