Everest Gold (01815) completed the issuance of a total of 277 million subscription shares to raise approximately HK$443 million

According to the Zhitong Finance App, Everest Gold (01815) announced that the company has received a total subscription price of HK$443 million under all six subscription agreements, including deposits previously paid by the subscribers. As all prerequisites under the subscription agreement have been fulfilled, the completion of all six subscription agreements was confirmed on November 13, 2026 in accordance with their terms.

After completion, the Company has distributed and issued a total of 277 million subscribed shares to six subscribers at the subscription price of HK$1.60 per subscribed share. The subscribed shares account for about 19.54% of the Company's issued share capital immediately before completion and about 16.34% of the Company's issued share capital after the expansion of the allocation and issuance of subscribed shares. All subscription matters under the subscription agreement have now been completed.

The net proceeds from the subscription (after deducting related fees and expenses) are approximately HK$443 million, and will be used for the purposes disclosed in these announcements, of which approximately 90% will be used as working capital for the bullion business and approximately 10% for the Group's general working capital.

After completion, China Silver's shareholding ratio in the Company has been diluted from about 35.27% to about 29.50%. As far as listing rules are concerned, China Baiyin is no longer the company's controlling shareholder, but it is still the single largest shareholder. As a result, the non-competitive promise made by China Baiyin for the Company's listing with the Company as the beneficiary has been terminated in accordance with its terms.