China Kingstone Mining Holdings Limited (stock code: 1380) has issued a circular detailing plans to issue and allot 106,741,574 new shares under a specific mandate at a subscription price of HK$0.178 per share. The total subscription amount is expected to be approximately HK$19 million, with net proceeds estimated at around HK$18.6 million after expenses.

According to the circular, about 30% of the net proceeds will be allocated for general working capital needs, and the remaining 70% will support business expansion initiatives, including exploration of potential mining rights in Chile. The company states that the new shares represent around 27.41% of its existing issued share capital and about 21.51% on an enlarged basis.

The announcement also provides details of a Special General Meeting (SGM) to be held on 10 November 2025 to seek shareholder approval for the subscriptions. Shareholders are advised in the circular to review all relevant information in determining how to vote on the resolutions at the coming SGM.