Rezel Catalysts Corp. announced a placement of 8,000,000 shares at an issue price of CNY 5.5 per share for gross proceeds of CNY 44,000,000 on October 10, 2022. The transaction will include participation from Zhejiang Huangma Technology Co.,Ltd for 7,000,000 shares for gross proceeds of CNY 38,500,000 and Wangma Jishi for 1,000,000 shares for gross proceeds of CNY 5,500,000.

The transaction has been approved by the company's board of directors at the second session of the seventh directorate.