Brownie's Marine Group Inc (BWMG)

[ZNSTATED]

News:

As previously reported on March 7, 2019 Brownie’s Marine Group, Inc. (the “Company”) issued and sold to Mr. Charles Hyatt, an accredited investor, a unit of the securities of the Company, with the unit consisting of 50,000,000 shares of our common stock, par value $0.0001 per share, and an 18 month common stock purchase warrants to purchase 50,000,000 shares of our common stock exercisable at $0.01 per share (the “Warrant”). In February 2020 Mr. Hyatt exercised a portion of the Warrant representing 12,500,000 shares of our common stock. On April 2, 2020 Mr. Hyatt exercised an additional portion of the Warrant representing 10,000,000 shares of common stock. We received proceeds of $100,000 from this partial Warrant exercise. We did not pay any fees or commissions in connection with the exercise of a portion of the Warrant and we are using the proceeds for general working capital. The issuance of the shares of our common stock to Mr. Hyatt upon the partial exercise of the Warrant was exempt from registration under the Securities Act of 1933, as amended, in reliance on an exemption provided by Section 3(a)(9) of such act

Z