TONGGUAN GOLD (00340) plans to discount approximately 19.8% of the issued subscription shares, raising about 225 million Hong Kong dollars net.

TONGGUAN GOLD (00340) announced that on April 8, 2025, the company intends to issue approximately 159.42 million shares and 168 million subscription shares to Gao Ye Singapore Global Investment Limited and Zijin Metal Limited respectively, at a subscription price of HK$0.69 per share, representing a discount of approximately 19.8% to the closing price of HK$0.86 per share on the last trading day on the Stock Exchange. The net proceeds from the issuance of subscription shares are approximately HK$225 million, with around HK$80 million allocated for the construction of a gold mine production line with a daily processing capacity of 450 tons; around HK$50 million for mining exploration activities; around HK$20 million for the construction of dormitories and related facilities at the group's mining sites; approximately HK$13 million for green mining construction; and the remaining funds for supplementing the group's operating capital. Gao Ye Singapore Global Investment Limited is mainly engaged in private equity and secondary market stock and bond investments in Greater China and is a wholly-owned international commercial company by Mr. Xu Guoming. Zijin Metal Limited is a mining company primarily engaged in precious metal-related investment and sales activities, wholly owned by Zijin Mining Group (02899).