GRAND OCEAN AR (00065) announced that on September 5, 2025 (after trading hours), the company entered into a placement agreement with a placing agent. Under the agreement, the company has conditionally agreed to place up to 40.92 million placement shares through the placing agent on a best effort basis at a placement price of HK$0.40 per share to not less than six placees, who together with their ultimate beneficial owners shall be independent third parties.

The placement shares represent approximately 16.67% of the enlarged issued share capital. The placement price of HK$0.40 per placement share represents a discount of approximately 14.89% to the closing price of HK$0.47 per share on September 5, 2025.

Assuming the maximum of 40.92 million placement shares are fully placed, the estimated gross proceeds and net proceeds (after deducting placing commission and other related expenses) will be approximately HK$16.4 million and HK$16.1 million respectively.

The company intends to use the net proceeds from the placement for several potential investment opportunities identified in the mining industry and the general working capital of the group.