Foxwell Energy Corporation Ltd. announced a private placement of 100,000,000 common shares at issue price of TWD 10 per share for gross proceeds of TWD 1,000,000,000 on August 23, 2022. The transaction will include participation from existing shareholders, Shinfox Energy Co., Ltd for 90,000,000 shares and employees of the company for 10,000,000 shares. Post closing of the transaction, the capital of the company will increase from TWD 2,000,000,000 to TWD 3,000,000,000.

The payment date for the transaction is August 29, 2022. The transaction has been approved by the board of directors of the investor.