 China Jo-Jo Drugstores, Inc. Nasdaq: CJJD Jo-Jo Drugstores or the Company, a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that it has entered into definitive agreements with several institutional investors providing for the issuance of 5,000,004 shares of common stock, at a purchase price of 2.00 per share, in a registered direct offering for aggregate gross proceeds of approximately 10 million. Jo-Jo Drugstores also agreed to issue to the investors unregistered warrants to purchase up to 3,750,003 shares of common stock. The closing of the sale of the securities is expected to occur on or about June 3, 2020, subject to satisfaction of customary closing conditions. 