Western Region Gold Co., Ltd. announced a private placement of A shares for a gross proceeds of not exceeding 400,000,000 on January 4, 2022. The transaction will include participation from not more than 35 qualified specific investors. The shares have a par value of CNY 1 per share and issue price shall not lower than 80% of the average stock trading price in the 20 trading days before the pricing base date.

The shares subscribed shall not be transferred within 6 months from the date of completion. The transaction has been approved by the board of directors in its 14th meeting of the 4th board of directors and 13th meeting of the 4th Supervisory Committee and is subject to the approval of general meeting of shareholders, China Securities Regulatory Commission, and other competent management departments that may be involved. After the audit, evaluation and other work involved in this transaction are completed, the listed company will convene the board of directors again to review and approve the relevant proposals of this transaction, and the approval of the Xinjiang SASAC on the official plan of the transaction.