Baotou Feida Rare Earth Co., Ltd. announced that it expects to receive CNY 90 million in funding from China Northern Rare Earth High-Tech Co.,Ltd and other investors

Baotou Feida Rare Earth Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 90,000,000 on March 26, 2021. The transaction will include participation from existing investors China Northern Rare Earth (Group) High-Tech Co.,Ltd (SHSE:600111) for CNY 30,600,000, Wang Liping and Zhang Linjing. The transaction has been approved at twenty-sixth meeting of the company's seventh board of directors and doesnot require require shareholders approval.