Rhinomed Limited (ASX:RNO) announced a private placement of 23,809,523 common shares at a price of AUD 0.21 per share for the gross proceeds of AUD 5,000,000 on November 2, 2018. The transaction will include participation from new institutional and existing sophisticated domestic and international investors, including Chairman Ron Dewhurst and Chief Executive Officer Michael Johnson. The transaction is subject to approval in shareholders' general meeting.