Phoenitron Holdings Limited announced that it has entered into agreement for a private placement of convertible bonds for the gross proceeds of HKD 16,500,000 on February 10, 2023. The transaction will include participation from Guo Rong Xiang. The bonds will have a interest rate of 5% per annum and payable by the Company on the Maturity Date or the Early Redemption Date.

The bonds are convertible into 55,000,000 Shares at an conversion price of HKD 0.30 per share. The company will receive net proceeds of HKD 16,200,000.