Black Pearl Group Limited announced a private placement to issue 3,219,575 common shares at an issue price of NZD 0.68332 for the gross proceeds of NZD 2,199,999.989 on June 26, 2023. The company transaction included participation key existing shareholders, new accredited investors in the United States and wholesale investors in New Zealand. The company is allotting NZD 1,650,000 of new shares under the placement and a capital change notice accompanies this announcement in this respect.

The transaction was oversubscribed. The transaction is subject to shareholders approval.