Lingbao Gold Group Company Ltd. (SEHK:3330) announced that it has entered into subscription agreement with 9 individual subscribers for private placement of 94,000,000 subscription shares at a price of CNY 0.912 per subscription share for gross proceeds of CNY 85,728,000 on January 4, 2018. The shares will represent 10.88% stake in the company. The board of directors of the company has approved the resolution on the issue of subscription shares and such resolution continues to be fully effective on completion date. The long stop date is February 9, 2018. The company will receive net proceeds of CNY 85,200,000 after deducting relevant expenses.