INNER MONGOLIA YUAN XING ENERGY COMPANY LIMITED Inner Mongolia Boyuan Yingen Mining Co., Ltd announced that it has entered into an agreement with Inner Mongolia Yuan Xing Energy Co., Ltd and its shareholder's for private placement of common shares for gross proceeds of CNY 3,725,000,000 on December 22, 2021. Out of the total capital increase CNY 55,859,375 will be added to the registered capital and CNY 3,669,140,625 to the capital reserve. Within 30 working days after the effective date of this agreement, the company will pay CNY1 billion.
The remaining capital increase amount will be paid within 6 months after the completion of the registration modification. The transaction has been approved at the shareholder's meeting and is still subject to approval from its shareholder's meeting of the investor.
