Changzhou Almaden Co., Ltd. announced a private placement of common shares for gross proceeds of not more than CNY 1,840 million on June 27, 2022. The transaction will include participation from no more than 35 qualified specific investors. The number of shares to be issued in this transaction does not exceed 30% of the total share capital of the company before this transaction.

The transaction has been approved at the 19th and 24th meetings of the fourth board of directors, 15th and 19th meetings of the 4th supervisory committee, and is subject to the approval by the general meeting of shareholders and China Securities Regulatory Commission. The shares issued are subjected to 6 months holding period.