Southern Cross Exploration NL (ASX:SXX) announced a private placement of 40,000,000 shares at a price of AUD 0.01 per share for gross proceeds of AUD 400,000 on June 30, 2014. The transaction included participation from sophisticated and professional investors in Australia including Mark R. Johnson for 30,000,000 shares.

On June 30, 2014, Southern Cross Exploration NL closed the transaction.