Celamin Holdings N.L. announced a private placement of 6,207,000,000 shares at a price of AUD 0.00025 per share for the gross proceeds of AUD 1,551,750 on January 10, 2018. The transaction will include participation from returning investors African Lion III, a fund managed by Lion Manager Pty Ltd, Polo Resources Limited (AIM:POL), new investor Lion Selection Group Limited, directors and sophisticated investors, clients of Patersons Securities who will be paid a 6% fee on the funds contributed by its clients. The transaction will be completed in two tranches, first tranche of 400,000,000 shares to sophisticated investors to raise proceeds of AUD 100,000 and second tranche of the remaining shares following shareholders approval at general meeting of the company to be held on February 14, 2018.

On the same day the company completed the issuance of 400,000,000 shares for the proceeds of AUD 100,000 as part of first tranche of the transaction.