Stellar Resources Limited (ASX:SRZ) announced a private placement of 50,000,000 shares at AUD 0.052 per share for gross proceeds of AUD 2,600,000 on January 14, 2014. The company will issue shares to new investor, Capetown S.A. As a part of the transaction, the investor will appoint a member to the company's board of director. The company will also issue 25,000,000 options at an exercise price of AUD 0.08. The options will be exercisable within a period of three years from the date of issue on the basis of one ordinary share per option. The issuance of options is subject to the shareholder's approval. The transaction was not underwritten. The company may pay commission at a rate of 6% of the total funds received and 6% of the total shares issued. Citicorp Nominees Pty Ltd will act as a placement agent to the company. The company will issue the options by no later then February 28, 2014.

On January 17, 2014, Stellar Resources Limited closed the transaction.