Mining Projects Group Limited (ASX:MPJ) announced a private placement on best endeavors basis of 80,000,000 shares at AUD 0.003 per share for gross proceeds of AUD 240,000 on December 20, 2013. As part of the transaction, the company will also issue two options for every three shares issued. The transaction involved participation from professional, sophisticated or otherwise exempt investors. The issuance of shares does not require shareholder's approval and options will be issued subject to seeking shareholder approval. CPS Capital Group Pty Ltd will serve as placement agent to the company.

On January 24, 2014, Mining Projects Group Limited closed the transaction.