Genetics Generation Advancement : The Board of Directors resolved today the private placement proposals to be submitted to the coming shareholders meeting for decision

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Provided by: Genetics Generation Advancement Corp.(GGA Cor
SEQ_NO	2	Date of announcement	2022/03/17	Time of announcement	20:56:50
Subject	The Board of Directors resolved today the private placement proposals to be submitted to the coming shareholders meeting for decision
Date of events	2022/03/17	To which item it meets	paragraph 11
Statement	1.Date of the board of directors resolution:2022/03/17 2.Types of securities privately placed:Common Shares 3.Counterparties for private placement and their relationship with the Company: The Company will select the specified subscribers in accordance with Article 43-6 of Securities and Exchange Act. If a strategic investor is targeted,only those individual and/or legal entities which may help the Company in developing products and enlarging market shares. 4.Number of shares or bonds privately placed: Not exceed 10 million common shares 5.Amount limit of the private placement: Not exceed 10 million common shares 6.Pricing basis of private placement and its reasonableness: (1)The price of the private placement shares shall be no less than 80 percent of the higher of the following: A.The average closing price of the Company's common shares for one, three,or five business days immediately preceding its price determination date,and adjusted by the applicable stock dividends, cash dividends and/or capital reduction. B.The average closing price of the Company's common shares for the thirty business days immediately preceding its price determination date, and adjusted by the applicable stock dividends, cash dividends, and/or capital reduction. (2)It is hereby proposed to AGM to authorize the Board of Directors to determine the price based on the resolution of the AGM and then market conditions. Considering that the privately placed securities have a three-year transfer restriction as required by Securities and Exchange Act and that the price will be set by referring to the market price of common shares, the conversion price setting arrangement shall be reasonable. 7.Use of the funds raised in the private placement: For the Company's future business needs 8.Reasons for conducting non-public offering: In consideration of market conditions, fund raising efficiency, costs of the offering(s) as well as equity stabilizing, private placement may be adopted as a fund raising mechanizes. If the private placement is for the strategic investors, it is to maintain long-term relations with such strategic investors through the transfer restriction of shares subscribed. Also, the use of proceeds thereof shall be for the Company's business operation and/or development; and it shall be for the steadily operation of the Company as well as the interests of the shareholders. 9.Objections or qualified opinions from independent Board of Directors: None 10.Actual price determination date:Not applicable 11.Reference price:Not applicable 12.Actual private placement price, and conversion or subscription price:Not applicable 13.Rights and obligations of these new shares privately placed: Except for the transfer restriction as provided under Article 43-8 of Securities and Exchange Act, the rights and obligations of the privately placed common shares is the same as the outstanding common shares. 14.Reference date for any additional share exchange, stock swap, or subscription:Not applicable 15.Possible dilution of equity in case of any additional share exchange, stock swap, or subscription:Not applicable 16.For additional share exchange or subscription, possible influence of change in shareholding ratio of TPEx -listed common shares if all privately placed corporate bonds are converted and shares subscribed for (no.of TPEx -listed common shares (a), (a) / outstanding common shares):Not applicable 17.Please explain any countermeasures for lower circulation in shareholding if the aforesaid estimated no.of TPEx -listed common shares does not reach 5 million and the ratio does not reach 25%:Not applicable 18.Any other matters that need to be specified: Should any revision to major matters regarding common stocks through private placement be made due to a competent authority or a change of the objective circumstance, excluding the price etermination ratio, but including the issuance terms and conditions, the issuance price, the issuance shares, the total raising capital, the project items and progress, the expected use of funds, the expected efficacy and any other related matters, it shall be fully authorized to the Board of Directors to deal with.