Yinfu Gold raises $120,000 through private placement of 120M shares

Yinfu Gold Corp.

Raised $120,000 cash via 120M common shares at $0.001 each; proceeds for working capital.
Shares subject to 1-year lock-up; issued to seven subscribers including Bo Shaorong, Chen Qiang, LAI Hai Ying.
Largest subscribers: Chen Qiang (59.8M shares, $59,800) and Bo Shaorong (28.4M shares, $28,400).
Placement price at par value; shares trade OTC under ticker ELRE.
Private placement deemed successful as proceeds met 70% threshold (actual $120k vs $120k target).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Yinfu Gold Corp. entered into Subscription Agreements for Placement of Shares with Bo Shaorong, Chen Qiang, Wang Xian, Liu Leigang, Sun Ming, Bai Chengwei, LAI Hai Ying valued at $120,000 (effective 2023-02-14).

Action: entry
Agreement: equity purchase
Counterparty: Bo Shaorong, Chen Qiang, Wang Xian, Liu Leigang, Sun Ming, Bai Chengwei, LAI Hai Ying
Value: $120,000
Effective: 2023-02-14

Exact text from the filing

On February 14, 2023, the Company entered into Subscription Agreements for Placement of Shares with the seven targeted subscribers pursuant to the above Resolutions.

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Yinfu Gold Corp. filing history →

Source: SEC EDGAR

accession 0001640334-23-001290

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