Lakeshore Acquisition I Corp. Announces the Separate Trading of its Ordinary Shares and Warrants, Commencing July 22, 2021

SHANGHAI, July 12, 2021 /PRNewswire/ -- Lakeshore Acquisition I Corp. (the "Company") announced today that, commencing July 22, 2021, holders of the units sold in the Company's initial public offering completed on June 15, 2021 may elect to separately trade the ordinary shares of the Company and warrants included in such units on The Nasdaq Capital Market ("Nasdaq").

No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The ordinary shares and warrants that are separated will trade on Nasdaq under the symbols "LAAA" and "LAAAW," respectively. Those units not separated will continue to trade on Nasdaq under the symbol "LAAAU." Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the units into ordinary shares and warrants.

The units were initially offered by the Company in an underwritten offering. Craig-Hallum Capital Group LLC and Roth Capital Partners, LLC acted as joint book-running managers for the offering. A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on June 10, 2021. The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, telephone: 612-334-6300 or by email at [email protected]; or from Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attn: Prospectus Department, telephone: 800-678-9147, or by accessing the SEC's website, www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Lakeshore Acquisition I Corp.

Lakeshore Acquisition I Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined by the United States Private Securities Litigation Reform Act of 1995. Any such forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations such as material adverse events affecting the Company, the ability of Company to satisfy the conditions for completion of the business combination and those other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission (the "SEC"). Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

SOURCE Lakeshore Acquisition I Corp.