 China Jo-Jo Drugstores, Inc. NASDAQ CM: CJJD the Company or China Jo-Jo, a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that it closed its previously announced registered direct offering with certain institutional investors for an aggregate of 5,000,004 shares of the common stock, at a purchase price of 2.00 per share, for aggregate gross proceeds of approximately 10 million to the Company. In a concurrent private placement, the Company issued to the same investors unregistered warrants to purchase up to an aggregate of 3,750,003 shares of the common stock at an exercise price of 2.60 per share. The warrants shall be exercisable six months following issuance and expire five and one-half years from the issuance date. 