Golden Bull Limited Received Nasdaq Notification Letter Regarding Second Bid Price Compliance Period

BEIJING,March 27,2020 -- Golden Bull Limited (NASDAQ: DNJR) ("Golden Bull" or the "Company"),Received Nasdaq Notification Letter Regarding Second Bid Price Compliance Period. The Company is eligible for an additional 180 calendar day period,or until September 21,2020,to regain compliance.

On September 26,2019,the Company was notified that,based on the previous 30consecutive business days,the Company's listed security no longer met the minimum $1 bidprice per share requirement. Therefore,in accordance with Nasdaq Listing Rules (the "Rules"),theCompany was provided 180 calendar days,or until March 24,to regain compliance. The listed security had not regained compliance with the minimum $1 bid price per sharerequirement. However,Nasdaq has determined that the Company was eligible for an additional 180calendar day period,to regain compliance. The determination wasbased on the Company meeting the continued listing requirement for market value of publiclyheld shares and all other applicable requirements for initial listing on the Capital Market with theexception of the bid price requirement,and the Company's written notice of its intention to curethe deficiency during the second compliance period by effecting a reverse stock split,ifnecessary. If at any time during this additional time period the closing bid price of theCompany's security is at least $1 per share for a minimum of 10 consecutive business days,Nasdaqwill provide written confirmation of compliance and this matter will be closed.

If compliance cannot be demonstrated by September 21,Nasdaq will provide writtennotification that the Company's securities will be delisted. At that time,the Company mayappeal Nasdaq's determination to a Hearings Panel (the "Panel"). If the Companyappeals it will be asked to provide a plan to regain compliance to the Panel,and that historicallyPanels have generally viewed a near-term reverse stock split as the only definitive planacceptable to resolve a bid price deficiency.

In addition,an indicator will continue to be broadcast over Nasdaq's market data disseminationnetwork noting the Company's non-compliance. The indicator will be displayed with quotationinformation related to the Company's securities on Nasdaq.com,NasdaqTrader.com and by otherthird-party providers of market data information. Also,a list of all non-compliant Nasdaqcompanies and the reason(s) for such non-compliance is posted on Nasdaq website atlistingcenter.nasdaq.com. The Company will continue to be included in this list.

The Company intends to promptly evaluate options available to regain compliance,including,but not limited to,a reverse stock split if necessary. However,there can be no assurance that Company will be able to regain compliance with the applicable Nasdaq listing requirements.

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