Summary by Futu AI
Global Strategic Group Limited (the “Company”) announces that due to market conditions, it has entered into a termination agreement with the distribution agent on April 22, 2024 to cancel the distribution of up to 91,172,000 shares of new shares in the original plan. Previously, the Company had announced the distribution plan on March 5 and extended the closing date and adjusted the distribution price by supplementary announcements on March 26 and April 15 and 16. Termination of the Agreement will be effective immediately, rendering all relevant rights and obligations void as of April 22. THE BOARD BELIEVES THAT THE TERMINATION OF THE SHARE SALE WILL NOT HAVE A MATERIAL ADVERSE EFFECT ON THE COMPANY'S FINANCES AND OPERATIONS AND INDICATES THAT THE COMPANY WILL CONSIDER FURTHER FUNDRAISING ACTIVITIES IN VIEW OF FUTURE DEVELOPMENTS AND MARKET CONDITIONS. The Company will comply with the GEM Listing Rules and will publish relevant information to the market in due time.