Yoshiharu enters financing commitments with investors for $1.65M

Yoshiharu (YOSH) Global entered into additional financing commitments with certain investors for $1.65M and, as a result of such financing transactions, as of the date hereof, the Company believes that it has regained compliance with the stockholders’ equity requirement for continued listing on Nasdaq. Yoshiharu entered into additional securities subscription agreements with certain investors for an aggregate of 660,000 warrants for a purchase price of $1,650,000. In addition, the Company entered into agreements with certain creditors to convert $2.5M of existing debt obligations, further increasing stockholders’ equity, and improving the Company’s overall financial position by reducing total debt, principal and interest payments, and lowering near-term cash needs. As part of the debt conversion, a loan in the amount of $1,100,000 with BS1Fund has been cancelled in full in exchange for the issuance of 220,000 warrants for class A common stocks at an exercise price of $0.01 per warrant, and 220,000 warrants for class B common stocks at an exercise price of $0.01 per warrant. A loan with Golden Bridge for an amount of $700,000 has been cancelled in full in exchange for the issuance of 280,000 warrants for class A common stocks at an exercise price of $0.01 per warrant. A loan in the amount of $700,000 with President, CEO and Chairman of the Board James Chae has been cancelled in full in exchange for the issuance of 280,000 warrants for class A common stocks at an exercise price of $0.01 per warrant.