Gifore Agricultural Science & Technology Service Co., Ltd. (SZSE:300022) announced that it has entered into a share subscription agreement with the investor for a private placement of 100,000,000 shares to be issued at an issue price of CNY 3.35 per share for gross proceeds of CNY 335,000,000 on May 6, 2020. The transaction will include participation from Chengdu Economic&Technological Development Zone Construction&Development Co.,Ltd. The securities to be issued in the transaction are subject to a 18 month hold period. The transaction has been approved by the shareholders of the company at the 53rd meeting of the 4th Board of Directors of the company. The transaction is subject to approval from State-owned Assets Supervision, Administration and Financial Work Bureau of Chengdu Economic and Technological Development Zone, State Administration for Market Regulation, the China Securities Regulatory Commission, and company's shareholders.