HONG KONG, May 04, 2026 (GLOBE NEWSWIRE) -- 3 E Network Technology Group Limited (NASDAQ:MASK) (the "Company" or "3 E Network"), a business-to-business ("B2B") information technology ("IT") business solutions provider with the inspiration to become a next-generation AI infrastructure solutions provider, entered into a Securities Purchase Agreement (the "Purchase Agreement") with an institutional investor (the "Investor") on May 1, 2026.

Pursuant to the Purchase Agreement, the Company agreed to sell and issue (i) a senior secured 8% original issue discount convertible promissory note in the principal amount of up to $1,300,000 (the "Note") for aggregate gross proceeds of $1,196,000 (collectively, the "Subscription Amount"), and (ii) a Class A ordinary shares purchase warrant (the "Warrant") to purchase up to 265,198 Class A ordinary shares of the Company, par value $0.0025 per share (the "Shares"). The Note is convertible into Class A ordinary shares of the Company, par value $0.0025 per share (the "Shares"). The initial closing for aggregate gross proceeds of $920,000 and a principal amount of $1,000,000 of Note occurred on the same date (the "Closing"). The Purchase Agreement provides for a second closing of $300,000 in principal of Note for $276,000 in gross proceeds to occur upon effectiveness of the resale registration statement for the Shares underlying the Note, subject to certain additional terms and conditions. The Warrant is exercisable at any time on ...