Gelonghui November 28th 丨CGN Mining (01164.HK) announced,On November 26, 2021, the company entered into subscription agreements with 11 subscribers. According to this, each subscriber has conditionally agreed to subscribe and the company has conditionally agreed to distribute and issue a total of 1 billion subscribed shares. The subscription price is HK$0.80 per subscribed share. The total cost payable by each subscriber under the subscription agreement was HK$800 million.The subscription price of HK$0.80 per share is approximately 18.37% off the closing price of HK$0.98 per share reported by the Stock Exchange on November 26, 2021 (that is, the date of the subscription agreement).

Assuming that there was no change in the number of issued shares between the announcement date and delivery, the subscribed shares accounted for (i) about 15.15% of the company's existing issued shares on the announcement date; and (ii) the company expanded its issued shares immediately after delivery.

The total proceeds from the subscription transaction amount to HK$800 million, while the net proceeds from the subscription transaction (after deducting related expenses) are estimated to be approximately HK$776 million and are intended for general working capital and the acquisition of uranium resource projects.