OtherLevels Holdings Limited (ASX:OLV) announced a private placement of 47,800,000 common shares at a price of AUD 0.03 per share for gross proceeds of AUD 1,434,000 on October 22, 2018. The transaction will include participation from institutional and sophisticated investors and a number of small cap specialist funds in Australia and certain other jurisdictions outside the United States of America. The allotment of shares will occur on October 26, 2018 and the transaction is expected to close on November 1, 2018.