Tianci International Inc (CIIT) News & EventsCIITTianci International Inc

Tianci International Inc Trading Halted, News Pending

Tianci International Inc trading halted, news pending

Tianci International Prices 6,055,000 Units at $0.81 Each

Tianci International announced the pricing of its registered offering of 6,055,000 units, on a best efforts basis, at an offering price of $0.81 per Unit. Each Unit consists of one share of common stock of the Company, with a par value of $0.0001 per share, and one common warrant to purchase one share of common stock of the Company. The aggregate gross proceeds from the Offering are expected to be approximately $4.9M, prior to deducting placement agent fees, legal fees, administrative and other offering-related expenses. Each Common Warrant will be immediately exercisable upon issuance at an initial exercise price of $0.81, which is equal to the public offering price per Unit. The warrant exercise price is subject to customary anti-dilution adjustments in connection with share splits, share combinations, dividend distributions, subsequent equity sale and other corporate restructurings. The warrants will expire on the third anniversary of the issuance date. The closing of the Offering is currently expected to take place on June 17, subject to the satisfaction of customary closing conditions set forth in the Securities Purchase Agreements and related transaction documents. Maxim Group is acting as the sole placement agent for the Offering.

Tianci International Signs MOU with Greypole Mining

Tianci International has signed a non-binding Strategic Cooperation Memorandum of Understanding, or MOU, with Zimbabwe-based mining and trading company Greypole Mining. The MOU contemplates that Tianci and Greypole Mining will negotiate and enter a formal partnership agreement in order to leverage each party's strengths in capital markets, technological integration, and exploitation of mineral resource reserves to jointly advance exploration, extraction, and the acquisition of gold and chromium resources in Zimbabwe. The MOU contemplates that, upon execution of the partnership agreement, the collaboration will focus on the following core areas: the parties will jointly conduct mining operations with respect to approximately 500 hectares of gold mining concessions in the Gwanda region of Zimbabwe and approximately 1,500 hectares of chromium concessions in the Zvishavane region or Zimbabwe. Greypole Mining will assist in the compliant application for exploration and mining rights within the designated project areas. Both parties have agreed to adopt a phased implementation approach to comprehensively address regulatory requirements and ensure smooth operational deployment of the mining concessions.