Kingold Jewelry sells 7M shares at $1.80 to China-based investors Kingold Jewelry announced that the Company has entered into a Subscription Agreement with three individuals providing for the sale of 7M shares of its common stock at a price of $1.80 per share for gross proceeds of $12,6M.
Kingold Jewelry terminates At Market Issuance sales agreement Kingold Jewelry announced that it and MLV & Co. mutually agreed to immediately terminate the previously announced At Market Issuance Sales Agreement pursuant to which the company could have offered and sold up to $10M of shares of its common stock from time to time with MLV as sales agent. The company did not sell any shares of its common stock under the ATM Facility. The Chairman of Kingold intends to schedule a meeting of its board of directors to review corporate strategy with a view towards enhancing stockholder value, the company noted. The review process will be ongoing and is expected to define corporate goals that focus on increasing stockholder value, providing greater access to management, setting high standards of corporate governance, reviewing the role of professional advisors and providing investors with the appropriate level of information and transparency.