Grandshores Technology Group Limited announced a private placement of 100,000,000 shares at a issue price of HKD 0.1438 per share for gross proceeds of HKD 14.38 million on April 25, 2022. The company entered in to agreement with new individual investor, Liu Zihao who will acquire 8.37% stake in the company. The securities issued are subject to hold period of 6 months after the date of completion. The company will receive net proceeds of HKD 14.30 million in the transaction. The transaction is expected to close before June 30, 2022. The transaction is subject to approval of stock exchange.