CANOPY SKYFIRE (08245) proposes to sell approximately 17.82% of the maximum 41.36 million shares for a net raise of approximately 3.4 million Hong Kong dollars.

CANOPY SKYFIRE (08245) issued an announcement on March 20, 2026, stating that the company has entered into a placement agreement with a placing agent. According to the placement agreement, the placing agent has agreed to use its best efforts to place up to 41.36 million new shares on behalf of the company to no fewer than six independent placees at a price of HK$0.083 per share. The maximum number of placement shares is 41.36 million shares, representing approximately 16.67% of the company's total issued shares of 248 million shares as of the announcement date, and approximately 14.28% of the company's enlarged issued shares after the placement. The placement price represents a discount of approximately 17.82% compared to the closing price of HK$0.101 per share on GEM on March 20, 2026 (the date of the placement agreement). The company will bear all expenses related to the placement amounting to approximately HK$34,000. The company plans to use the net proceeds of approximately HK$3.4 million from the placement for general working capital, including: (i) approximately HK$460,000 for director's remuneration; (ii) approximately HK$810,000 for legal and professional fees; (iii) approximately HK$450,000 for auditor's remuneration; (iv) approximately HK$1.58 million for rental expenses; and (v) the remaining approximately HK$100,000 for other general working capital of the group.