Lanka Graphite Limited (ASX:LGR) announced private placement of 8,000,000 shares at a price of AUD 0.0275 per share for the gross proceeds of AUD 220,000 on December 1, 2017. The company will issue 6,000,000 free attaching options, 3,000,000 of the options will have an exercise price of AUD 0.04 and expire 12 months from the date of issue, the remaining 3,000,000 options will have an exercise price of AUD 0.06 and expire 24 months from the date of issue. The options will be issued on or before November 30, 2018 following its 2018 annual general meeting. The transaction was approved by board of directors of the company.