Kantong Group (01059) issued an announcement that on May 24, 2024, the company entered into a placing agreement with the placing agent. The placing agent has agreed to make every effort to pay the placing price of 0 per placing share in accordance with the terms and conditions set out in the placing agreement.crazynocasino.2950 HK$52.086 million placing shares to not less than six placees.

The placing price represents a discount of approximately 16.90% to the closing price of HK$0.3550 per share of the Shares as quoted on the Stock Exchange on May 24, 2024, the date of the placing agreement.

Assuming a maximum of 52.086 million placing shares are placed under the placing, the company will receive the net proceeds (after deducting the placing commission and itscrazynocasinoAfter his expenses and expenses), it will be approximately HK$14.8 million. The company intends to use the net proceeds as general working capital of the group and to enable the group to seize potential investment opportunities.