Elife Holdings Details Subscription Proceed Allocation

Elife Holdings Limited (HK:0223) has released an update.

Elife Holdings Limited has announced the allocation of approximately HK$27.7 million in net proceeds from a subscription, with half earmarked for working capital replenishment and the other half for business development, including brand digitization services in the PRC. The company’s current cash reserves and monthly overhead costs have been disclosed, and it has indicated that no new business opportunities for these funds have been identified yet. This supplemental announcement follows earlier announcements regarding the subscription and provides additional financial details.

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