Novatti Group Limited announced it has received a firm commitment for private placement of 72,727,273 common shares at a price of AUD 0.55 per common share for gross proceeds of AUD 40,000,000 on July 1, 2021. The placement will take place in two tranches including 51,120,472 shares without shareholder approval will be issued in first tranche under ASX Listing Rules 7.1 and 7.1A and 21,606,801 shares subject to shareholder approval will be issued in second tranche. The transaction will include participation from sophisticated and institutional investors in Australia and overseas. The settlement of shares issued under first tranche is expected to occur on July 8, 2021, and issuance is expected to occur on or around July 9, 2021 and the settlement of shares under second tranche is expected to occur shortly after August 18, 2021 and issuance is expected to occur on or around August 24, 2021.