Grandshores Technology Group Limited announced that it has entered into agreement for a private placement of 100,000,000 shares at an issue price of HKD 0.1438 per share for gross proceeds of HKD 14,380,000 on April 25, 2022. The transaction will include participation from Liu Zihao. The transaction was approved by the board of directors of the company.

The shares to be issued will have a hold period of 6 months from date of completion. The transaction is expected to close on June 30, 2022.