Target Energy Limited (ASX:TEX) announced a private placement of 258,000,000 common shares at a price of AUD 0.0025 per share for gross proceeds of AUD 645,000 on March 16, 2017. The transaction will include participation from existing investor Investmet Limited. The transaction is expected to close in early April 2017. The transaction is subject to documentation and final approval and not subject to shareholders' approval.