Element 25 Limited (ASX:E25) announced a private placement of 8,750,000 common shares at a price of AUD 0.4 per share for gross proceeds of AUD 3,500,000 on July 6, 2020. The company has received firm commitments from sophisticated, professional and institutional investors. The transaction is not subject to shareholder approval, and is expected to close on July 14, 2020.