Northern Mining Ltd (ASX:NMI) announced a private placement of 65,473,982 shares at AUD 0.012 per share for gross proceeds of AUD 785,687.784 on November 18, 2013. The transaction involved participation from professional and sophisticated investors from Singapore, involving Chia Soon Loi for 40,000,000 shares and Gerald Woon Tai Hwee for 25,473,982 shares. The company may pay dividends to ordinary shareholders as the directors resolve.

On November 18, 2013, Northern Mining Ltd closed the transaction.