Cirralto Limited (ASX:CRO) announced a brokered private placement of 169,272,600 common shares at a price of AUD 0.0095 per share for gross proceeds of AUD 1,608,089.7 on February 6, 2019. The transaction will include participation from a number of existing shareholders as well as a number of new sophisticated and professional investors. The transaction will take place in two tranches. The company will issue 99,219,100 shares in the first tranche and 70,053,500 shares in the second tranche. The company will close the first tranche on February 13, 2019. The second tranche is subject to the shareholder approval at the shareholders meeting to be held in early March 2019. The company expects to close the second tranche in 5 business days following the receipt of shareholder approval.