Korea Dongah Flour Mills Co. Ltd. announced that it expects to receive KRW 100 billion in funding from Sajo Seafood Co., Ltd., Sajodaerim Corporation, SAJOHAEPYO Corporation.

Korea Dongah Flour Mills Co. Ltd. announced a private placement of 10,000,000 common shares at KRW 10,000 per share for gross proceeds of KRW 100,000,000,000 on February 1, 2016. The transaction will include participation from new investors, Sajo Seafood Co., Ltd. for 4,000,000 shares to acquire 34.06% stake, Sajodaerim Corporation for 3,000,000 shares to acquire 25.55%, and SAJOHAEPYO Corporation for 3,000,000 shares to acquire 25.55% stake.

The investment date for the transaction is April 15, 2016. The transaction has been approved by the investors' board of directors. The transaction will take place through third party allocation.