Financings
China Keli Electric completes 1:10 rollback
ZKL · Price
Executive Summary
- Completed a 1‑for‑10 share consolidation, with post‑consolidation shares trading under ticker ZKL as of market open on Oct. 10, 2025.
- Closed a non‑brokered private placement of 15 million post‑consolidation units at $0.05 per unit, raising gross proceeds of $750,000.
- Net proceeds will be used to reduce existing trading payables and loans, cover consolidation costs, meet regulatory obligations, and evaluate strategic acquisition opportunities; a director subscribed for 1,496,000 units in a related‑party transaction.
Key Details
- Share Consolidation: One‑for‑10 reverse split of common shares; effective at market open on Oct. 10, 2025; ticker symbol remains ZKL.
- Private Placement Structure:
- Units offered: 15,000,000 post‑consolidation units.
- Price per unit: $0.05 (post‑consolidation).
- Gross proceeds: $750,000.
- Each unit includes one common share and one warrant to purchase an additional share at $0.05, exercisable until Oct. 10, 2026.
- Finder’s Fees: $52,500 paid to an arms‑length brokerage firm for placement services.
- Use of Proceeds:
- Pay down existing trading payables and outstanding loans.
- Cover costs associated with the share consolidation.
- Satisfy continuous disclosure and regulatory obligations.
- Continue evaluation of potential strategic acquisition opportunities.
- Related‑Party Transaction: Director subscribed for 1,496,000 units; transaction qualifies as a related‑party under TSX Venture Exchange Policy 5.9 and MI 61‑101. Exemptions applied because the fair market value did not exceed 25% of market capitalization.
Notable Quotes
No executive quotes provided in the release.