BuildingIQ, Inc. (ASX:BIQ) announced a private placement of 58,944,445 chess depositary interests at an issue price of AUD 0.018 per chess depositary interest for gross proceeds of AUD 1,061,000 on December 13, 2019. The company will issue 54,500,001 chess depositary interests on December 16, 2019 and 4,444,444 chess depositary interests following receipt of shareholders’ approval. The transaction will involve participation from investors including two of its directors including Gerd Goette agreeing to invest AUD 50,000 for 2,777,778 chess depositary interests and William Deane agreeing to invest AUD 30,000 for 1,666,667 chess depositary interests in the transaction subject to shareholders approval. The transaction was approved by the board of the company. No broker fees or commissions were incurred in connection with the transaction.