Digital Wine Ventures Limited announced a private placement of 225,446,430 common shares at a price of AUD 0.056 per share for gross proceeds of AUD 12,625,000 on October 15, 2021. The transaction will include participation from institutional and sophisticated investors and directors of the company. The directors of the company have committed to subscribe for an aggregate of 2,232,142 shares for gross proceeds of AUD 125,000 subject to the receipt of prior shareholder approval to be sought at the Annual General Meeting. 53,363,270 of the shares have been agreed to be issued pursuant to the company’s 10% capacity under Listing Rule 7.1A. The remaining 172,083,160 shares have been agreed to be issued pursuant to the company’s 15% capacity under Listing Rule 7.1. Completion of the transaction is expected to occur on or around October 25, 2021.