Raffles Financial Group Limited (CNSX:RICH) agreed to acquire Bruce Ventures Pte. Ltd. And Dayou Investment Ltd from Mr. Bai Wenyin and Mr. Liu Dianke for SGD 200 on December 21, 2021. It shall complete the acquisition of BV and DI for the purchase price of SGD100.00 (CAD 93.71) each. Subsequent to the closing of the purchase of BV and DI, the Vendors of BV and DI shall be respectively entitled to a performance-based payment equal to ten (10) times BV and DI's audited net profit after tax for the financial periods ending December 31, 2022, payable in the Company's shares valued at CAD10.00 per share. Transaction is subject to prior approval of the Canadian Securities Exchange, Raffles Financial Group Ltd.

Raffles Financial Group Limited (CNSX:RICH) cancelled the agreement to acquire Bruce Ventures Pte. Ltd. And Dayou Investment Ltd from Mr. Bai Wenyin and Mr. Liu Dianke on October 31, 2022.