I-Freek Mobile Inc. (JASDAQ:3845) announced a private placement of 1,050,000 common shares at a price of ¥134 per share for gross proceeds of ¥140,700,000 and 1,500 13th series warrants at a price of ¥1,390 per warrant for gross proceeds of ¥2,085,000; for aggregate gross proceeds of ¥142,785,000 on September 7, 2016. The settlement and the allotment date of the transaction is September 26, 2016. Each Warrant can be exercised into 1,000 common shares of the company at an exercise price of ¥144 per share from September 27, 2016 to September 26, 2019. The securities will be issued by way of third party allotment. The transaction will include participation from existing investor, Koichi Nagata for 700,000 shares and 750 warrants, new investors, Yoshihisa Kuroda for 175,000 shares and 375 units, and Shigeharu Tachibana for 1,750,00 shares and 375 units. Upon completion of the transaction, Koichi Nagata’s stake will increase from 4.93% to 14.17%, Yoshihisa Kuroda will acquire 1.29% stake, and Shigeharu Tachibana will acquire 1.57% stake in the company. The transaction has been approved by the board of directors of the company. The company will incur issue costs of ¥11,000,000 in the transaction, including document creation expenses of about ¥1,000,000, legal expenses of about ¥6,500,000, registration expenses of about ¥1,500,000, recipient inspection expenses of about ¥1,000,000, and warrant issue price evaluation expenses of about ¥1,000,000.