Fellazo Inc. Receives Notice from Nasdaq

NEW YORK, NY, Dec. 18, 2019 (GLOBE NEWSWIRE) -- Fellazo Inc. (the “Company”)
announced today that, on December 13, 2019, the Company received a notice from
the Listing Qualification Staff (the “Staff”) of The Nasdaq Stock Market LLC
(“Nasdaq”) stating that, based upon its review of the Company’s filings with
the Securities and Exchange Commission (“SEC”) and the materials submitted by
the Company to Nasdaq, the Staff had determined to (i) deny the Company’s
extension request through May 18, 2020 to evidence compliance with Nasdaq
Listing Rule 5250(c)(1) due to the Company’s failure to timely file its
Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2019
(“Form 10-Q”), and (ii) delist the Company’s securities from Nasdaq for its
failure to (a) timely file its Form 10-Q as required by Nasdaq Listing Rule
5250(c)(1) and (b) disclose certain information as required by Listing Rule
5250(b)(1), concerning certain unauthorized related party transactions as
described in the Company’s Current Report on Form 8-K filed with the SEC on
December 18, 2019, none of which transactions involved the funds the Company
deposited in its trust account. Therefore, the Company’s securities may be
delisted from Nasdaq and the trading of the Company’s securities may be
suspended at the opening of business on December 23, 2019 unless the Company
timely requests a hearing before a Nasdaq Hearings Panel (“Panel”). If the
trading of the Company’s securities is suspended, the Company’s securities
will cease to be quoted on Nasdaq and may be traded on the over the counter
market.

The Company intends to appeal Staff’s determination. The request for a hearing
will  automatically  stay  the  suspension  and  delisting  of  the  Company’s 
securities through  January 6,  2020. In  connection with  the request  for  a 
hearing, the  Company also  intends to  request a  stay of  the suspension  of 
trading and delisting of  the Company’s securities  pending the completion  of 
the hearing  process and  the expiration  of any  additional extension  period 
granted by the Panel following the hearing. However, there can be no assurance
that such a stay will  be granted or that the  Company will be able to  regain 
compliance with all applicable requirements for continued listing.

About Fellazo Inc.

Fellazo Inc. is  a newly incorporated  blank check company  incorporated as  a 
Cayman Islands exempted company and incorporated for the purpose of  effecting 
a merger, share exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. Although we are  not 
limited to  a  particular  industry  or  geographic  region  for  purposes  of 
consummating an initial business combination, we intend to focus on businesses
in the health food and supplement sector that have their primary operations in
Asia.

Forward-Looking Statements

Statements contained in this press release that are not historical fact may be
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933  and Section  21E of  the Securities  Exchange Act  of 1934.  Such 
forward-looking statements may  relate to, among  other things, the  Company’s 
ability to  regain  and  maintain compliance  with  Nasdaq  continued  listing 
requirements. Such forward-looking statements do not constitute guarantees  of 
future performance and are  subject to a variety  of risks and  uncertainties. 
Additional factors that could cause  actual results to differ materially  from 
those projected or suggested in  any forward-looking statements are  contained 
in the Company’s filings with the SEC, including those factors discussed under
the caption  ''Risk  Factors'' in  such  filings.  Copies of  such  filings  are 
available on  the SEC's  website,.  The Company  undertakes no  obligation  to 
update these  statements for  revisions  or changes  after  the date  of  this 
release, except as required by law.