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China Keli Announces Update and Extension of Private Placement

Newsfile Corp.
·2 min read

Vancouver, British Columbia--(Newsfile Corp. - July 22, 2021) - China Keli Electric Company Ltd. (TSXV: ZKL.H) (the "Company" or "China Keli") is pleased to announce an update to its previously announced non-brokered private placement of up to 4,347,826 common shares at $0.23 per share for aggregate gross proceeds of up to $1,000,000 (the "Private Placement").

Investor interest in the Private Placement has been high, and the Company expects to raise more than $900,000 in aggregate gross proceeds. In addition, the NEX Board of the TSX Venture Exchange has granted an extension for the Company to complete the Private Placement on or prior to August 6, 2021 (the "Extension Deadline").

Closing of the Private Placement is subject to all necessary regulatory approvals including acceptance from the NEX Board of the TSX Venture Exchange. All shares issued in connection with the Private Placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws. Finders' fees may be payable in connection with the Private Placement and those qualified persons involved as finders will receive a cash fee of 7% of the proceeds raised.

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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

For further information, please contact:

CHINA KELI ELECTRIC COMPANY LTD.

Philip Lo, Chief Financial Officer
Tel. No.: (86) 13632 173732
Email: philip@zkl.cc

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90999