Resa Group Limited (ASX:RE1) announced a private placement of 75,000,000 common shares at a price of AUD 0.02 per share for gross proceeds of AUD 1,500,000 on December 13, 2019. The transaction has been approved in the annual general meeting 2019 of the company. The transaction will include participation from new and existing investors. On January 20, 2020, the company announced that it will issue 80 common shares for gross proceeds of AUD 886,768 in its first tranche.