Beijing Ilji Tea Technology Co., Ltd. announced a private placement of common shares for the gross proceeds of KRW 9,411,200,000 on November 26, 2020. The transaction will include participation from returning investor Ilji Technology Co., Ltd. (KOSDAQ:A019540) to retain its 100% stake in the company. The transaction was approved by the board of directors of Ilji Technology Co., Ltd. (KOSDAQ:A019540). The transaction is expected to close on November 27, 2020.