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First Growth completes $250,000 private placement, names Wooldridge CFO

FIRST GROWTH ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT AND APPOINTMENT OF CHIEF FINANCIAL OFFICER

First Growth Holdings Ltd. has closed its previously announced non-brokered private placement by issuing five million common shares at a price of five cents per common share for gross proceeds of $250,000. The company intends to use the net proceeds from the private placement for working capital purposes. The securities were issued subject to a four-month resale restriction.

The company also announces that its board of directors appointed Stuart Wooldridge as chief financial officer of the company. Han Liang Pan, chairman of the board of directors, stated: "We are pleased to welcome Mr. Wooldridge as our chief financial officer. Our executive leadership team is now more complete and experienced with Mr. Wooldridge joining us as chief financial officer, which follows the recent appointments of Gong (Michael) Chen as chief executive officer and Mr. Cainian Tan as an independent director."

First Growth is a Canadian-based company that identifies and develops strong brands in the Canadian and international markets. Strong brands have a global reach in today's modern world with the rapid adoption of social media and advancement in technology. First Growth recognizes the potential for certain brands to penetrate international markets and will be focused on developing each one of its brands to its fullest potential..