Kalina Power Limited announced a private placement of 370,370,370 common shares at an issue price of AUD 0.027 per share for gross proceeds of AUD 9,999,999.99 on October 19, 2021. The company will raise funding in two tranches, 266,232,457 in first tranche on or around 26 October 2021 and 104,137,913 shares in second tranche subject to shareholder approval in meeting to be held on November 30, 2021. The transaction will include participation from new institutional and sophisticated investors.