BGRIMM Technology Co., Ltd. announced a private placement of common shares on November 16, 2021. The transaction will include participation from more than qualified investors including mining and metallurgical groups and returning investor BGRIMM Technology Group Co., Ltd. for not exceeding CNY 23,000,000 and the total amount of supporting funds raised shall not exceed 100% of the transaction price of the purchase of assets by issuing shares in the transaction. The number of issued shares shall not exceed 30% of the total share capital of the listed company before the transaction.

The base date for the pricing is the first day of the issuance period of the non-public offering of shares, and the issuance price shall not be lower than 80% of the average stock price of the company's shares on the 20 trading days prior to the first day of the issuance period. The transaction was approved by the seventh meeting of the seventh board of supervisors of the company and is subject to company's shareholders approval. The shares subscribed by BGRIMM Technology Group Co., Ltd. shall not be transferred within 36 months and shares subscribed by others shall not be transferred within 6 months from the date of issuance.