ELIFE HLDGS (00223) completes issuance of a total of 278 million placing shares, raising net proceeds of approximately HK$27.2 million

ELIFE HLDGS (00223) announces that all conditions of the placing agreement have been fulfilled, and the placing was completed on October 26, 2026. Pursuant to the terms and conditions of the placing agreement, a total of 278 million placing shares have been allotted and issued at the placing price of HK$0.1 per placing share to not fewer than six placees, representing approximately 14.54% of the Company's issued share capital as enlarged by the allotment and issue of the placing shares immediately upon completion. The net proceeds from the placing (after deducting the placing commission and other expenses of the placing) are approximately HK$27.2 million, which are intended to be applied as follows: (i) approximately HK$8.85 million (representing approximately 32.54% of the net proceeds from the placing) for the development of the Group's supply chain business, including the provision of advance financing to suppliers; (ii) approximately HK$7.47 million (representing approximately 27.46% of the net proceeds from the placing) for the settlement of certain outstanding payables of the Company, including professional fees and repayment of directors' loans; and (iii) approximately HK$10.88 million (representing approximately 40.00% of the net proceeds from the placing) for supplementing the Group's working capital, of which (a) approximately HK$7.63 million is intended to be mainly used for the payment of staff salaries and office rent of the Hong Kong headquarters; and (b) approximately HK$3.25 million is intended to be mainly used for the payment of staff salaries, office rent, marketing expenses and other related costs of the Company's subsidiaries operating in China.