ADOMANI Announces Subscriptions in Excess of Required Minimum for its Regulation A+ Offering and Makes Further Progress in Quest to Become First to List on NASDAQ through Equity Crowdfunding

LOS ANGELES, CA–(Marketwired – May 2, 2017) – Boustead Securities, LLC client ADOMANI, Inc. (NASDAQ: ADOM ), (“ADOM,” “Adomani,” “the Company,” “we” or “us”), a provider of advanced zero-emission electric and hybrid vehicles and replacement drivetrains, announced that within four days of Qualification by the SEC, it has received in escrow subscriptions totaling in excess of the $10.6 million minimum amount for its Regulation A+ Tier 2 offering (the “Offering”). The Offering is for a total of up to $25 million, including up to $3 million from certain of the Company’s stockholders.

“We continue to be excited about the launch of our offering and the fact that we have exceeded the minimum amount required,” said President and CEO Jim Reynolds of ADOMANI, Inc. “We look forward to its successful completion soon, which will enable us to aggressively execute our business plan.

Dan McClory, Head of Equity Capital Markets at Boustead Securities, Adomani’s Lead Underwriter, congratulated Adomani. “Exceeding the Minimum Offering Amount with deposits into escrow pending acceptance is an important accomplishment for Adomani, as it makes further progress on the way to becoming what we believe will be the first Reg A+ offering to trade on NASDAQ,” McClory stated.

The Company is offering a minimum of 2,120,000 common shares and a maximum of 4,400,000 common shares at an offering price of $5.00 per share. Any interested parties should read the Company’s Offering Statement on Form 1-A, including the financial statements and risk factors, and other reports the Company may file with the SEC, and after having done so, should contact the Company for more information.

About ADOMANI®

ADOMANI, Inc. is a provider of zero-emission electric and hybrid drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI® is also a provider of new zero-emission electric and hybrid vehicles focused on reducing the total cost of vehicle ownership and helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance. For more information, visit www.ADOMANIelectric.com.

About Boustead Securities, LLC

Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States and around the world, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. For more information, visit www.boustead1828.com

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities of the Company, including without limitation the common stock. Any such offer is made exclusively through the Company’s Offering Circular dated April 28, 2017, as the same may be amended or supplemented (the “Final Offering Circular”). The Final Offering Circular is available at www.flashfunders.com , https://www.sec.gov/cgi-bin/browse-edgar?company=adomani%2C+inc.&owner=exclude&action=getcompany , or may be obtained from Boustead Securities at +1 (949) 502-4409 or angela@bousted1828.com

Cautionary Statement Regarding Forward-Looking Statements

Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in ADOMANI’s reports filed with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “planned,” “expects,” “believes,” “strategy,” “opportunity,” “anticipates,” “outlook,” “designed,” and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, ADOMANI® undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.

For more information regarding this release, contact Investor Relations

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