NQ Minerals PLC (ISDX:NQMI) announced that it has entered into private placement agreement for a private placement of shares for gross proceeds of $2,500,000 on August 22, 2016. The transaction will include participation from White Fox Ventures, Inc. (OTCPK:AWAW). Investor shall acquire 15% stake in the company through this transaction. As a part of the transaction, the investor has right to name one member to board of directors of the company. The investment is to be made in progressive tranches beginning from $150,000 upon signing, $100,000 on September 30, 2016, $250,000 on October 30, 2016, $250,000 on November 30, 2016, $500,000 on December 31, 2016, $500,000 on January 31, 2017, $500,000 on February 28, 2017, and $250,000 on April 1, 2017. The company issued 1,350,000 common shares at £0.084 ($0.10980) per share for gross proceeds of £113,400 ($148,224). The conversion has been done through www.oand.com as of August 22, 2016.