Glonghui May 22 丨 Cornerstone Technology Holdings (08391freetoplayandearnnftgames.HK) Announcementfreetoplayandearnnftgames, on May 22, 2024freetoplayandearnnftgames, the company entered into subscription agreements with these subscribers (collectively referred to as Wu Jianwei, Leung Zihao and Li Minqiang), pursuant to which the subscribers have conditionally agreed to subscribe, and the company has conditionally agreed to allot and issue a total of 2,500freetoplayandearnnftgames.80,000 new shares at a subscription price of HK$0.64 per subscription share.

The subscription price of HK$0.64 per subscription share is approximately 12.28% higher than the closing price of HK$0.57 per share quoted on the Stock Exchange on May 22, 2024 (the date of the subscription agreement); the subscription shares represent approximately 2.76% of the company's issued share capital as at the date of this announcement; the estimated net proceeds from the subscription (after deducting expenses) will be approximately HK$15.8 million. On this basis, the net price per subscription share will be approximately HK$0.63. The company intends to use the net proceeds from the subscription for group working capital and general corporate purposes.