Bion Environmental Technologies Inc. (OTCBB:BNET) announced a private placement of 2,000,000 units at $3 per unit for gross proceeds of $6,000,000 on January 26, 2012. Each unit will consist of one common share and one callable share purchase warrant. Each warrant will have an exercise price of $3.10 per share. The securities will be issued pursuant to Regulation D. Equinox Securities, Inc. is serving as placement agent and will receive cash commission of 8% of the proceeds. The company will bear expense of $780,000 for the transaction.

The transaction was cancelled as on January 26, 2013.