IT Tech Packaging, Inc. Announces Effective Reverse Stock Split

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BAODING, China, July 7, 2022 /PRNewswire/ — IT Tech Packaging, Inc. (NYSE American: ITP) (“IT Tech Packaging” or the “Company”), a leading manufacturer and distributor of diversified paper products in north chinaannounced today that its 10-for-1 reverse stock split (the “Reverse Stock Split”) previously announced by the Company has been approved by the Board of Directors June 27, 2022 Shall apply from 5:00 p.m. EST today on July 7, 2022 (the “Effective Date”) and will be reflected in the Marketplace at the Market Open July 8, 2022.

The reverse stock split, if applicable Nevada Act (Nevada Revised Statutes (“NRS”), Section 78.207), both the (a) authorized common stock of the Company; and (b) issued and outstanding common shares. The reverse stock split was accomplished by the Company filing a certificate of change (the “Certificate”) under NRS Section 78.209 with the US Secretary of State State of Nevada on the Effective Date. As a result of the filing of the Certificate, the number of shares in the Company’s authorized share capital was reduced from 500,000,000 shares to 50,000,000 shares and the issued and outstanding number of the Company’s common shares were reduced accordingly.

On the Effective Date, the total number of common shares held by each shareholder of the Company will be automatically converted into the number of common shares equal to (i) the number of issued and outstanding common shares held by that shareholder immediately prior to the Reverse Stock Split, divided by ( ii) 10, such resulting number of shares being rounded up to the nearest whole share. No fractional shares will be issued in connection with the reverse stock split and no cash or other consideration will be paid in connection with fractional shares that would otherwise have resulted from the reverse stock split.

Shareholders who hold their shares electronically with brokerage firms need not take any action as the effect of the reverse stock split will be automatically reflected in their brokerage accounts. Shareholders holding paper certificates may (but are not required to) mail the certificates to the Company’s transfer and registrar agent, Empire Stock Transfer. Empire Stock Transfer will issue a new share certificate reflecting the reverse stock split to each requesting shareholder at the address below.

Empire Stock Transfer
1859 Whitney Mesa Dr.,
Henderson, NV 89014

About IT Tech Packaging, Inc.

Founded in 1996, IT Tech Packaging, Inc. is a leading manufacturer and distributor of diversified paper products and disposable face masks in north china. Using recycled paper as its main raw material (except for its tissue paper products), ITP manufactures and sells three categories of paper products: containerboard, offset printing paper and tissue paper products. With production sites in Baoding and Xingtai in north china Hebei provinceITP is strategically located near the Beijing and tianjin Region, home to a growing base of industrial and manufacturing activities and one of the largest markets for the consumption of paper products in the country. Since then, ITP has been listed on the NYSE American December 2009. For more information, please visit: http://www.itpackaging.cn/.

Forward-Looking Statement

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements reflect our current expectations, opinions, beliefs or forecasts of future events and performance. A statement characterized by the use of forward-looking words, including “will,” “may,” “expects,” “projects,” “anticipates,” “plans,” “believes,” “estimates,” “should,” and certainly the other statements above may be deemed to be forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including market and other conditions. More detailed information about the company and the risk factors that may affect the implementation of any forward-looking statement is contained in the company’s filings with the SEC. Investors and security holders are urged to peruse these documents free of charge at the SEC’s website at http://www.sec.gov. The Company undertakes no obligation to update any such forward-looking statements after the date of this release to conform to actual results or any change in expectations, except as required by law.

For more information, please contact:

In the company
E-mail: [email protected]
Phone: +86 312 8698215

Investor Relations
Ascent Investor Relations LLC Ms. Tina Xiao
E-mail: [email protected]
Tel: +1-917-609-0333

SOURCE IT Tech Packaging, Inc.

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