Mercurity Fintech Holding Inc. Announces Updates to Holders of ADRs Regarding Termination of ADR Facility

New York, Jan. 27, 2023 (GLOBE NEWSWIRE) — Mercurity Fintech Holding Inc. (the “Company,” “we,” “us,” “our company,” or “MFH”) (Nasdaq:MFH), a digital fintech group powered by blockchain technology, announced today that the Board of Directors of the Company (the “Board”) approved to reverse the decision on the ADR Ratio Change (as defined below) and maintain the current ADR to ordinary share ratio at 1-to-360 until the cancellation of the ADR facility. Previously, the Board approved the proposals of the share consolidation to the authorized share capital (the “Share Consolidation”) at a ratio of one (1)-for-four hundred (400), with the par value of each ordinary share changed to US$0.004 per ordinary share, a mandatory exchange (the “Mandatory Exchange”) of all the ADRs to ordinary shares at the current ADR exchange ratio, and in connection therewith the Company will simultaneously change the ADR to ordinary share ratio from one (1)-to-three hundred and sixty (360) to one (1)-to-one (1) (the “ADR Ratio Change”). Today, the Board approved to reverse the decision on the ADR Ratio Change because such change will not be necessary for the Company’s efforts on the termination of the ADR facility and Share Consolidation.

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