Prime Global Capital Group Inc. (OTCBB:PGCG) announced a private placement of 2,988,000 shares at $2 per share for gross proceeds of $5,976,000 with three accredited shareholders on August 6, 2012. Chief Executive Officer and Director of the company, Weng Kung Wong subscribed for 2,038,000 shares in the transaction. The company received net proceeds of $5,970,000. The securities were sold pursuant to Regulation D. The shares were not sold in United States.

On August 6, 2012, Prime Global Capital Group Inc closed the transaction.