Dateline Resources Limited announced that it expects to receive AUD 1 million in funding from Southern Cross Exploration NL

Dateline Resources Limited (ASX:DTR) announced private placement of 100,000,000 shares at a price of AUD 0.01 per share for gross proceeds of AUD 1,000,000 on October 19, 2016. The transaction will involve participation from existing investor Southern Cross Exploration NL (ASX:SXX). The company will pay finder's fee of AUD 25,000 in the transaction as reimbursement to the investor.

The company will also issue 25,000,000 options at an exercise price of AUD 0.04 per option. The transaction is subject to approval of shareholders of the company.