Abzu Gold Ltd (TSXV:ABS) announced a non-brokered private placement of 40,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 2 million on May 2, 2013. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.10 per share for a period of 12 months from the closing. The transaction will include participation from existing investor Stonehouse Construction Pte Ltd. and other investors. The private placement is subject to TSX Venture Exchange. All securities to be issued are subject to a hold period of four months and one day from the issuance.

On May 30, 2013, the company announced that it has closed the first tranche of the transaction. The company issued 20,000,000 units to the investor and received CAD 1,000,000 in the round. The securities issued are subject to a hold period expiring on October 1, 2013. On closing of the tranche, the investor holds 18.4% of the issued and outstanding share capital of the company. On exercise of the warrants, the investor will hold a 31.1% of the then issued and outstanding share capital of the company. Brian Ticcioni, Chief Executive Officer of the investor will join the company's board.

On June 25, 2013, the company announced that TSX Venture Exchange has granted an extension for the completion of this transaction. The company expects to close the second tranche by July 14, 2013. The securities will be issued are subject to regulatory approval.

On July 12, 2013, the company announced that TSX Venture Exchange has granted an extension for the completion of this transaction. The company expects to close the second tranche by July 31, 2013.

On August 1, 2013, the company announced that it has obtained TSX Venture Exchange's approval for the first tranche of the transaction.