Geo-Jade Petroleum Corporation (SHSE:600759) announced a private placement of common shares not exceeding 679,052,255 shares for gross proceeds of not more than CNY 1,360,000,000 on April 14, 2020. The transaction will include participation from not more than 35 investors. The issuance price of the shares will be not lower than 80% of the median market price as of 20 previous days to issuance date. The shares have a lock up period of 6 months since issuance date. The transaction has been approved by the 6th meeting of the 12th directorate and the 4th meeting of the 12th reunion of supervisors of the company. The transaction is subject to approval from shareholders’ meeting and China Securities Regulatory Commission. The transaction is valid for 12 months since approval from the shareholders’ meeting of the company.