Genufood Energy Enzymes Corp. announced that it entered in to subscription agreement and private placement to issue minimum 500,000,000 shares and maximum 1,000,000,000 shares at an purchase price of $0.001 per share for minimum gross proceeds of $500,000 and maximum gross proceeds of $1,000,000 on January 1, 2023. The company will issue common shares to accredited investors and non-U.S. persons.

The minimum investment amount accepted from single investor is up to 5,000,000 shares for gross proceeds not less than $5,000. The transaction has been approved by the board of directors of the company.