JINJIANG, China, May 22, 2020 /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 three institutional investors for a registered
direct offering of securities with gross proceeds of approximately
$750,000. The closing of the offering
is expected to take place on or about May
27, 2020 subject to the satisfaction of customary closing
In connection with the offering, the Company will issue
1,102,950 registered common shares at a purchase price of
$0.68 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 $0.79 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,
email@example.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
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.
SOURCE China Ceramics Co., Ltd.