Dateline Resources Limited (ASX:DTR) announced a private placement of 15,000,000 common shares at AUD 0.04 per share with new investor, Southern Cross Exploration NL for gross proceeds of AUD 600,000 on July 2, 2014. The investor will acquire 19.7% stake in the company through this transaction. The transaction will be completed in two equal tranches of 7,500,000 shares each. The company will close first tranche on July 4, 2014 and the second tranche is to be completed by December 31, 2014. The transaction does not need shareholder approval but the company will seek shareholder approval for the second tranche at its next general meeting. The company paid normal ASX fees and legal fees of AUD 7,000 in connection with the transaction.

On July 4, 2014, the company issued 7,500,000 shares for gross proceeds of AUD 300,000 in its first tranche.

On November 21, 2014, the company announced that the second tranche of the transaction was approved by the shareholders in its Annual General Meeting.