Accelerate Resources Limited announced a private placement of 86,111,111 common shares at an issue price of AUD 0.036 per share for gross proceeds of AUD 3,099,999.996 on September 13, 2021. The shares will be issued in two tranches for a total of up to 38,899,440 shares in its first tranche closing and a total of up to 47,211,671 shares in its second and final tranche closing subject to shareholder approval at the 2021 Annual General Meeting to be held on 8 November 2021. Issue of tranche 1 shares is anticipated to occur on Monday, September 20, 2021, but notes that the issue date is subject to change. The transaction will include participation from a range of sophisticated and professional investors, including participation by accelerate’s Board of Directors for AUD 60,000.