GCL Technology Holdings Limited announced a private placement at best effort basis of up to 2,275,000,000 common shares at HKD 0.138 per share for gross proceeds of HKD 313.95 million on January 14, 2021. The company has signed a purchase agreement in the transaction. The company will incur issue expense in respect to the transaction for all related costs, fees, expenses and commission of HKD 3.95 million.