Luokung Announces Issuing 5.5 Million Shares to Obtain $220 Million Strategic Investment

BEIJING, March 27, 2023 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung," "we," "our" or the "Company"), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services ("LBS") in China, today announced that it has signed a shares subscription agreement with a strategic investor CHINA ORIENT SMART ECOTECH INVESTMENT GROUP LIMITED ("COIG"), pursuant to which the Company agreed to issue a total of 5,469,019 restricted ordinary shares for an aggregate of USD220 million of strategic investment.