Ephraim Resources Limited announced a private placement of 13,552,007,206 ordinary shares at a price of 0.0000368949 per share for a gross proceeds of AUD 500,000 on January 17, 2020. The transaction will include participation from new investor Worley Securities Pty Ltd. who will hold approximately 88% of the ordinary shares of the company post completion of the transaction. The transaction was approved by the board of the company.