Tomorrow Energy Co., Ltd. announced that it signed a letter of intent with new investor, Welcron Kangwon Co., Ltd. for a private placement on April 30, 2014.

On May 7, 2014, the company entered into an agreement with the investor and signed the contract. On the same date, the company received KRW 225,900,000 separately from the 10% of the contract price and KRW 51,000,000 as collateral for the contract. As part of the transaction, the investor bought 4,046 shares in the company.

On June 11, 2014, the company announced that it will issue 763,800 shares at KRW 5,000 per share for gross proceeds of KRW 3,819,000,000. The company will receive the funding from new investor, Welcron Kangwon Co., Ltd. As part of the transaction, the investor will acquire 100% stake in the company. The transaction was approved by the board of directors on the same date. The transaction is expected to close by August 20, 2014. The company reported total assets if KRW 4,864,000,000, total stockholder's equity of KRW -16,025,000,000, revenues of KRW 1,404,000,000, and net loss of KRW 1,035,000,000 for the financial year ended 2013.

On August 20, 2014, the company amended the terms of the transaction. The schedule investment date of the transaction has been amended from August 20, 2014 to September 20, 2014.