Raffles Financial Shareholders Update

Singapore, Singapore--(Newsfile Corp. - July 2, 2025) - Raffles Financial Group Limited (CSE: RICH) ("RFG'' or the "Company") This is to give shareholders an update of the Company.

Change in the composition of the Board of Directors

Mr. David Wong, the independent director of the Company has informed the Board of his decision to resign from the Board, effective on 1 July 2025.

Mr. Wong has served the Company with dedication and invaluable contributions since his appointment. His strategic insights have greatly benefited the Company. The Board extends its deepest gratitude to Mr. Wong for his exemplary service and wishes him a fulfilling and well-deserved retirement.

Concurrently, the Board is pleased to announce the appointment of Mr. William Ying as an Independent Director of the Company, effective from 1 July 2025.

Mr. Ying is an angel investor, venture capitalist and senior corporate executive with a proven record of achievement in Corporate Finance and Administration for high growth companies and capital markets. He has been a driving force leading and funding high growth start-ups, private and public companies, through RTO, IPO, M&A, and trading on the major North American stock exchanges.

For over 25 years, Mr. Ying provides growth investment opportunities to accredited investors globally (institutional, corporate and individual) as well as advises growth-oriented companies in capital raising, M & A, listing and other corporate finance activities. He served as a CEO of a CSE-listed company and currently take a position on board of director of a publicly listed fintech company. Mr. Ying also participates in Mentor in Business program at Simon Fraser University (SFU Beedie School of Business) as a mentor to share his business experience with future business leaders. William holds a Master Degree of Business Administration from Ivey Business School at Western University, Ontario, Canada.

The Board is confident that Mr. Ying's appointment will enhance the Company's governance framework and support its long-term growth objectives, as well as further strengthen the Board's oversight and strategic guidance.

About Raffles Financial Group Limited

Raffles Financial Group is listed on the Canadian Securities Exchange Purchasable under the stock symbol (CSE: RICH).

Raffles specializes in public listing advisory and arrangement services including corporate restructuring and mergers & acquisitions.

The Company's operating subsidiaries are based in Hong Kong serving clients from Asia-Pacific who are in AI, blockchain, cloud-database, cyber security, renewable energy, food & beverage, green economy & environment, fintech, healthcare, logistics and sustainability initiatives.

RFG target clients are those aiming for a market cap between US$150 million to US$300 million upon IPO and with net earnings of at least US$10 million. They are too small to be served by the big investment banks and too big for the boutique advisors.

On behalf of the RFG Board of Directors

Monita Faris

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the Canadian Securities Purchase nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Purchase) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking information," including statements regarding the plans, intentions, beliefs, and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "must," "next," "propose," "new," "potential," ""favorable," "implications," and "ongoing," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market, and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257622