JINJIANG, China, Dec. 16, 2019 /PRNewswire/ -- China Ceramics Co.,
Ltd. (NASDAQ Capital Market: CCCL) (the "Company"), a leading
Chinese manufacturer of ceramic tiles used for exterior siding and
for interior flooring and design in residential and commercial
buildings, today announced that it has entered into a definitive
agreement with certain institutional investors for a registered
direct offering of securities with gross proceeds of approximately
$900,000. The closing of the offering
is expected to take place on or about December 18, 2019 subject to the satisfaction of
customary closing conditions.
In connection with the offering, the Company will issue 1.2
million registered common shares at a purchase price of
$0.75 per share. Concurrently
in a private placement, for each common share purchased by an
investor, such investor will receive from the Company an
unregistered warrant to purchase one common share. The
warrants have an exercise price of $0.82 per share, will be exercisable six months
from the date of issuance, and will expire five years from the
initial exercise date.
The Company plans to use the net proceeds from the offering for
general corporate and working capital purposes.
Dawson James Securities, Inc. acted as the sole placement agent
in connection with the offering.
The offering of the common shares described above (but not the
warrants or the common shares underlying the warrants) is
being made pursuant to an effective "shelf" registration statement
on Form F-3 (File No. 333-228182) that was previously filed with
the Securities and Exchange Commission ("SEC") and declared
effective by the SEC on November 19,
2018. The offering will be made only by means of a
prospectus supplement and accompanying prospectus. A final
prospectus supplement and accompanying prospectus related to the
offering will be filed with the SEC and will be available on the
SEC's website located at http://www.sec.gov. Copies of the
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained by contacting Dawson James
Securities, Inc., Attention: Prospectus Department, 1 North Federal
Highway, 5th Floor, Boca Raton, FL
33432, mmaclaren@dawsonjames.com or toll free at 866.928.0928.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About China Ceramics Co., Ltd.
China Ceramics Co., Ltd. is a leading manufacturer of ceramic
tiles in China. The Company's
ceramic tiles are used for exterior siding, interior flooring, and
design in residential and commercial buildings. For more
information, please visit http://www.cceramics.com.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to our
beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors,
which may be beyond our control, and which may cause the actual
results, performance, capital, ownership or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. Forward-looking statements in this press release
include, without limitation, the Company's ability to satisfy the
closing conditions for the offering and to complete the offering.
All forward-looking statements attributable to us are expressly
qualified in their entirety by this cautionary notice, including,
without limitation, those risks and uncertainties described in our
annual report on Form 20-F for the year ended December 31, 2018 and otherwise in our SEC
reports and filings. Such reports are available upon request from
the Company, or from the Securities and Exchange Commission,
including through the SEC's Internet website at http://www.sec.gov.
We have no obligation and do not undertake to update, revise or
correct any of the forward-looking statements after the date
hereof, or after the respective dates on which any such statements
otherwise are made.
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SOURCE China Ceramics Co., Ltd.