IOT Group Limited announced that it expects to receive AUD 0.1 million in funding from SJ Capital Pty Ltd

IOT Group Limited (ASX:IOT) announced a private placement of 22,222,222 shares at a price of AUD 0.0045 for gross proceeds of AUD 100,000 on April 11, 2018. The transaction will involve participation from existing investor, SJ Capital Pty Ltd. On the same date, the company issued 11,111,111 shares for gross proceeds of AUD 49,999.995 in its first tranche closing.