Hunan Gold Corporation Board of Directors
Statement on Whether the Transaction Constitutes a Major Asset Reorganization, Connected Transaction, and Restructuring of Listed Company
Hunan Gold Corporation (hereinafter referred to as the "Company," "Listed Company") intends to acquire 100% of the equity of Hunan Gold Tianyue Mining Co., Ltd. (hereinafter referred to as "Golden Tianyue") held by Hunan Gold Group Co., Ltd. (hereinafter referred to as "Hunan Gold Group") and Hunan Tianyue Investment Group Co., Ltd., and 100% of the equity of Hunan Zhongnan Gold Smelting Co., Ltd. (hereinafter referred to as "Zhongnan Smelting") held by Hunan Gold Group, through a share issuance, and to raise supporting funds through a share issuance (hereinafter referred to as the "Transaction"). The Company's Board of Directors has prudently judged that the Transaction is expected to constitute a major asset reorganization and a connected transaction, but not a restructuring of the listed company. The details are as follows:
I. The Transaction Constitutes a Major Asset Reorganization