Prime Global Capital Group Inc. (OTCBB:PGCG) announced a private placement of 2,652,000 common shares at $2.40 per share with three accredited shareholders for gross proceeds of $6,364,800 on September 24, 2012. The securities were issued pursuant to Regulation D. Weng Kung Wong, Chief Executive Officer and Director of the company subscribed for 2,260,000 shares. The company received net proceeds of $6,360,000.

On the same day the company issued 2,652,000 common shares in its first tranche.

On October 18, 2012, Prime Global Capital Group Inc. closed the transaction. The company issued 2,340,000 shares for gross proceeds of $5,616,000 in its second tranche. D. Weng Kung Wong, Chief Executive Officer and Director of the company subscribed for 1,860,000 shares. The company raised net proceeds of $5,610,000 in its second tranche.