Crown F&B Co., Ltd. announced private placement of 199,000 common stock at a price of KRW 302,502.512563 for the gross proceeds of KRW 60,198,000,000 on October 22, 2020. The transaction will include participation from Kginicis Co.,Ltd (KOSDAQ:A035600) to retain its 100% stake in the company. The transaction was approved by the board of directors of Kginicis Co.,Ltd (KOSDAQ:A035600). The transaction is expected to close on October 26, 2020.