China Star Food Group Ltd. (SG:42W) has released an update.
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China Star Food Group Ltd. has disclosed the current status of the net cash proceeds from its FY2022 Placement, revealing that a portion has been utilized for renovations and new equipment for Fujian Zixin’s manufacturing facilities, with a balance remaining. The company pledges to regularly update shareholders on the disbursement of the remaining funds and will include details in its financial reporting. This announcement follows the completion of the placement exercise in November 2021 and a subsequent change in the use of proceeds in March 2024.
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