Lanka Graphite Limited (ASX:LGR) announced a private placement of 5,816,667 shares at a price of AUD 0.045 per share for the gross proceeds of AUD 261,750.015 on October 23, 2017. The transaction will include participation from Emily Lee for 1,000,000 shares. The transaction is expected to close in December 2017. The company will not pay any commission in respect to the transaction. On the same date the company issued 4,816,667 shares for proceeds of AUD 216,750 as part of first tranche of the transaction.