King Resources, Inc. (OTCQB: KRFG) Subsidiary Heavenly Grace Limited Returned 35 Collectible Items to Seller

Rhea-AI Summary

King Resources (OTC: KRFG) announced that its indirect wholly owned subsidiary Heavenly Grace Limited returned 35 collectible items to Herbertini Limited and executed the refund clause, resulting in the return and cancellation of 62,624,906 shares of KRFG common stock.

The return was executed on December 30, 2025 due to prolonged delays selling the batch; management says it will pursue more profitable collectibles and expand auction channels to protect investor value.

Positive

• 62,624,906 shares cancelled reducing outstanding share count
• Completed return and refund of 35 collectible items
• Plans to expand auction channels to increase sales opportunities

Negative

• Initial issuance of 62,624,906 shares to Herbertini caused prior dilution
• Long delay selling the collectible batch prompted contract return

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HONG KONG, April 7, 2026 /PRNewswire/ -- King Resources, Inc. (OTC: KRFG) ("KRFG" or the "Company"), is pleased to announce that its indirect wholly-owned subsidiary, Heavenly Grace Limited ("HGL"), has completed the return and refund of 35 collectible items with Herbertini Limited by executing the refund clause in the previously signed sales agreement, pursuant to which 62,624,906 shares of common stock of the Company were issued to Herbertini Limited.

On 30 December, 2025, HGL has decided to execute the return and refund option due to the long delay of successful selling of the batch of collectible items, and in connection with such return, 62,624,906 shares of KRFG common stock was returned and cancelled by the Company.

"This decision is made based on the specific batch of collectible items," said Polin Wong, CEO of KRFG, "we will continue to seek for more profitable collectible items to grow our collectibles business and always be protecting the investment values of our investors.  We have also been working with auction houses in different regions to increase our sales channels and market opportunities."

About King Resources, Inc.

King Resources, Inc. (OTC: KRFG) is a diversified holding company focused on acquiring and growing high-potential businesses. Through its subsidiaries, including Heavenly Grace Limited, the Company aims to generate sustainable revenue streams and maximize returns for its investors through business consultation services, as well as investing and selling of high value collectible items.

Forward Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions. These forward-looking statements may include, but are not limited to, statements regarding future business activities including the expansion into the decentralized financing space. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated with operating a business in Hong Kong, risk of interference by the PRC government, ability to compete, that financial resources do not last for as long as anticipated, and that KRFG is a holding company. A further list and description of these risks, uncertainties and other risks can be found in KRFG's regulatory filings with the U.S. Securities and Exchange Commission, including in its current report on Form 10-K filed on July 15, 2025. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. KRFG undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.

For media queries, please contact:
parkson.yip@xbe.com

View original content:https://www.prnewswire.com/news-releases/king-resources-inc-otcqb-krfg-subsidiary-heavenly-grace-limited-returned-35-collectible-items-to-seller-302735006.html

SOURCE King Resources, Inc.

FAQ

Why did King Resources (KRFG) return 35 collectible items on December 30, 2025?

They executed the refund clause because selling the batch was significantly delayed. According to King Resources, the return followed the sales agreement and was chosen after prolonged unsuccessful sale efforts.

How many KRFG shares were returned and cancelled after the Herbertini refund?

A total of 62,624,906 KRFG common shares were returned and cancelled. According to King Resources, those shares were issued previously under the sales agreement with Herbertini.

What is the investor impact of KRFG cancelling 62,624,906 shares?

Cancelling 62,624,906 shares reduces the company’s outstanding share count, potentially lowering dilution. According to King Resources, the cancellation followed the refund and aims to protect investor value.

Will King Resources (KRFG) continue its collectibles business after the Herbertini return?

Yes — the company plans to seek more profitable collectible items and expand sales channels. According to King Resources, it is working with auction houses in different regions to increase market opportunities.

When did Heavenly Grace Limited complete the refund and share cancellation for KRFG?

The return decision was executed on December 30, 2025, with public announcement on April 7, 2026. According to King Resources, the timing followed delay issues in selling the collectible batch.