AustSino Resources Group Limited (ASX:ANS) announced a private placement of 55,000,000 common shares at a price of AUD 0.013 per share for gross proceeds of AUD 715,000 on December 4, 2019. The Transaction included participation from sophisticated and professional investors. The shares to be issued to the investor will remain in escrow until the earlier of 12 months or when the company issues a prospectus, cleansing statement or other disclosure document. No shareholder approval is required for the transaction. The company did not use a lead manager for the transaction.