Kingold Jewelery (NASDAQ:KGJI)

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Monday, December 26, 2011

On December 13, 2011, Wuhan Kingold Jewelry Company Limited, the controlled subsidiary of Kingold Jewelry, Inc., borrowed an aggregate of RMB40,000,000 (equivalent to approximately $6.3 million) from CITIC Bank Corporation Limited under two Working Capital Loan Contracts (the “Loan Contracts”), each between Wuhan Kingold Jewelry Company Limited and CITIC Bank Corporation Limited, dated as of November 29, 2011 but effective December 13, 2011. The maturity date of each of the loans is November 29, 2012 and the loans have an interest rate of 7.34%.

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Friday, January 21, 2011

WUHAN, China, Jan. 20, 2011 /PRNewswire-Asia/ -- Kingold Jewelry, Inc., today announced that it has closed its previously announced sale of 7,200,000 shares of its common stock at a price of $3.19 per share.

Kingold received aggregate net proceeds of approximately $20.2 million after deducting underwriting discounts and commissions and estimated offering expenses payable by Kingold. Kingold expects to use the net proceeds of this offering to expand its production capacity at its facilities in China by purchasing additional 24 Karat gold bars, recruiting and training new employees, purchasing additional jewelry design tools and for other working capital and general corporate purposes.

"We are pleased with the closing of this financing. This transaction improves our capital structure by strengthening our cash position and giving us greater flexibility for the future," said Bin Liu's, Kingold's chief financial officer. "Our balance sheet, strengthened by this financing, is primarily dedicated to purchasing additional raw materials in the form of 24 Karat gold bars."

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Friday, January 14, 2011

WUHAN, China, Jan. 14, 2011 /PRNewswire-Asia/ -- Kingold Jewelry, Inc. today announced the upsizing and pricing of its underwritten public offering of common stock. The size of the offering has been increased from the 6,000,000 shares of common stock previously disclosed in Kingold's registration statement filed with the U.S. Securities and Exchange Commission to 7,200,000 shares at a public offering price of $3.19 per share

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Wednesday, December 1, 2010

Kingold Jewelery files amended S-1 and increases maximum offering price to $9.06 from $8.62

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