Magnetite Mines Limited announced that it expects to receive AUD 0.075 million in funding

Magnetite Mines Limited (ASX:MGT) announced a private placement of 75,000,000 common shares to be issued at AUD 0.001 per share AUD 75,000 on April 23, 2020. The transaction will include participation from unrelated sophisticated investors. The transaction is expected to close on April 28, 2020.