WA Kaolin Limited announced a private placement of 45,525,951 fully paid ordinary shares for the gross proceeds of AUD 0.17 per share for the gross proceeds of AUD 7,739,411 on August 3, 2023. The transaction is expected to close in tranches, an initial tranche n for 11,764,706 shares for AUD 2,000,000 will be paid up front as part of agreement in mid-August 2023, followed by five monthly tranches of 5,882,353 shares for AUD 1,000,000 each. The final tranche of 4,349,480 shares for AUD 739,411.67 is scheduled for February 2024.

The shares will have a hold period of 36 months from the date of their subscriptions. The transaction will include participation from new investor, Stanco International acquiring 15% stake in the company and also the board seat in the company.