Beaver Group (Holding) Company Limited announced that it has entered into placing agreement for the private placement to procure not less than six placees on a best effort basis to subscribe for the convertible bond of an aggregate principal amount of up to HKD 30,000,000 at the initial conversion price of HKD 0.8 on May 23, 2022. In the event that both conversion rights (I) and conversion rights (II) having been exercised in full at the initial conversion price of HKD 0.8 per conversion share, a maximum of 50,000,000 shares will be allotted and issued by the company, representing (i) approximately 37.04% of the issued share capital of the company.