Elmore Limited announced a private placement of up to 200,000,000 raising shares at an issue price of AUD 0.00750 per share for gross proceeds of up to AUD 1,500,000 along with 20,000,000 placement options on July 31, 2023. The transaction will include participation from non-related parties of the company. Each placement option will be issued for every 10 shares and are exercisable at an exercise price of AUD 0.0150 per option.

The transaction is subject to approval of shareholders' meeting scheduled to be held of August 30, 2023. The expected date of payment is August 31, 2023 or otherwise no later than three months after the date of the shareholders' meeting.