Sinomine completes projects, reallocates remaining funds to working capital

Sinomine Resource Group announced the completion of its 2022 non-public offering fundraising projects and the reallocation of the remaining funds to supplement working capital. The company's board of directors, in its twentieth meeting of the sixth session on December 9, 2025, approved the project closure and the permanent transfer of RMB 83,964,972.05 in remaining funds (including interest income and deducting handling fees) for daily operations.

The total raised funds from the non-public offering amounted to RMB 2,999,999,957.64. After deducting issuance expenses of RMB 26,278,829.13, the net proceeds were RMB 2,973,721,128.51. The projects, including the 35,000 t/a high-purity lithium salt project and the Bikita lithium mine expansion projects, have all reached their intended usable state. The reallocation of remaining funds will ensure efficient capital utilization and aligns with the company's long-term development.

Founder Securities, as the sponsor, conducted due diligence and confirmed that the project completion and fund reallocation adhere to relevant laws and regulations. The sponsor concluded that the actions do not alter the direction of the raised funds or harm the interests of the company or its shareholders.