Yulong Eco-Materials Limited (NasdaqCM:YECO) announced a private placement of 1,000,000 common shares at a price of $3 per share for gross proceeds of $3,000,000 on November 7, 2018. The company also issued warrants in the transaction to purchase up to 1,000,000 million shares at an exercise price of $5 per share to purchase. The warrants are immediately exercisable and expire five years from the date of issuance. The private placement is expected to close on or about November 9, 2018.