Luk Hing Entertainment Group Holdings Limited announced that with reference is made to the announcements of the Company dated 13 June 2022, 14 June 2022, 15 June 2022 and 27 June 2022 in relation to the acquisition of the entire issued share capital of C45 Holdings Limited (the "Announcements"). Unless otherwise defined, terms used herein shall bear the same meanings as defined in the Announcements. On even date of this announcement, the Company has decided not to proceed with the Acquisition since the Vendor has not performed all of its obligations at Completion.

The Agreement shall become void and of no further effect, all liabilities and obligations of the parties shall cease and determine, and all Consideration Shares, being 317,064,220 Shares, shall be cancelled. Furthermore, since Completion has not taken place, the appointment of Mr. Jonathan Cheng as an executive Director of the Company will not come into effect.