Tianshi Resources Subsidiary Plans to Issue 40,000 Tokens; Expected to Raise Over 22.57 Million HKD for Precious Metals Business Development

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Tian Shi Resources (08028) announced that on March 23, 2026 (after trading hours), the placement agent, AID Securities Futures Limited, and the company’s indirect non-wholly owned subsidiary, Silver Age Limited, entered into a placement agreement. Under this agreement, the placement agent has conditionally agreed to use best efforts to place up to 40,000 placement tokens minted by Silver Age to subscribers. The offering price will be referenced to the prevailing LBMA silver price on the business day immediately prior to the completion date.

Assuming all placement tokens are fully subscribed, based on the LBMA silver price on the business day prior to this announcement, the estimated net proceeds from the placement are approximately HKD 22.579 million. The actual net proceeds will depend on the final placement price determined at completion and may differ from the estimate. The company intends to use the net proceeds for working capital to support the ongoing development of its precious metals sales business.

The original purchase cost of the physical silver assets corresponding to the placement tokens is approximately HKD 14.293 million. Calculated based on the LBMA silver price on the business day prior to this announcement and assuming all tokens are fully subscribed, the company expects to realize an estimated profit of about HKD 8.286 million from the placement. This profit is calculated as the difference between (i) the total consideration received from the placement and (ii) the original purchase cost of the physical silver assets related to the tokens. The actual profit will be subject to review and depends on the final placement price determined at completion, and may differ from the estimate.

The company believes that blockchain technology will transform the global precious metals operation model. The placement presents a good opportunity for the group to promote the digitization and tokenization of traditional precious metal trading and to unlock market potential. It also enables the group to support precious metals operations with emerging blockchain technology, thereby enhancing its market influence and competitiveness.

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Editor: Lu Yujun