Altura Mining Limited announced a private placement of 1,300,000,000 new fully paid ordinary shares at a price of AUD 0.005 per new share for gross proceeds of AUD 6,5000,000 on October 14, 2021. The transaction will include participation from selected institutional and professional/sophisticated investors located in North America, Asia and Australia. On the same date, the company issued 414,565,329 shares and received gross proceeds of AUD 2,070,000 in its first tranche. The company will issue 885,434,671 shares for gross proceeds of AUD 4,430,000 in its second tranche subject to shareholder approval, which will be sought at a forthcoming annual general meeting to be held on November 30, 2021. The transaction is expected to close on December 1, 2021.