Asian American Medical Group Limited announced that it has entered into a placement agreement to issue 34,775,275 shares at an issue price of AUD 0.0388 per share for gross proceeds of AUD ?1,349,280.67? on September 29, 2021. The transaction will include participation from sophisticated institutional investor in Singapore. Post-closing of the transaction, the company’s issued share capital will be enlarged from 347,752,754 shares to 382,528,029 shares. The new shares represents 10.0% of the existing issued and paid-up share capital and 9.1% of the new enlarged share capital. The transaction is expected to close on or around September 30, 2021. The transaction need not be approved by the shareholders of the company.