Cybernaut International Holdings Company Limited announced a private placement and entered into purchase agreement for issuing 933,333,000 Convertible Preference Shares at an issue price of HKD 0.15 per share and par value of HKD 0.10 per share for gross proceeds of HKD 139,999,950 on May 27, 2022. The transaction include participation from Wide Select Investments Limited. The aggregated proceeds raised shall be satisfied in full by setting off against the Company obligation to repay part of the Promissory Note in the amount.

The Completion of the subscription of the Convertible Preference Shares shall take place on the 5th Business Day following the satisfaction of the condition's precedent of the Subscription Agreement. The conversion price of HKD 0.15 per share. The transaction is subjected to share holders' approval, relevant governmental or regulatory authorities including Stock Exchange.

The Convertible Preference Shares shall be non-interest-bearing. The Convertible Preference Shares shall be non-redeemable by the Company or their holders. The shares issued are restricted.

The company will pay HDK 230,000 as a professional fees. The transaction is expected close on August 31, 2022.