Hot Chili Limited (ASX:HCH) announced that it has entered into an agreement for a private placement of 22,857,143 common shares at AUD 0.07 per share for gross proceeds of AUD 1,600,000.01 on February 1, 2016. The round will include participation from returning investors Taurus Funds Management Pty Limited and CAP S.A. The round may also include participation from other investors. The transaction is expected to close within coming weeks following CAP S.A.'s board ratification to participate in the transaction.