Allegiance Coal Limited announced a private placement of 60,000,000 common shares at an issue price of AUD 0.5 per share for gross proceeds of AUD 30,000,000 on October 21, 2021. The company expects to issue 23,542,295 tranche one placement shares on 29 October 2021, with 36,457,705 tranche two shares expected to be issued following the AGM on 3 December 2021, on or around 9 December 2021. The transaction will include participation from institutional and professional shareholders.