Gelonghui, January 2, 丨 Gao Peng Mining (02212.HK) announced that on January 2, 2025, the company signed a placement agreement with the placement agent. The company plans to place up to 0.21 billion shares to be placed, which is equivalent to about 20.0% of the existing issued share capital; and expand the issued share capital by about 16.7% through allotments. The placement price of HK$0.11 is approximately 14.73% off the closing price of HK$0.129 per share as reported on the date of the placement agreement.

The Company intends to use the net proceeds of the placement of approximately HK$22.52 million (i) approximately 44.40% or HK$10,000,000 as the capital expenses of the Yiduoyan Project; and (ii) approximately 55.60% or HK$12,520,000 as the Group's general working capital.