Zhitong Financial App News, Zhongguang Nuclear Mining (01164) announced that on November 26, 2021, the company entered into a subscription agreement with 11 subscribers, pursuant to which the company has conditionally agreed to allot and issue a total of 1 billion subscription shares to each subscriber at a subscription price of HK $0.80 per subscription share. The total consideration payable by each subscriber under the subscription Agreement is HK $800 million.

The total amount of proceeds from the subscription is HK $800 million, while the net proceeds from the subscription (after deducting related expenses) is estimated to be about HK $776 million, which is intended to be used for general working capital and for the acquisition of uranium resources projects.

According to the previous announcement, the company has completed the acquisition of a 49 per cent stake in Austria at a cost of about US $435 million to increase its uranium holdings and expand its natural uranium trading business, while the subscription enables the company to replenish capital to conduct natural uranium trading business. and as part of the group's development strategy, to acquire competitive overseas uranium resources projects in the future.