Orinoco Gold Limited (ASX:OGX) announced a private placement of 92,500,000 shares at AUD 0.02 per share for gross proceeds of AUD 1,850,000 on January 2, 2018. The company has also issued 92,500,000 free attaching options exercisable at AUD 0.03 per share expiring 2 years from the date of issue. No underwriting agreements were in place for the transaction. The company has agreed to pay a fee of 5-6% for funds raised under the transaction.