Prime Global Capital Group Inc. (OTCBB:PGCG) announced a private placement of 2,652,000 common shares at $2.40 per share with three accredited shareholders for gross proceeds of $6,364,800 on September 24, 2012. The securities were issued pursuant to Regulation D. Weng Kung Wong, Chief Executive Officer and Director of the company subscribed for 2,260,000 shares. The company received net proceeds of $6,360,000.

On the same day the company issued 2,652,000 common shares in its first tranche.