3 E Network closes $1M private placement with CEO-linked entity

3 E Network Technology Group Limited (Nasdaq: MASK) has completed a $1.0 million private placement with an entity affiliated with the company's chief executive officer, according to a press release. The Hong Kong-based company said it has received the proceeds from the transaction, which was first announced in early September 2026.

The company stated it plans to use the funds for research, development, and commercialization of integrated hardware and software solutions, working capital, and recruitment of technical personnel.

"The proceeds provide additional resources for our planned development activities," said Dr. Tingjun Yang, chief executive officer of 3 E Network. "We intend to use this capital to advance our AI development plans, implement our business roadmap, and work toward generating long-term value for our shareholders."

3 E Network describes itself as a business-to-business IT solutions provider with operations spanning data center services and software development.

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