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Treasure Global Inc.

10/11/2024 | Press release | Distributed by Public on 10/11/2024 15:20

Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

Securities Purchase Agreement

On October 10, 2024, Treasure Global Inc (the "Company") entered into a Share Purchase Agreement (the "Purchase Agreement") with Alumni Capital LP ("Alumni Capital"), a Delaware limited partnership. Pursuant to the Purchase Agreement, the Company has the right, but not the obligation to cause Alumni Capital to purchase up to $6,000,000 the Company's common stock, par value $0.00001 (the "Commitment Amount"), at the Purchase Price (defined below) during the period beginning on the execution date of the Purchase Agreement and ending on the earlier of (i) the date on which Alumni Capital has purchased $6,000,000 of the Company's common stock pursuant to the Purchase Agreement or (ii) December 31, 2025.

Pursuant to the Purchase Agreement, the "Purchase Price" means nighty-five percent (95%) of the lowest daily VWAP of the common stock five business days prior to the Closing of a Purchase Notice. No Purchase Notice will be made without an effective registration statement and no Purchase Notice will be in an amount greater than $1,000,000.

The Purchase Agreement provides that the number of shares of common stock to be sold to Alumni Capital will not exceed the number of shares that, when aggregated together with all other shares of our common stock which Alumni Capital is deemed to beneficially own, would result in Alumni Capital owning more than 19.99% of the Company's outstanding common stock.

In consideration for Alumni Capital's execution and performance under the Purchase Agreement, the Company issued to Alumni Capital a purchase warrant dated October 10, 2024 for a term of three (3) years (the "Purchase Warrant t"), to purchase up to a number of common stock equal to ten percent (10%) of the Commitment Amount divided by the exercise price of the Purchase Warrant. The exercise price per share of the Purchase Warrant will be calculated by dividing the $5,000,000 valuation by the total number of outstanding shares of common stock as of the Exercise Date.

Capitalized terms used herein and not otherwise defined are defined as set forth in the Purchase Agreement and the form of the Purchase Warrant. The description of the Purchase Agreement and Purchase Warrant contained in this Current Report on Form 8-K does not purport to be complete and is qualified by reference to the copy of the Purchase Warrant and Purchase Agreement filed as Exhibit 4.1 and Exhibit 10.1 to this Current Report on Form 8-K.

Service Partnership Agreement

On October 10, 2024, the Company entered into a service partnership agreement (the "Partnership Agreement") with Octagram Investment Limited ("OCTA"), a Malaysian company, to establish a strategic partnership pursuant to the terms and conditions set forth in this Partnership Agreement. Pursuant to the Partnership Agreement, OCTA shall design, develop and deliver mini-game modules to be integrated into the ZCity App, an E-Commerce platform owned by the Company. In addition, OCTA shall customize the mini-game modules based on the Company's detailed specification

Capitalized terms used herein and not otherwise defined are defined as set forth in the Partnership Agreement. The description of the Partnership Agreement contained in this Current Report on Form 8-K does not purport to be complete and is qualified by reference to the copy of the Partnership Agreement filed as Exhibit 10.2 to this Current Report on Form 8-K.