On June 24th, Gleamray announced that related to the private placement (which constitutes the sale of equity in Allied Gaming & Entertainment Inc. (“AGAE”)), Ourgame (06899.HK) has issued an announcement. On June 15, 2024, AGAE entered into a termination agreement with a strategic investor and its affiliates. Accordingly, all parties unanimously agreed to terminate the stock purchase agreement and three written agreements related to the stock purchase agreement. Under the termination agreement, AGAE will (i) pay a total of 2 million US dollars in cash to the strategic investor (i.e. the private placement amount received by AGAE from the strategic investor according to the stock purchase agreement), and (ii) exempt the strategic investor's obligation to pay the remaining 4.597 million US dollars of purchase amount for the private placement. In exchange, the strategic investor will transfer all common stock issued to the strategic investor according to the stock purchase agreement back to AGAE. The termination agreement will take effect upon completion of the payment and transfer of shares. The termination related to the sale of AGAE equity must be disclosed.

At the request of the company, the trading of the company's stocks has been suspended on the Hong Kong Stock Exchange since Thursday, March 28, 2024 at 9:07 am, and will continue to be suspended until the company releases the annual performance report and annual report for 2023.