Summary by Moomoo AI
Global Strategic Group Limited (the “Company”) announces that due to market conditions, it has entered into a termination agreement with the distribution agent on January 29, 2024 to cancel the distribution of up to 91,172,000 shares of common stock originally scheduled for December 19, 2023 and January 9, 2024. The Termination Agreement is effective immediately, rendering all rights and obligations under the Subscription Agreement and the Supplemental Agreement no longer effective from the date of termination. THE BOARD BELIEVES THAT THE TERMINATION OF THE SHARE SALE WILL NOT HAVE A MATERIAL ADVERSE EFFECT ON THE COMPANY'S FINANCES AND OPERATIONS AND INDICATES THAT THE COMPANY WILL CONSIDER POSSIBLE FUTURE FUNDRAISING ACTIVITIES DEPENDING ON MARKET CONDITIONS. This announcement has been made in accordance with the GEM Listing Rules and promises to be accurate.