Multistack International Limited announced a private placement of 24,000,000 common shares at an issue price of AUD 0.05 per share for gross proceeds of AUD 1,200,000 on October 7, 2021. The transaction will include participation from Jin Qiao (Hong Kong) Investment Development Co., Ltd. The company will raise funding in tranches; Tranche 1 involves the immediate subscription by Jin Qiao for 16,845,000 ordinary shares and Tranche 2 - the issue of the remaining 7,155,000 ordinary shares to Jin Qiao is subject to the Company receiving shareholder approval of the issue of these shares in a general meeting of its shareholders for this purpose on or about 17 November 2021. The transaction is expected to close on October 8, 2021.