Golden Sun Education Group Lim

Shanghai, China, June 21, 2022 (GLOBE NEWSWIRE) — Golden Sun Education Group Limited (the “Company” or “Golden Sun”), a tutoring service provider in China, today announced the price of its public offering (the “Offering”) of 4,400,000 shares of Class A common stock at a public offering price of $4.00 per Class A common stock. The Class A common stock has been approved for listing on the Nasdaq Capital and is expected to begin trading on June 22, 2022 under the symbol “GSUN”.

The Company expects to receive aggregate gross proceeds of US$17,600,000 from the Offering, before subscription discounts and other related costs. In addition, the Company has granted the underwriter an option to purchase up to 660,000 additional Class A common shares at the public offering price, less underwriting discounts and commissions, within 45 days of closing. The offering is expected to close on or about June 24, 2022, subject to the satisfaction of customary closing conditions.

The proceeds of the Offering will be used for (i) the acquisition of tutoring centers for foreign languages ​​other than English for Gaokao, as well as schools and tutoring centers abroad; (ii) research and development of non-English foreign language related courses for Gaokao, and expansion of non-English foreign language operation center for Gaokao; (iii) acquisition of tutoring centers for language training; (iv) recruitment and retention of teachers and supervisory staff; and (v) working capital and other general business needs.

The Offer is made on the basis of a firm commitment. Network 1 Financial Securities, Inc. is acting as the sole underwriter and bookrunner for the Offering. Hunter Taubman Fischer & Li LLC is acting as US counsel to the Company, and Sichenzia Ross Ference LLP is acting as US counsel to Network 1 Financial Securities, Inc. in connection with the Offer.

A registration statement on Form F-1 relating to the offering has been filed with the United States Securities and Exchange Commission (“SEC”) (File Number: 333-255891) and has been declared effective by the SEC on June 21, 2022. The offering is being made only by means of a prospectus, forming part of the registration statement. Copies of the prospectus relating to the Offer may be obtained from Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701, Attention Karen (Huiyun) Mu, by email at [email protected], or by calling +1 (800)-886-7007. In addition, copies of the prospectus relating to the Offer may be obtained through the SEC’s website at www.sec.gov.

Before investing, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities of the Company, and there will be no offer, solicitation or sale of any of the securities of the Company in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Golden Sun Education Group Limited

Founded in 1997 and headquartered in Shanghai, China, Golden Sun Education Group Limited is a tutoring service provider in China with over twenty years of experience in providing educational services focused on developing everyone’s strengths and potential. of its students, and the promotion of lifelong skills and an interest in learning. Golden Sun has three tutoring centers, an education company that partners with high schools to offer language lessons to its students, and a logistics company that provides logistics and consulting services. Golden Sun’s tutoring centers focus on different target groups of students by offering different tutoring programs. Regarding foreign language courses, Golden Sun offers English, Spanish, German, French and Japanese courses for students who intend to study abroad, people with looking for a job requiring a certain command of these languages ​​and companies or organizations whose workers must have a certain command of these languages. these languages. For more information, visit the Company’s website at ir.jtyjyjt.com.

Forward-looking statements

Certain the statements contained in this announcement are forward-looking statements, including, but not limited to, the Offer proposed by the Company. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projectinformation about future events that the Company to believes can affect his financial condition, results of operations, business strategy and financial needs, including the expectation that the Offer will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “approaches”, “evaluates”, “believes”, “hopes”, “expects”, “anticipates”, “estimates”, “projects”, “intends”, “plans”, ” will”, “would”, “should”, “could”, “could” or similar expressions. The company undertakes no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except to the extent Required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to review other factors that may affect its future results in the company’s registration statement and other filings with the SEC.

For more information please contact:

Golden Sun Education Group Limited

Investor Relations Department
E-mail: [email protected]

Ascent Investor Relations LLC
Tina Xiao
President
Telephone: +1 917-609-0333
E-mail: [email protected]

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