REMT (00601.HK): Completes Placing of 96 Million New Shares, Raising Approximately HKD 4.5 Million Net

NewTimeSpace News: On 8 September 2026, Rare Earth Magnesium Technology Group Holdings Limited (stock code: 00601) announced that the placing of new shares under the general mandate was completed on 8 September 2026, with an aggregate of 96,000,000 placing shares allotted at a placing price of HKD 0.05 per share to no fewer than six placees, representing approximately 16.20% of the issued share capital immediately before completion and approximately 13.94% of the enlarged issued share capital.

According to the announcement, gross proceeds from the placing amount to HKD 4.8 million, with net proceeds of approximately HKD 4.5 million after deducting placing commission and other related costs and expenses; 50% of the net proceeds will be used for auditing and professional fees, 30% for staff costs and the remaining 20% for settling trade and other payables.

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