BJ Agro Co., Ltd. announced a private placement of 14,000 common shares at a price of KRW 5,000 for gross proceeds of KRW 70,000,000 on October 30, 2018. The transaction will include participation from new investor Berg Earth Co.,Ltd. (JASDAQ:1383). The transaction has been approved by the board of directors of investor. The company will receive funding through third party capital increase. As part of the transaction, the investor will acquire 70% stake in the company. The transaction is expected to close on November 15, 2018.