1101324 B.C. Ltd. announced a private placement of 21,640,000 common shares at a price of CAD 1 per share for gross proceeds of CAD 21,640,000 on May 4, 2017. The transaction involved participation from returning investor Nuri Telecom Co., Ltd. (KOSDAQ:A040160), who will still hold 100% stake in the transaction. Post the closing of the transaction, the shares issued by the company will increase from 1,100,100 to 22,740,100. The transaction was approved by the board of directors of the company.